First Trust Advisors LP Buys 11,432 Shares of MGE Energy Inc. $MGEE

First Trust Advisors LP increased its stake in MGE Energy Inc. (NASDAQ:MGEE) by 2.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 511,382 shares of the utilities provider’s stock after purchasing an additional 11,432 shares during the period. First Trust Advisors LP owned 1.40% of MGE Energy worth $43,048,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of MGEE. Steward Partners Investment Advisory LLC boosted its position in MGE Energy by 107.3% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 485 shares of the utilities provider’s stock valued at $43,000 after buying an additional 251 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of MGE Energy by 19.1% during the second quarter. Smartleaf Asset Management LLC now owns 1,326 shares of the utilities provider’s stock worth $117,000 after acquiring an additional 213 shares during the last quarter. Allworth Financial LP lifted its stake in shares of MGE Energy by 2,430.0% during the second quarter. Allworth Financial LP now owns 1,518 shares of the utilities provider’s stock valued at $134,000 after acquiring an additional 1,458 shares during the period. Ellenbecker Investment Group acquired a new position in shares of MGE Energy during the third quarter valued at $207,000. Finally, Quantbot Technologies LP bought a new position in MGE Energy in the third quarter valued at about $213,000. Institutional investors and hedge funds own 52.58% of the company’s stock.

MGE Energy Stock Down 0.5%

Shares of MGE Energy stock opened at $73.77 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.77 and a debt-to-equity ratio of 0.61. MGE Energy Inc. has a 12 month low of $72.78 and a 12 month high of $94.79. The business has a fifty day simple moving average of $79.67 and a 200 day simple moving average of $81.71. The stock has a market cap of $2.70 billion, a PE ratio of 19.83 and a beta of 0.81.

MGE Energy (NASDAQ:MGEE) last released its earnings results on Tuesday, February 24th. The utilities provider reported $0.64 earnings per share for the quarter, meeting the consensus estimate of $0.64. MGE Energy had a return on equity of 10.60% and a net margin of 18.27%.The firm had revenue of $189.55 million for the quarter. Research analysts predict that MGE Energy Inc. will post 3.43 EPS for the current year.

MGE Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, March 15th. Investors of record on Sunday, March 1st will be given a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Friday, February 27th. MGE Energy’s dividend payout ratio (DPR) is currently 51.08%.

Analyst Ratings Changes

Several analysts have weighed in on MGEE shares. Weiss Ratings reissued a “hold (c+)” rating on shares of MGE Energy in a report on Monday, December 29th. Wall Street Zen raised shares of MGE Energy from a “sell” rating to a “hold” rating in a research note on Sunday, March 8th. Finally, Morgan Stanley lowered their price target on shares of MGE Energy from $74.00 to $73.00 and set an “underweight” rating for the company in a research report on Monday, February 2nd. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $78.00.

Insiders Place Their Bets

In other news, Director James G. Berbee acquired 373 shares of MGE Energy stock in a transaction that occurred on Wednesday, March 11th. The shares were acquired at an average price of $77.74 per share, with a total value of $28,997.02. Following the purchase, the director directly owned 9,362 shares of the company’s stock, valued at $727,801.88. The trade was a 4.15% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.19% of the stock is owned by insiders.

MGE Energy Profile

MGE Energy, Inc is a public utility holding company headquartered in Madison, Wisconsin. Through its principal subsidiary, Madison Gas and Electric Company (MGE), the company provides regulated electric and natural gas distribution services to residential, commercial and industrial customers in south-central Wisconsin. MGE Energy’s operations encompass the generation, transmission and distribution of electricity as well as the purchase and distribution of natural gas, with an emphasis on reliable service and system resilience.

Since reorganizing as a holding company in 2001, MGE Energy has expanded its portfolio to include nonregulated subsidiaries involved in renewable energy development, energy services and infrastructure support.