MGE Energy (NASDAQ:MGEE) Director Acquires 275 Shares

Key Points

• MGE Energy director James Berbee purchased 275 shares at an average price of $77.35, investing $21,271.25 and increasing his holdings by 2.82% to 10,013 shares.
• The company reported quarterly EPS of $0.89, exceeding analysts’ $0.77 estimate, while revenue of $161.19 million came in below expectations.
• MGE Energy raised its quarterly dividend to $0.5083 per share, equivalent to an annualized $2.03 payout and a 2.7% yield; analysts collectively rate the stock “Hold,” with a $77.50 consensus price target.

MGE Energy Inc. (NASDAQ:MGEE - Get Free Report) Director James Berbee purchased 275 shares of the business's stock in a transaction dated Wednesday, September 9th. The stock was bought at an average price of $77.35 per share, for a total transaction of $21,271.25. Following the completion of the acquisition, the director owned 10,013 shares of the company's stock, valued at approximately $774,505.55. The trade was a 2.82% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.

MGE Energy Trading Down 0.1%

MGE Energy stock traded down $0.07 during trading hours on Friday, hitting $76.37. The company had a trading volume of 16,898 shares, compared to its average volume of 219,766. 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 $2.89 billion, a P/E ratio of 18.76 and a beta of 0.70. The company has a 50-day moving average price of $80.33 and a two-hundred day moving average price of $78.56. MGE Energy Inc. has a 1 year low of $72.16 and a 1 year high of $87.94.

MGE Energy (NASDAQ:MGEE - Get Free Report) last issued its earnings results on Wednesday, August 5th. The utilities provider reported $0.89 EPS for the quarter, topping analysts' consensus estimates of $0.77 by $0.12. The business had revenue of $161.19 million for the quarter, compared to analyst estimates of $166.37 million. MGE Energy had a net margin of 19.45% and a return on equity of 11.10%. On average, sell-side analysts anticipate that MGE Energy Inc. will post 3.99 earnings per share for the current year.

MGE Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a $0.5083 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $2.03 dividend on an annualized basis and a dividend yield of 2.7%. This is a boost from MGE Energy's previous quarterly dividend of $0.47. MGE Energy's dividend payout ratio (DPR) is 49.88%.

Wall Street Analyst Weigh In

MGEE has been the subject of a number of analyst reports. Weiss Ratings restated a "hold (c)" rating on shares of MGE Energy in a research note on Wednesday, August 5th. LADENBURG THALM/SH SH upgraded 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. Finally, Morgan Stanley decreased their price target on shares of MGE Energy from $76.00 to $74.00 and set an "underweight" rating for the company in a research report on Friday, August 21st. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, MGE Energy presently has an average rating of "Hold" and a consensus price target of $77.50.

Hedge Funds Weigh In On MGE Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hantz Financial Services Inc. raised its position in MGE Energy by 63.8% during the 4th quarter. Hantz Financial Services Inc. now owns 416 shares of the utilities provider's stock worth $33,000 after buying an additional 162 shares during the last quarter. Advisory Services Network LLC acquired a new stake in shares of MGE Energy during the 3rd quarter worth approximately $40,000. Avalon Trust Co purchased a new position in shares of MGE Energy in the second quarter valued at approximately $49,000. Highland Investment Advisors LLC acquired a new position in shares of MGE Energy during the 2nd quarter worth approximately $60,000. Finally, Parallel Advisors LLC grew its holdings in shares of MGE Energy by 28.6% in the third quarter. Parallel Advisors LLC now owns 714 shares of the utilities provider's stock valued at $60,000 after purchasing an additional 159 shares during the period. Hedge funds and other institutional investors own 52.58% of the company's stock.

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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