MGE Energy Inc. $MGEE Shares Purchased by LPL Financial LLC

LPL Financial LLC raised its stake in MGE Energy Inc. (NASDAQ:MGEE) by 4.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 24,305 shares of the utilities provider’s stock after purchasing an additional 1,038 shares during the quarter. LPL Financial LLC owned 0.07% of MGE Energy worth $2,259,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cetera Investment Advisers grew its position in MGE Energy by 7.0% in the 1st quarter. Cetera Investment Advisers now owns 29,173 shares of the utilities provider’s stock valued at $2,712,000 after buying an additional 1,905 shares during the last quarter. Royce & Associates LP boosted its holdings in shares of MGE Energy by 31.5% in the first quarter. Royce & Associates LP now owns 21,404 shares of the utilities provider’s stock valued at $1,990,000 after acquiring an additional 5,123 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in MGE Energy during the first quarter worth about $471,000. First Business Financial Services Inc. lifted its position in MGE Energy by 1.5% in the first quarter. First Business Financial Services Inc. now owns 46,276 shares of the utilities provider’s stock valued at $4,302,000 after purchasing an additional 692 shares during the period. Finally, Landaas & Co. WI ADV lifted its position in MGE Energy by 11.6% in the first quarter. Landaas & Co. WI ADV now owns 3,533 shares of the utilities provider’s stock valued at $328,000 after purchasing an additional 367 shares during the period. 52.58% of the stock is currently owned by hedge funds and other institutional investors.

MGE Energy Stock Performance

Shares of MGEE stock opened at $83.40 on Tuesday. The stock has a fifty day moving average price of $86.89 and a 200 day moving average price of $89.37. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.20 and a current ratio of 1.80. The stock has a market cap of $3.05 billion, a PE ratio of 23.17 and a beta of 0.76. MGE Energy Inc. has a 1 year low of $82.21 and a 1 year high of $109.22.

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

MGE Energy Increases Dividend

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

Insider Transactions at MGE Energy

In related news, Director James G. Berbee bought 507 shares of the stock in a transaction on Friday, August 15th. The shares were purchased at an average price of $83.83 per share, for a total transaction of $42,501.81. Following the acquisition, the director owned 6,329 shares in the company, valued at $530,560.07. This represents a 8.71% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. LADENBURG THALM/SH SH raised MGE Energy to a “strong sell” rating in a report on Friday, May 9th. Wall Street Zen cut shares of MGE Energy from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Finally, Morgan Stanley lowered their target price 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.

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.