Michael A. Dubis Financial Planning LLC Takes Position in MGE Energy, Inc. (NASDAQ:MGEE)

Michael A. Dubis Financial Planning LLC bought a new position in shares of MGE Energy, Inc. (NASDAQ:MGEE) in the fourth quarter, HoldingsChannel reports. The firm bought 2,125 shares of the utilities provider’s stock, valued at approximately $200,000.

Several other hedge funds have also recently bought and sold shares of the stock. Intech Investment Management LLC bought a new stake in shares of MGE Energy during the third quarter worth $424,000. Charles Schwab Investment Management Inc. increased its holdings in MGE Energy by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 425,461 shares of the utilities provider’s stock worth $38,908,000 after purchasing an additional 8,629 shares in the last quarter. Citigroup Inc. raised its stake in shares of MGE Energy by 62.4% in the 3rd quarter. Citigroup Inc. now owns 44,040 shares of the utilities provider’s stock valued at $4,027,000 after purchasing an additional 16,927 shares during the period. Cerity Partners LLC lifted its holdings in shares of MGE Energy by 30.1% in the third quarter. Cerity Partners LLC now owns 7,054 shares of the utilities provider’s stock valued at $645,000 after purchasing an additional 1,630 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its position in shares of MGE Energy by 5.1% during the third quarter. BNP Paribas Financial Markets now owns 11,838 shares of the utilities provider’s stock worth $1,083,000 after buying an additional 574 shares during the period. 52.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MGEE has been the topic of a number of recent research reports. LADENBURG THALM/SH SH raised MGE Energy to a “strong sell” rating in a research report on Monday, March 17th. Morgan Stanley lifted their price objective on shares of MGE Energy from $78.00 to $80.00 and gave the company an “underweight” rating in a report on Thursday, March 20th.

MGE Energy Price Performance

Shares of NASDAQ MGEE opened at $92.91 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.41 and a quick ratio of 0.94. The business has a 50-day moving average of $90.85 and a 200-day moving average of $93.57. The stock has a market capitalization of $3.39 billion, a price-to-earnings ratio of 28.41 and a beta of 0.72. MGE Energy, Inc. has a fifty-two week low of $72.27 and a fifty-two week high of $109.22.

MGE Energy (NASDAQ:MGEE) last posted its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.23). MGE Energy had a net margin of 17.70% and a return on equity of 10.18%. The company had revenue of $171.42 million during the quarter. As a group, sell-side analysts predict that MGE Energy, Inc. will post 3.43 earnings per share for the current fiscal year.

MGE Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend was Friday, February 28th. MGE Energy’s dividend payout ratio is currently 54.05%.

Insider Activity

In other news, Director James G. Berbee bought 446 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average cost of $90.83 per share, for a total transaction of $40,510.18. Following the purchase, the director now owns 11,532 shares of the company’s stock, valued at approximately $1,047,451.56. This trade represents a 4.02 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.19% of the company’s stock.

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.