Insider Buying: MGE Energy, Inc. (NASDAQ:MGEE) Director Acquires $40,510.18 in Stock

MGE Energy, Inc. (NASDAQ:MGEE) Director James G. Berbee bought 446 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The shares were acquired at an average cost of $90.83 per share, with a total value of $40,510.18. Following the completion of the purchase, the director now owns 11,532 shares of the company’s stock, valued at approximately $1,047,451.56. The trade was a 4.02 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link.

MGE Energy Stock Up 1.6 %

MGEE stock opened at $93.22 on Friday. MGE Energy, Inc. has a 52-week low of $72.27 and a 52-week high of $109.22. The company’s 50 day simple moving average is $90.68 and its 200-day simple moving average is $93.24. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.41 and a quick ratio of 0.94. The firm has a market capitalization of $3.40 billion, a P/E ratio of 28.51 and a beta of 0.72.

MGE Energy (NASDAQ:MGEE) last released its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.23). MGE Energy had a net margin of 17.70% and a return on equity of 10.18%. The firm had revenue of $171.42 million for the quarter. As a group, equities research analysts anticipate 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 was paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st were issued a dividend of $0.45 per share. The ex-dividend date was Friday, February 28th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.93%. MGE Energy’s dividend payout ratio is currently 54.05%.

Wall Street Analysts Forecast Growth

Separately, LADENBURG THALM/SH SH raised shares of MGE Energy to a “strong sell” rating in a research note on Thursday, December 12th.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc increased its stake in MGE Energy by 367.1% in the 4th quarter. Versant Capital Management Inc now owns 327 shares of the utilities provider’s stock valued at $31,000 after buying an additional 257 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its stake in MGE Energy by 88.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 357 shares of the utilities provider’s stock valued at $34,000 after buying an additional 168 shares during the period. Assetmark Inc. acquired a new position in MGE Energy in the 3rd quarter valued at approximately $35,000. Covestor Ltd increased its stake in MGE Energy by 37.3% in the 3rd quarter. Covestor Ltd now owns 453 shares of the utilities provider’s stock valued at $42,000 after buying an additional 123 shares during the period. Finally, Sterling Capital Management LLC increased its stake in MGE Energy by 656.2% in the 4th quarter. Sterling Capital Management LLC now owns 673 shares of the utilities provider’s stock valued at $63,000 after buying an additional 584 shares during the period. Institutional investors and hedge funds own 52.58% of the company’s stock.

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.