Man Group plc Buys 7,293 Shares of MGE Energy, Inc. (NASDAQ:MGEE)

Man Group plc grew its holdings in shares of MGE Energy, Inc. (NASDAQ:MGEE - Free Report) by 283.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,866 shares of the utilities provider's stock after acquiring an additional 7,293 shares during the quarter. Man Group plc's holdings in MGE Energy were worth $927,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Sterling Capital Management LLC raised its holdings in shares of MGE Energy by 656.2% during the 4th quarter. Sterling Capital Management LLC now owns 673 shares of the utilities provider's stock valued at $63,000 after buying an additional 584 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in MGE Energy by 507.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,112 shares of the utilities provider's stock worth $105,000 after purchasing an additional 929 shares during the period. Focus Partners Wealth purchased a new position in MGE Energy in the 4th quarter worth approximately $116,000. KBC Group NV increased its stake in MGE Energy by 32.2% in the 4th quarter. KBC Group NV now owns 1,478 shares of the utilities provider's stock worth $139,000 after purchasing an additional 360 shares during the period. Finally, Farther Finance Advisors LLC increased its stake in MGE Energy by 7,321.7% in the 4th quarter. Farther Finance Advisors LLC now owns 1,707 shares of the utilities provider's stock worth $160,000 after purchasing an additional 1,684 shares during the period. Institutional investors own 52.58% of the company's stock.

MGE Energy Stock Up 0.4%

Shares of NASDAQ MGEE traded up $0.37 during mid-day trading on Thursday, hitting $89.77. 11,087 shares of the stock traded hands, compared to its average volume of 138,273. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.94 and a current ratio of 1.41. MGE Energy, Inc. has a 52 week low of $72.27 and a 52 week high of $109.22. The company has a market cap of $3.28 billion, a price-to-earnings ratio of 27.45 and a beta of 0.80. The stock has a fifty day moving average price of $90.59 and a 200-day moving average price of $93.30.

MGE Energy (NASDAQ:MGEE - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The utilities provider reported $1.14 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.16. MGE Energy had a return on equity of 10.18% and a net margin of 17.70%. The company had revenue of $218.97 million for the quarter, compared to analyst estimates of $202.42 million. Research analysts anticipate that MGE Energy, Inc. will post 3.43 EPS for the current year.

MGE Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 15th. Investors of record on Sunday, June 1st will be given a dividend of $0.45 per share. The ex-dividend date is Friday, May 30th. This represents a $1.80 annualized dividend and a dividend yield of 2.01%. MGE Energy's dividend payout ratio is presently 50.85%.

Insider Activity at MGE Energy

In other news, Director James G. Berbee purchased 446 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The shares were bought at an average cost of $90.83 per share, for a total transaction of $40,510.18. Following the completion of the transaction, the director now directly owns 11,532 shares of the company's stock, valued at $1,047,451.56. This trade represents a 4.02% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.19% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Morgan Stanley decreased their price target on MGE Energy from $75.00 to $74.00 and set an "underweight" rating on the stock in a research note on Thursday, May 22nd. LADENBURG THALM/SH SH raised MGE Energy to a "strong sell" rating in a research note on Friday, May 9th.

MGE Energy 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.