Jump Financial LLC Purchases Shares of 4,019 MGE Energy Inc. $MGEE

Jump Financial LLC purchased a new stake in MGE Energy Inc. (NASDAQ:MGEE - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 4,019 shares of the utilities provider's stock, valued at approximately $374,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. lifted its holdings in MGE Energy by 8.4% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 9,164 shares of the utilities provider's stock valued at $852,000 after acquiring an additional 713 shares during the last quarter. AlphaQuest LLC lifted its holdings in MGE Energy by 90.0% in the 1st quarter. AlphaQuest LLC now owns 15,696 shares of the utilities provider's stock valued at $1,459,000 after acquiring an additional 7,435 shares during the last quarter. Northern Trust Corp lifted its holdings in MGE Energy by 0.3% in the 1st quarter. Northern Trust Corp now owns 394,414 shares of the utilities provider's stock valued at $36,665,000 after acquiring an additional 1,287 shares during the last quarter. Kovitz Investment Group Partners LLC acquired a new stake in MGE Energy in the 1st quarter valued at about $520,000. Finally, Public Sector Pension Investment Board lifted its holdings in MGE Energy by 27.2% in the 1st quarter. Public Sector Pension Investment Board now owns 114,776 shares of the utilities provider's stock valued at $10,670,000 after acquiring an additional 24,577 shares during the last quarter. 52.58% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director James G. Berbee purchased 507 shares of the stock in a transaction on Friday, August 15th. The shares were bought at an average price of $83.83 per share, for a total transaction of $42,501.81. Following the completion of the acquisition, the director directly owned 6,329 shares in the company, valued at approximately $530,560.07. This trade represents a 8.71% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.19% of the stock is currently owned by company insiders.

MGE Energy Stock Down 0.6%

Shares of MGEE traded down $0.48 during trading hours on Friday, reaching $84.75. The company's stock had a trading volume of 115,626 shares, compared to its average volume of 118,679. The firm has a market cap of $3.10 billion, a price-to-earnings ratio of 23.54 and a beta of 0.80. MGE Energy Inc. has a 1-year low of $82.21 and a 1-year high of $109.22. The company has a quick ratio of 1.20, a current ratio of 1.80 and a debt-to-equity ratio of 0.60. The company has a 50 day moving average of $85.98 and a two-hundred day moving average of $88.97.

MGE Energy (NASDAQ:MGEE - Get Free Report) last issued its earnings results on Wednesday, August 6th. The utilities provider reported $0.72 earnings per share for the quarter, missing analysts' consensus estimates of $0.73 by ($0.01). MGE Energy had a net margin of 18.24% and a return on equity of 10.58%. The business had revenue of $159.45 million during the quarter. As a group, research analysts predict that MGE Energy Inc. will post 3.43 EPS for the current fiscal year.

MGE Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 1st will be issued a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a yield of 2.2%. This is a boost from MGE Energy's previous quarterly dividend of $0.45. The ex-dividend date is Friday, August 29th. MGE Energy's dividend payout ratio is 52.78%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on MGEE shares. Wall Street Zen downgraded shares of MGE Energy from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. LADENBURG THALM/SH SH upgraded MGE Energy to a "strong sell" rating in a report on Friday, May 9th. Finally, Morgan Stanley restated an "underweight" rating on shares of MGE Energy in a report on Thursday, August 21st. Two investment analysts have rated the stock with a Sell rating, Based on data from MarketBeat, MGE Energy has a consensus rating of "Sell" and an average target price of $74.00.

MGE Energy Company Profile

MGE Energy, Inc, through its subsidiaries, operates as a public utility holding company primarily in the United States. It operates through Regulated Electric Utility Operations; Regulated Gas Utility Operations; Nonregulated Energy Operations; Transmission Investments; and All Other segments. The company generates, purchases, and distributes electricity and natural gas in Wisconsin and Iowa; owns and leases electric generating capacity; and plans, constructs, operates, maintains, and expands transmission facilities to provide transmission power services.