Deutsche Bank AG Has $3.86 Million Stock Position in MGE Energy Inc. $MGEE

Deutsche Bank AG grew its stake in MGE Energy Inc. (NASDAQ:MGEE) by 35.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 41,471 shares of the utilities provider’s stock after purchasing an additional 10,850 shares during the quarter. Deutsche Bank AG owned about 0.11% of MGE Energy worth $3,855,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Guggenheim Capital LLC bought a new stake in shares of MGE Energy in the 4th quarter valued at $232,000. GAMMA Investing LLC increased its position in shares of MGE Energy by 5.4% in the 1st quarter. GAMMA Investing LLC now owns 4,908 shares of the utilities provider’s stock valued at $456,000 after buying an additional 251 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of MGE Energy by 45.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,220 shares of the utilities provider’s stock valued at $764,000 after buying an additional 2,560 shares in the last quarter. Bank of America Corp DE increased its position in shares of MGE Energy by 7.0% in the 4th quarter. Bank of America Corp DE now owns 77,943 shares of the utilities provider’s stock valued at $7,324,000 after buying an additional 5,123 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in MGE Energy during the 1st quarter worth about $332,000. Institutional investors and hedge funds own 52.58% of the company’s stock.

Analyst Upgrades and Downgrades

MGEE has been the subject of a number of research reports. Morgan Stanley lowered their target price on MGE Energy from $75.00 to $74.00 and set an “underweight” rating for the company in a report on Thursday, May 22nd. LADENBURG THALM/SH SH upgraded MGE Energy to a “strong sell” rating in a report on Friday, May 9th. Finally, Wall Street Zen cut MGE Energy from a “buy” rating to a “hold” rating in a report on Saturday, July 26th.

MGE Energy Price Performance

MGEE stock opened at $83.40 on Tuesday. The stock has a 50-day moving average price of $86.89 and a two-hundred day moving average price of $89.37. The stock has a market cap of $3.05 billion, a PE ratio of 23.17 and a beta of 0.76. The company has a current ratio of 1.80, a quick ratio of 1.20 and a debt-to-equity ratio of 0.60. MGE Energy Inc. has a 1 year low of $82.21 and a 1 year high of $109.22.

MGE Energy (NASDAQ:MGEE) last announced its quarterly earnings data on Wednesday, August 6th. The utilities provider reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.01). The company had revenue of $159.45 million during the quarter. MGE Energy had a net margin of 18.24% and a return on equity of 10.58%. Equities analysts forecast that MGE Energy Inc. will post 3.43 EPS for the current fiscal year.

MGE Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 1st will be issued a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Friday, August 29th. This is a positive change from MGE Energy’s previous quarterly dividend of $0.45. MGE Energy’s dividend payout ratio is 50.00%.

Insider Buying and Selling at MGE Energy

In related news, Director James G. Berbee acquired 507 shares of the firm’s stock in a transaction dated Friday, August 15th. The stock was bought at an average price of $83.83 per share, for a total transaction of $42,501.81. Following the acquisition, the director directly owned 6,329 shares of the company’s stock, valued at approximately $530,560.07. The trade was a 8.71% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.19% of the stock is owned by insiders.

MGE Energy 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.