Insider Buying: MGE Energy (NASDAQ:MGEE) Director Purchases 254 Shares of Stock

Key Points

• Director Purchase: MGE Energy Director James Berbee bought 254 shares at an average price of $83.75, increasing his total holdings to 6,583 shares, valued at approximately $551,326.25.
• Dividend Increase: The company announced a quarterly dividend of $0.475 per share, up from the previous $0.45, which reflects an annualized yield of 2.3%.
• Market Analysts: MGE Energy currently has an average rating of "Sell" with a price target of $74.00, after recent downgrades from various analysts including Wall Street Zen and Morgan Stanley.

MGE Energy Inc. (NASDAQ:MGEE - Get Free Report) Director James Berbee acquired 254 shares of the stock in a transaction dated Monday, September 8th. The stock was bought at an average price of $83.75 per share, for a total transaction of $21,272.50. Following the completion of the purchase, the director owned 6,583 shares in the company, valued at approximately $551,326.25. This trade represents a 4.01% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

MGE Energy Price Performance

NASDAQ:MGEE traded up $0.15 on Tuesday, reaching $83.44. The stock had a trading volume of 93,026 shares, compared to its average volume of 146,367. The company has a quick ratio of 1.20, a current ratio of 1.80 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $3.05 billion, a P/E ratio of 23.18 and a beta of 0.80. MGE Energy Inc. has a 1-year low of $82.21 and a 1-year high of $109.22. The stock has a fifty day moving average price of $85.88 and a 200-day moving average price of $88.88.

MGE Energy (NASDAQ:MGEE - Get Free Report) last posted its earnings results on Wednesday, August 6th. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.73 by ($0.01). MGE Energy had a net margin of 18.24% and a return on equity of 10.58%. The firm had revenue of $159.45 million during the quarter. Research analysts forecast that MGE Energy Inc. will post 3.43 EPS for the current year.

MGE Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 1st will be issued a dividend of $0.475 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.90 annualized dividend and a yield of 2.3%. This is a positive change from MGE Energy's previous quarterly dividend of $0.45. MGE Energy's dividend payout ratio (DPR) is currently 52.78%.

Analysts Set New Price Targets

MGEE has been the subject of several research reports. Wall Street Zen cut MGE Energy from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Morgan Stanley reiterated an "underweight" rating on shares of MGE Energy in a report on Thursday, August 21st. Two analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, MGE Energy currently has an average rating of "Sell" and an average price target of $74.00.

Hedge Funds Weigh In On MGE Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Stifel Financial Corp lifted its position in MGE Energy by 12.3% in the 4th quarter. Stifel Financial Corp now owns 3,945 shares of the utilities provider's stock valued at $371,000 after acquiring an additional 433 shares in the last quarter. Benjamin Edwards Inc. bought a new stake in shares of MGE Energy in the fourth quarter valued at about $200,000. Bank of America Corp DE boosted its position in shares of MGE Energy by 7.0% during the fourth quarter. Bank of America Corp DE now owns 77,943 shares of the utilities provider's stock worth $7,324,000 after buying an additional 5,123 shares during the period. Baird Financial Group Inc. boosted its position in shares of MGE Energy by 24.9% during the fourth quarter. Baird Financial Group Inc. now owns 7,533 shares of the utilities provider's stock worth $708,000 after buying an additional 1,500 shares during the period. Finally, Deutsche Bank AG grew its holdings in shares of MGE Energy by 51.2% during the fourth quarter. Deutsche Bank AG now owns 30,621 shares of the utilities provider's stock worth $2,877,000 after buying an additional 10,373 shares in the last quarter. 52.58% of the stock is owned by institutional investors.

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.

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