Insider Buying: MGE Energy (NASDAQ:MGEE) Director Purchases 261 Shares of Stock

Key Points

• Director James Berbee bought 261 MGE Energy shares at an average price of $81.30, investing $21,219.30 and increasing his ownership by 2.75% to 9,738 shares.
• MGE Energy reported quarterly EPS of $0.89, beating the $0.77 consensus estimate, while revenue of $161.19 million fell short of the $166.37 million forecast.
• MGEE shares recently traded at $80.48, while analysts maintain a consensus “Hold” rating with an average price target of $78.50; institutional investors own 52.58% of the stock.

MGE Energy Inc. (NASDAQ:MGEE - Get Free Report) Director James Berbee acquired 261 shares of the stock in a transaction dated Wednesday, August 19th. The shares were bought at an average cost of $81.30 per share, for a total transaction of $21,219.30. Following the completion of the transaction, the director owned 9,738 shares in the company, valued at approximately $791,699.40. This represents a 2.75% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.

MGE Energy Price Performance

Shares of MGEE traded down $0.76 during mid-day trading on Thursday, reaching $80.48. The stock had a trading volume of 89,813 shares, compared to its average volume of 228,257. The business has a fifty day moving average of $80.42 and a 200 day moving average of $78.83. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.79 and a current ratio of 1.14. The firm has a market cap of $3.04 billion, a price-to-earnings ratio of 19.77 and a beta of 0.71. MGE Energy Inc. has a 12 month low of $72.16 and a 12 month high of $88.01.

MGE Energy (NASDAQ:MGEE - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The utilities provider reported $0.89 EPS for the quarter, beating the consensus estimate of $0.77 by $0.12. MGE Energy had a net margin of 19.45% and a return on equity of 11.10%. The firm had revenue of $161.19 million for the quarter, compared to the consensus estimate of $166.37 million. Equities analysts predict that MGE Energy Inc. will post 3.99 EPS for the current year.

Hedge Funds Weigh In On MGE Energy

Several institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC increased its holdings in MGE Energy by 18.8% in the 1st quarter. AQR Capital Management LLC now owns 8,275 shares of the utilities provider's stock valued at $769,000 after acquiring an additional 1,312 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of 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 last quarter. United Services Automobile Association purchased a new position in shares of MGE Energy during the first quarter valued at about $220,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of MGE Energy by 18.8% during 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 in the last quarter. Finally, Jane Street Group LLC increased its holdings in shares of MGE Energy by 718.5% in the first 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 last quarter. 52.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on MGEE shares. Weiss Ratings restated a "hold (c)" rating on shares of MGE Energy in a research report on Wednesday, August 5th. Morgan Stanley reiterated an "underweight" rating and set a $76.00 target price on shares of MGE Energy in a research report on Wednesday, July 22nd. Finally, LADENBURG THALM/SH SH raised MGE Energy from a "neutral" rating to a "buy" rating and set a $81.00 target price on the stock in a research note on Monday, June 8th. 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, the company currently has an average rating of "Hold" and an average price target of $78.50.

MGE Energy Company Profile

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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