ProShare Advisors LLC Purchases 3,382 Shares of MGE Energy, Inc. (NASDAQ:MGEE)

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

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Barclays PLC increased its position in shares of MGE Energy by 345.8% during the third quarter. Barclays PLC now owns 62,308 shares of the utilities provider's stock worth $5,697,000 after buying an additional 48,330 shares during the period. Merit Financial Group LLC lifted its stake in shares of MGE Energy by 1.7% in the 4th quarter. Merit Financial Group LLC now owns 7,079 shares of the utilities provider's stock valued at $665,000 after purchasing an additional 116 shares during the period. Exchange Traded Concepts LLC lifted its stake in shares of MGE Energy by 4.3% in the 4th quarter. Exchange Traded Concepts LLC now owns 20,471 shares of the utilities provider's stock valued at $1,923,000 after purchasing an additional 835 shares during the period. Blue Trust Inc. boosted its position in shares of MGE Energy by 66.8% during the 4th quarter. Blue Trust Inc. now owns 4,306 shares of the utilities provider's stock valued at $394,000 after purchasing an additional 1,725 shares in the last quarter. Finally, KBC Group NV grew its stake in MGE Energy by 32.2% during 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 period. Institutional investors and hedge funds own 52.58% of the company's stock.

Insider Transactions at MGE Energy

In other MGE Energy news, Director James G. Berbee acquired 446 shares of the business's stock in a transaction on Wednesday, March 12th. The shares were acquired at an average price 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 in the company, 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 document filed with the SEC, which is accessible through this link. Company insiders own 0.19% of the company's stock.

Analysts Set New Price Targets

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

MGE Energy Stock Down 1.1%

NASDAQ MGEE traded down $1.00 during trading hours on Wednesday, hitting $89.81. The company's stock had a trading volume of 8,455 shares, compared to its average volume of 138,391. The company has a market capitalization of $3.28 billion, a PE ratio of 27.52 and a beta of 0.80. MGE Energy, Inc. has a 52 week low of $72.27 and a 52 week high of $109.22. The company's 50-day simple moving average is $90.63 and its two-hundred day simple moving average is $93.32. 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 (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, beating analysts' consensus estimates of $0.98 by $0.16. The business had revenue of $218.97 million during the quarter, compared to analyst estimates of $202.42 million. MGE Energy had a return on equity of 10.18% and a net margin of 17.70%. Research analysts anticipate that MGE Energy, Inc. will post 3.43 EPS for the current fiscal year.

MGE Energy Announces Dividend

The company 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 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date is Friday, May 30th. MGE Energy's payout ratio is 50.85%.

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.