MGE Energy, Inc. (NASDAQ:MGEE - Get Free Report) Director James G. Berbee acquired 446 shares of the firm's stock in a transaction dated Wednesday, March 12th. The stock was bought at an average price of $90.83 per share, with a total value of $40,510.18. Following the acquisition, the director now directly owns 11,532 shares in the company, valued at $1,047,451.56. This represents a 4.02 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.
MGE Energy Trading Up 0.9 %
MGEE stock opened at $91.77 on Friday. MGE Energy, Inc. has a 52 week low of $72.27 and a 52 week high of $109.22. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.94 and a current ratio of 1.41. The company's 50-day simple moving average is $90.71 and its 200 day simple moving average is $93.15. The company has a market capitalization of $3.35 billion, a PE ratio of 28.06 and a beta of 0.72.
MGE Energy (NASDAQ:MGEE - Get Free Report) last released 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 business had revenue of $171.42 million during the quarter. As a group, sell-side analysts anticipate that MGE Energy, Inc. will post 3.43 earnings per share for the current year.
MGE Energy Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.80 annualized dividend and a dividend yield of 1.96%. MGE Energy's payout ratio is 54.05%.
Wall Street Analysts Forecast Growth
Separately, LADENBURG THALM/SH SH upgraded MGE Energy to a "strong sell" rating in a report on Thursday, December 12th.
Check Out Our Latest Report on MGEE
Institutional Trading of MGE Energy
Several institutional investors and hedge funds have recently modified their holdings of MGEE. State Street Corp raised its stake in MGE Energy by 0.5% during the third quarter. State Street Corp now owns 1,460,360 shares of the utilities provider's stock worth $133,550,000 after acquiring an additional 7,294 shares in the last quarter. Geode Capital Management LLC increased its holdings in MGE Energy by 0.7% in the third quarter. Geode Capital Management LLC now owns 863,707 shares of the utilities provider's stock valued at $79,001,000 after purchasing an additional 5,796 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of MGE Energy by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 769,612 shares of the utilities provider's stock worth $72,314,000 after acquiring an additional 2,225 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of MGE Energy by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 432,877 shares of the utilities provider's stock valued at $40,673,000 after purchasing an additional 7,416 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in MGE Energy by 6.7% during the 4th quarter. Northern Trust Corp now owns 393,127 shares of the utilities provider's stock worth $36,938,000 after acquiring an additional 24,605 shares during the period. 52.58% of the stock is currently owned by institutional investors.
About MGE Energy
(
Get Free Report)
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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