Speece Thorson Capital Group Inc. Has $11.41 Million Holdings in MGE Energy Inc. $MGEE

Key Points

• Speece Thorson Capital Group increased its stake in MGE Energy by 20.9% to 135,559 shares valued at about $11.41 million, representing roughly 2.3% of Speece Thorson's portfolio and ~0.37% of MGE Energy.
• Director James G. Berbee bought 373 shares at $77.74 (a 4.15% increase in his ownership); institutional investors own about 52.58% of the company while corporate insiders hold 0.19%.
• MGE Energy recently paid a quarterly dividend of $0.475 (annualized $1.90, ~2.6% yield), reported Q EPS of $0.64 in line with estimates, and carries a market cap of ~$2.72 billion with an average analyst consensus price target of $78 (rating: "Reduce").

Speece Thorson Capital Group Inc. boosted its position in MGE Energy Inc. (NASDAQ:MGEE - Free Report) by 20.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 135,559 shares of the utilities provider's stock after purchasing an additional 23,399 shares during the period. MGE Energy accounts for about 2.3% of Speece Thorson Capital Group Inc.'s portfolio, making the stock its 26th biggest holding. Speece Thorson Capital Group Inc. owned about 0.37% of MGE Energy worth $11,411,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. AQR Capital Management LLC raised its position in shares of 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 acquiring 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 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,707 shares of the utilities provider's stock valued at $2,018,000 after purchasing an additional 954 shares during the period. United Services Automobile Association bought a new position in MGE Energy during the 1st quarter worth approximately $220,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in MGE Energy by 18.8% during the 1st 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 purchasing an additional 13,715 shares during the last quarter. Finally, 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. Institutional investors own 52.58% of the company's stock.

Insider Buying and Selling at MGE Energy

In related news, Director James G. Berbee acquired 373 shares of the company's stock in a transaction dated Wednesday, March 11th. The shares were purchased at an average price of $77.74 per share, for a total transaction of $28,997.02. Following the completion of the acquisition, the director owned 9,362 shares of the company's stock, valued at approximately $727,801.88. This trade 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 can be accessed through the SEC website. Corporate insiders own 0.19% of the company's stock.

MGE Energy Price Performance

Shares of MGEE opened at $74.41 on Wednesday. The firm has a market cap of $2.72 billion, a PE ratio of 20.00 and a beta of 0.81. MGE Energy Inc. has a 52-week low of $72.78 and a 52-week high of $94.21. The business's 50 day moving average price is $79.48 and its two-hundred day moving average price is $81.40. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.55 and a current ratio of 0.77.

MGE Energy (NASDAQ:MGEE - Get Free Report) last announced its quarterly earnings data on Tuesday, February 24th. The utilities provider reported $0.64 EPS for the quarter, hitting the consensus estimate of $0.64. The company had revenue of $189.55 million during the quarter. MGE Energy had a net margin of 18.27% and a return on equity of 10.60%. On average, equities analysts anticipate that MGE Energy Inc. will post 3.43 EPS for the current year.

MGE Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, March 15th. Shareholders of record on Sunday, March 1st were paid a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Friday, February 27th. MGE Energy's payout ratio is 51.08%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of MGE Energy from a "sell" rating to a "hold" rating in a research report on Sunday, March 8th. Weiss Ratings restated a "hold (c+)" rating on shares of MGE Energy in a report on Monday, December 29th. Finally, Morgan Stanley cut their price target on shares of MGE Energy from $74.00 to $73.00 and set an "underweight" rating on the stock in a research report on Monday, February 2nd. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Reduce" and a consensus price target of $78.00.

About MGE Energy

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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