Bank of America Corp DE Purchases 5,123 Shares of MGE Energy, Inc. (NASDAQ:MGEE)

Bank of America Corp DE grew its position in MGE Energy, Inc. (NASDAQ:MGEE - Free Report) by 7.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 77,943 shares of the utilities provider's stock after acquiring an additional 5,123 shares during the quarter. Bank of America Corp DE owned about 0.22% of MGE Energy worth $7,324,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Sterling Capital Management LLC grew its stake in shares of MGE Energy by 656.2% in the fourth 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 lifted its holdings in shares of MGE Energy by 507.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,112 shares of the utilities provider's stock valued at $105,000 after purchasing an additional 929 shares during the last quarter. KBC Group NV lifted its holdings in shares of MGE Energy by 32.2% in the 4th quarter. KBC Group NV now owns 1,478 shares of the utilities provider's stock valued at $139,000 after purchasing an additional 360 shares during the last quarter. Farther Finance Advisors LLC raised its stake in MGE Energy by 7,321.7% during the 4th quarter. Farther Finance Advisors LLC now owns 1,707 shares of the utilities provider's stock valued at $160,000 after acquiring an additional 1,684 shares during the last quarter. Finally, EnRich Financial Partners LLC raised its stake in MGE Energy by 8.7% during the 4th quarter. EnRich Financial Partners LLC now owns 1,744 shares of the utilities provider's stock valued at $164,000 after acquiring an additional 139 shares during the last quarter. Hedge funds and other institutional investors own 52.58% of the company's stock.

MGE Energy Stock Up 0.6%

MGEE stock traded up $0.52 during mid-day trading on Friday, hitting $90.49. 3,588 shares of the company were exchanged, compared to its average volume of 138,126. The company has a market capitalization of $3.31 billion, a PE ratio of 27.67 and a beta of 0.80. The company has a current ratio of 1.41, a quick ratio of 0.94 and a debt-to-equity ratio of 0.60. MGE Energy, Inc. has a twelve month low of $72.27 and a twelve month high of $109.22. The firm has a fifty day simple moving average of $90.57 and a 200 day simple moving average of $93.19.

MGE Energy (NASDAQ:MGEE - Get Free Report) last issued its quarterly earnings data 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 net margin of 17.70% and a return on equity of 10.18%. The firm had revenue of $218.97 million for the quarter, compared to the consensus estimate of $202.42 million. On average, research analysts forecast that MGE Energy, Inc. will post 3.43 earnings per share for the current fiscal year.

MGE Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Friday, May 30th. MGE Energy's dividend payout ratio (DPR) is currently 50.85%.

Insider Transactions at MGE Energy

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

Wall Street Analyst Weigh In

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

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.