Wealth Enhancement Advisory Services LLC Reduces Position in MGE Energy, Inc. (NASDAQ:MGEE)

Wealth Enhancement Advisory Services LLC lowered its holdings in MGE Energy, Inc. (NASDAQ:MGEE) by 2.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,734 shares of the utilities provider’s stock after selling 273 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in MGE Energy were worth $1,009,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. JPMorgan Chase & Co. raised its position in shares of MGE Energy by 145.0% in the 4th quarter. JPMorgan Chase & Co. now owns 146,008 shares of the utilities provider’s stock valued at $13,719,000 after purchasing an additional 86,423 shares in the last quarter. Millennium Management LLC raised its holdings in MGE Energy by 134.8% in the fourth quarter. Millennium Management LLC now owns 106,611 shares of the utilities provider’s stock valued at $10,017,000 after acquiring an additional 61,200 shares in the last quarter. Susquehanna International Group LLP boosted its stake in MGE Energy by 307.8% during the 4th quarter. Susquehanna International Group LLP now owns 78,843 shares of the utilities provider’s stock valued at $7,408,000 after acquiring an additional 59,510 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in MGE Energy during the 4th quarter valued at $4,556,000. Finally, Great Lakes Advisors LLC acquired a new position in MGE Energy during the 4th quarter worth $4,210,000. Hedge funds and other institutional investors own 52.58% of the company’s stock.

Insider Activity

In related news, Director James G. Berbee acquired 446 shares of MGE Energy stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average price of $90.83 per share, for a total transaction of $40,510.18. Following the transaction, the director now directly owns 11,532 shares of the company’s stock, valued at $1,047,451.56. This trade represents a 4.02% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.19% of the company’s stock.

MGE Energy Stock Performance

MGE Energy stock opened at $88.13 on Monday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.41 and a quick ratio of 0.94. MGE Energy, Inc. has a 12 month low of $72.27 and a 12 month high of $109.22. The company has a fifty day moving average price of $90.23 and a two-hundred day moving average price of $92.34. The company has a market cap of $3.22 billion, a PE ratio of 26.95 and a beta of 0.78.

MGE Energy (NASDAQ:MGEE) last posted its quarterly earnings results on Wednesday, May 7th. The utilities provider reported $1.14 EPS for the quarter, beating the consensus estimate of $0.98 by $0.16. The business had revenue of $218.97 million during the quarter, compared to analyst estimates of $202.42 million. MGE Energy had a net margin of 17.70% and a return on equity of 10.18%. Research analysts expect that MGE Energy, Inc. will post 3.43 earnings per share for the current year.

MGE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Friday, May 30th. MGE Energy’s dividend payout ratio (DPR) is presently 50.85%.

Wall Street Analyst Weigh In

MGEE has been the topic of several research analyst reports. Morgan Stanley reduced their price target on shares of MGE Energy from $75.00 to $74.00 and set an “underweight” rating on the stock in a research report on Thursday, May 22nd. LADENBURG THALM/SH SH upgraded MGE Energy to a “strong sell” rating in a research note on Friday, May 9th.

About MGE Energy

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.