Millennium Management LLC Acquires 61,200 Shares of MGE Energy, Inc. (NASDAQ:MGEE)

Millennium Management LLC lifted its holdings in shares of MGE Energy, Inc. (NASDAQ:MGEE - Free Report) by 134.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 106,611 shares of the utilities provider's stock after buying an additional 61,200 shares during the period. Millennium Management LLC owned approximately 0.29% of MGE Energy worth $10,017,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Sterling Capital Management LLC boosted its position in shares of MGE Energy by 656.2% during 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 during the last quarter. Smartleaf Asset Management LLC boosted its position in shares of MGE Energy by 507.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,112 shares of the utilities provider's stock valued at $105,000 after buying an additional 929 shares during the last quarter. Focus Partners Wealth purchased a new position in MGE Energy in the fourth quarter worth about $116,000. KBC Group NV boosted its position in MGE Energy by 32.2% in the fourth 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 last quarter. Finally, Farther Finance Advisors LLC boosted its position in MGE Energy by 7,321.7% in the fourth 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 last quarter. 52.58% of the stock is owned by hedge funds and other institutional investors.

MGE Energy Stock Performance

NASDAQ:MGEE traded up $0.37 on Thursday, hitting $89.77. The stock had a trading volume of 11,087 shares, compared to its average volume of 138,273. The stock has a market cap of $3.28 billion, a price-to-earnings ratio of 27.45 and a beta of 0.80. The company has a quick ratio of 0.94, a current ratio of 1.41 and a debt-to-equity ratio of 0.60. The business's 50-day simple moving average is $90.59 and its two-hundred day simple moving average is $93.30. MGE Energy, Inc. has a 52-week low of $72.27 and a 52-week high of $109.22.

MGE Energy (NASDAQ:MGEE - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The utilities provider reported $1.14 EPS for the quarter, topping 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 firm had revenue of $218.97 million for the quarter, compared to the consensus estimate of $202.42 million. As a group, research analysts predict that MGE Energy, Inc. will post 3.43 earnings per share for the current year.

MGE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend 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 firm's stock in a transaction dated Wednesday, March 12th. The shares were purchased at an average price of $90.83 per share, with a total value of $40,510.18. Following the completion of the purchase, the director now directly owns 11,532 shares of the company's stock, valued at $1,047,451.56. This represents a 4.02% 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. Corporate insiders own 0.19% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MGEE. LADENBURG THALM/SH SH raised MGE Energy to a "strong sell" rating in a research report on Friday, May 9th. Morgan Stanley dropped their target price on MGE Energy from $75.00 to $74.00 and set an "underweight" rating on the stock in a research report on Thursday, May 22nd.

About MGE Energy

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.