MGE Energy, Inc. (NASDAQ:MGEE) Shares Bought by ProShare Advisors LLC

ProShare Advisors LLC raised its position in MGE Energy, Inc. (NASDAQ:MGEE - Free Report) by 44.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,983 shares of the utilities provider's stock after acquiring an additional 3,382 shares during the quarter. ProShare Advisors LLC's holdings in MGE Energy were worth $1,032,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Guggenheim Capital LLC acquired a new position in MGE Energy in the 4th quarter valued at about $232,000. Madison Investment Advisors LLC acquired a new position in MGE Energy in the 4th quarter valued at about $295,000. Allspring Global Investments Holdings LLC grew its position in MGE Energy by 62,788.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 5,660 shares of the utilities provider's stock valued at $532,000 after acquiring an additional 5,651 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in MGE Energy in the 4th quarter valued at about $208,000. Finally, KBC Group NV grew its position in 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 acquiring an additional 360 shares in the last quarter. 52.58% of the stock is owned by institutional investors and hedge funds.

MGE Energy Stock Performance

Shares of MGEE stock traded up $1.34 during trading hours on Tuesday, hitting $91.33. The stock had a trading volume of 28,261 shares, compared to its average volume of 138,730. The firm has a market capitalization of $3.34 billion, a PE ratio of 27.91 and a beta of 0.80. MGE Energy, Inc. has a twelve month low of $72.27 and a twelve month high of $109.22. The stock's 50 day moving average is $90.67 and its 200 day moving average is $93.34. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.41 and a quick ratio of 0.94.

MGE Energy (NASDAQ:MGEE - Get Free Report) last released its quarterly earnings results 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 business had revenue of $218.97 million during the quarter, compared to analysts' expectations of $202.42 million. As a group, research analysts forecast that MGE Energy, Inc. will post 3.43 earnings per share for the current fiscal year.

MGE Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, June 15th. Shareholders of record on Sunday, June 1st will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.97%. The ex-dividend date is Friday, May 30th. MGE Energy's payout ratio is 50.85%.

Wall Street Analysts Forecast Growth

MGEE has been the subject of several research reports. Morgan Stanley dropped their target price on MGE Energy from $75.00 to $74.00 and set an "underweight" rating for the company in a research report on Thursday, May 22nd. LADENBURG THALM/SH SH raised MGE Energy to a "strong sell" rating in a research report on Friday, May 9th.

Insider Buying and Selling at MGE Energy

In other news, Director James G. Berbee bought 446 shares of the stock in a transaction on Wednesday, March 12th. The shares were bought at an average price of $90.83 per share, with a total value of $40,510.18. Following the completion of the acquisition, 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 ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.19% of the stock is owned by corporate insiders.

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.