Magellan Asset Management Ltd Has $2.17 Million Position in MGE Energy, Inc. (NASDAQ:MGEE)

Magellan Asset Management Ltd lessened its position in MGE Energy, Inc. (NASDAQ:MGEE) by 20.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 23,095 shares of the utilities provider’s stock after selling 5,770 shares during the period. Magellan Asset Management Ltd owned about 0.06% of MGE Energy worth $2,170,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its holdings in shares of MGE Energy by 16.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 59,585 shares of the utilities provider’s stock worth $5,449,000 after acquiring an additional 8,233 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in MGE Energy by 62,788.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 5,660 shares of the utilities provider’s stock worth $532,000 after purchasing an additional 5,651 shares in the last quarter. Hotchkis & Wiley Capital Management LLC bought a new stake in shares of MGE Energy during the third quarter worth $11,765,000. Y Intercept Hong Kong Ltd bought a new stake in shares of MGE Energy during the fourth quarter worth $208,000. Finally, Citigroup Inc. increased its stake in shares of MGE Energy by 62.4% in the third quarter. Citigroup Inc. now owns 44,040 shares of the utilities provider’s stock valued at $4,027,000 after buying an additional 16,927 shares in the last quarter. 52.58% of the stock is owned by institutional investors.

Insider Buying and Selling at MGE Energy

In related news, Director James G. Berbee purchased 446 shares of the business’s stock in a transaction dated Wednesday, March 12th. The shares were bought at an average price of $90.83 per share, with a total value of $40,510.18. Following the purchase, the director now directly owns 11,532 shares in the company, valued at $1,047,451.56. This trade represents a 4.02 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.19% of the company’s stock.

MGE Energy Trading Up 0.2 %

MGEE stock opened at $93.07 on Thursday. The company has a quick ratio of 0.94, a current ratio of 1.41 and a debt-to-equity ratio of 0.60. MGE Energy, Inc. has a twelve month low of $72.27 and a twelve month high of $109.22. The company has a market cap of $3.40 billion, a P/E ratio of 28.46 and a beta of 0.72. The business has a fifty day moving average of $90.92 and a 200-day moving average of $93.71.

MGE Energy (NASDAQ:MGEE) last announced its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.61 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.23). MGE Energy had a return on equity of 10.18% and a net margin of 17.70%. The firm had revenue of $171.42 million for the quarter. As a group, equities research analysts expect that MGE Energy, Inc. will post 3.43 EPS for the current year.

MGE Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Saturday, March 1st were issued a $0.45 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.80 annualized dividend and a yield of 1.93%. MGE Energy’s dividend payout ratio is currently 54.05%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Morgan Stanley increased their price objective on shares of MGE Energy from $78.00 to $80.00 and gave the stock an “underweight” rating in a report on Thursday, March 20th. LADENBURG THALM/SH SH upgraded shares of MGE Energy to a “strong sell” rating in a research report on Monday, March 17th.

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.