RMG Wealth Management LLC Invests $387,000 in MGE Energy Inc. $MGEE

Key Points

• RMG Wealth Management LLC has invested approximately $387,000 in MGE Energy Inc. by purchasing 4,514 shares during the 2nd quarter.
• MGE Energy recently declared a quarterly dividend of $0.475 per share, which marks an increase from the previous dividend of $0.45.
• The company's stock has a market capitalization of $3.03 billion and a P/E ratio of 23.03, with analysts predicting average earnings per share of 3.43 for the current fiscal year.

RMG Wealth Management LLC bought a new stake in shares of MGE Energy Inc. (NASDAQ:MGEE - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 4,514 shares of the utilities provider's stock, valued at approximately $387,000.

A number of other institutional investors have also recently made changes to their positions in MGEE. Nuveen LLC purchased a new stake in MGE Energy in the 1st quarter worth about $20,910,000. Invesco Ltd. increased its stake in shares of MGE Energy by 49.4% during the first quarter. Invesco Ltd. now owns 208,936 shares of the utilities provider's stock valued at $19,423,000 after buying an additional 69,084 shares during the period. Jane Street Group LLC lifted its position in shares of MGE Energy by 718.5% in the 1st quarter. Jane Street Group LLC now owns 75,007 shares of the utilities provider's stock worth $6,973,000 after purchasing an additional 65,843 shares during the period. Public Sector Pension Investment Board boosted its position in MGE Energy by 27.2% during the 1st quarter. Public Sector Pension Investment Board now owns 114,776 shares of the utilities provider's stock valued at $10,670,000 after acquiring an additional 24,577 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in MGE Energy by 18.8% in 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 valued at $8,051,000 after purchasing an additional 13,715 shares during the last quarter. Hedge funds and other institutional investors own 52.58% of the company's stock.

MGE Energy Stock Up 0.3%

MGEE stock opened at $82.89 on Tuesday. The company has a market cap of $3.03 billion, a P/E ratio of 23.03 and a beta of 0.79. The company has a current ratio of 1.80, a quick ratio of 1.20 and a debt-to-equity ratio of 0.60. The company's 50-day moving average price is $84.40 and its 200 day moving average price is $87.73. MGE Energy Inc. has a 52 week low of $81.14 and a 52 week high of $109.22.

MGE Energy (NASDAQ:MGEE - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.01). The company had revenue of $159.45 million for the quarter. MGE Energy had a return on equity of 10.58% and a net margin of 18.24%. On average, research analysts expect that MGE Energy Inc. will post 3.43 earnings per share for the current fiscal year.

MGE Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 1st were paid a dividend of $0.475 per share. This is a positive change from MGE Energy's previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Friday, August 29th. This represents a $1.90 annualized dividend and a yield of 2.3%. MGE Energy's payout ratio is presently 52.78%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on MGEE shares. Weiss Ratings reissued a "buy (b-)" rating on shares of MGE Energy in a research report on Saturday, September 27th. Wall Street Zen lowered MGE Energy from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. LADENBURG THALM/SH SH upgraded shares of MGE Energy from a "sell" rating to a "neutral" rating and raised their price objective for the stock from $69.00 to $83.00 in a research report on Thursday, September 11th. Finally, Morgan Stanley reduced their price target on shares of MGE Energy from $76.00 to $75.00 and set an "underweight" rating on the stock in a research note on Thursday, September 25th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, MGE Energy currently has an average rating of "Hold" and an average price target of $79.00.

Insider Buying and Selling

In related news, Director James G. Berbee purchased 507 shares of the company's stock in a transaction that occurred on Friday, August 15th. The stock was acquired at an average price of $83.83 per share, for a total transaction of $42,501.81. Following the completion of the purchase, the director owned 6,329 shares in the company, valued at approximately $530,560.07. This represents a 8.71% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.19% of the company's stock.

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.

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