Northwestern Mutual Wealth Management Co. Has $3.17 Million Stake in MGE Energy Inc. $MGEE

Key Points

• Northwestern Mutual Wealth Management increased its stake in MGE Energy by 369.1% in the fourth quarter, ending with 40,409 shares valued at about $3.17 million.
• MGE Energy posted better-than-expected earnings for the latest quarter, reporting $1.32 per share versus the $1.13 consensus estimate, while revenue also topped forecasts at $242.7 million.
• The company announced a quarterly dividend of $0.475 per share, implying an annualized yield of 2.5%, while analysts currently hold a cautious stance with a consensus rating of “Reduce”.

Northwestern Mutual Wealth Management Co. boosted its holdings in shares of MGE Energy Inc. (NASDAQ:MGEE - Free Report) by 369.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,409 shares of the utilities provider's stock after buying an additional 31,795 shares during the quarter. Northwestern Mutual Wealth Management Co. owned about 0.11% of MGE Energy worth $3,169,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of MGEE. AQR Capital Management LLC increased its position in MGE Energy by 18.8% during the first quarter. AQR Capital Management LLC now owns 8,275 shares of the utilities provider's stock worth $769,000 after buying an additional 1,312 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in MGE Energy by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,707 shares of the utilities provider's stock worth $2,018,000 after buying an additional 954 shares during the last quarter. United Services Automobile Association acquired a new position in MGE Energy during the first quarter worth $220,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in MGE Energy by 18.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 86,608 shares of the utilities provider's stock worth $8,051,000 after buying an additional 13,715 shares during the last quarter. Finally, Jane Street Group LLC increased its position in MGE Energy by 718.5% during the first quarter. Jane Street Group LLC now owns 75,007 shares of the utilities provider's stock worth $6,973,000 after buying an additional 65,843 shares during the last quarter. 52.58% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director James G. Berbee bought 373 shares of the firm's stock in a transaction that occurred on Wednesday, March 11th. The shares were acquired at an average cost of $77.74 per share, with a total value of $28,997.02. Following the completion of the transaction, the director directly owned 9,362 shares in the company, valued at $727,801.88. This represents a 4.15% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.41% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on MGEE shares. Morgan Stanley reissued an "underweight" rating and set a $70.00 target price on shares of MGE Energy in a research report on Thursday. Weiss Ratings reissued a "hold (c)" rating on shares of MGE Energy in a research report on Friday, May 8th. Finally, Wall Street Zen raised shares of MGE Energy from a "sell" rating to a "hold" rating in a research report on Sunday, March 8th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus price target of $76.50.

MGE Energy Price Performance

MGEE stock opened at $76.06 on Tuesday. MGE Energy Inc. has a twelve month low of $72.17 and a twelve month high of $91.49. The company has a market cap of $2.80 billion, a PE ratio of 19.50 and a beta of 0.76. The business's 50-day simple moving average is $77.29 and its 200 day simple moving average is $79.16. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 0.65.

MGE Energy (NASDAQ:MGEE - Get Free Report) last released its earnings results on Tuesday, May 5th. The utilities provider reported $1.32 earnings per share for the quarter, topping analysts' consensus estimates of $1.13 by $0.19. MGE Energy had a return on equity of 10.94% and a net margin of 18.61%.The business had revenue of $242.70 million for the quarter, compared to the consensus estimate of $227.06 million. On average, research analysts anticipate that MGE Energy Inc. will post 3.94 earnings per share for the current year.

MGE Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be given a dividend of $0.475 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.90 dividend on an annualized basis and a yield of 2.5%. MGE Energy's dividend payout ratio (DPR) is 48.72%.

MGE Energy Company Profile

MGE Energy, Inc is a public utility holding company headquartered in Madison, Wisconsin. Through its principal subsidiary, Madison Gas and Electric Company (MGE), the company provides regulated electric and natural gas distribution services to residential, commercial and industrial customers in south-central Wisconsin. MGE Energy's operations encompass the generation, transmission and distribution of electricity as well as the purchase and distribution of natural gas, with an emphasis on reliable service and system resilience.

Since reorganizing as a holding company in 2001, MGE Energy has expanded its portfolio to include nonregulated subsidiaries involved in renewable energy development, energy services and infrastructure support.

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