Jump Financial LLC purchased a new stake in MGE Energy Inc. (NASDAQ:MGEE - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,019 shares of the utilities provider's stock, valued at approximately $374,000.
A number of other large investors also recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in MGE Energy by 9,697.0% during the 1st quarter. GAMMA Investing LLC now owns 456,248 shares of the utilities provider's stock worth $42,413,000 after buying an additional 451,591 shares during the last quarter. Northern Trust Corp lifted its holdings in MGE Energy by 0.3% during the 1st quarter. Northern Trust Corp now owns 394,414 shares of the utilities provider's stock worth $36,665,000 after buying an additional 1,287 shares during the last quarter. Nuveen LLC bought a new position in MGE Energy during the 1st quarter worth approximately $20,910,000. Invesco Ltd. lifted its holdings in MGE Energy by 49.4% during the 1st quarter. Invesco Ltd. now owns 208,936 shares of the utilities provider's stock worth $19,423,000 after buying an additional 69,084 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in MGE Energy by 2.5% during the 1st quarter. Principal Financial Group Inc. now owns 196,183 shares of the utilities provider's stock worth $18,237,000 after buying an additional 4,736 shares during the last quarter. Institutional investors own 52.58% of the company's stock.
Insider Buying and Selling
In other MGE Energy news, Director James G. Berbee bought 507 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were purchased at an average cost of $83.83 per share, for a total transaction of $42,501.81. Following the transaction, the director directly owned 6,329 shares in the company, valued at $530,560.07. The trade was a 8.71% increase in their ownership of the stock. 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 corporate insiders.
MGE Energy Stock Performance
Shares of MGE Energy stock traded down $0.48 on Friday, reaching $84.75. 115,626 shares of the company were exchanged, compared to its average volume of 119,292. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.20 and a current ratio of 1.80. The company's 50-day moving average is $85.98 and its two-hundred day moving average is $88.94. 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.
MGE Energy (NASDAQ:MGEE - Get Free Report) last announced its quarterly 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 return on equity of 10.58% and a net margin of 18.24%.The company had revenue of $159.45 million for the quarter. As a group, research analysts expect that MGE Energy Inc. will post 3.43 earnings per share for the current fiscal year.
MGE Energy Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 1st will be given a $0.475 dividend. The ex-dividend date is Friday, August 29th. This represents a $1.90 annualized dividend and a yield of 2.2%. This is an increase from MGE Energy's previous quarterly dividend of $0.45. MGE Energy's payout ratio is 52.78%.
Analyst Ratings Changes
A number of research analysts have commented on MGEE shares. Morgan Stanley reaffirmed an "underweight" rating on shares of MGE Energy in a report on Thursday, August 21st. Wall Street Zen cut MGE Energy from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Two analysts have rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of "Sell" and a consensus price target of $74.00.
Read Our Latest Report on MGEE
About MGE Energy
(
Free Report)
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.
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