Prudential Financial Inc. Trims Holdings in MGE Energy, Inc. (NASDAQ:MGEE)

Prudential Financial Inc. lowered its holdings in MGE Energy, Inc. (NASDAQ:MGEE) by 1.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 36,620 shares of the utilities provider’s stock after selling 560 shares during the quarter. Prudential Financial Inc. owned approximately 0.10% of MGE Energy worth $3,441,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of MGEE. Hotchkis & Wiley Capital Management LLC purchased a new stake in MGE Energy in the third quarter worth $11,765,000. Barclays PLC raised its holdings in MGE Energy by 345.8% in the 3rd quarter. Barclays PLC now owns 62,308 shares of the utilities provider’s stock worth $5,697,000 after purchasing an additional 48,330 shares in the last quarter. Great Lakes Advisors LLC purchased a new stake in shares of MGE Energy in the 4th quarter worth about $4,210,000. First Business Financial Services Inc. increased its position in shares of MGE Energy by 569.6% during the fourth quarter. First Business Financial Services Inc. now owns 45,584 shares of the utilities provider’s stock valued at $4,283,000 after buying an additional 38,776 shares during the period. Finally, Citigroup Inc. raised its stake in MGE Energy by 62.4% in the third quarter. Citigroup Inc. now owns 44,040 shares of the utilities provider’s stock worth $4,027,000 after buying an additional 16,927 shares in the last quarter. Hedge funds and other institutional investors own 52.58% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on MGEE shares. LADENBURG THALM/SH SH raised MGE Energy to a “strong sell” rating in a research report on Monday, March 17th. Morgan Stanley upped their price target on MGE Energy from $78.00 to $80.00 and gave the stock an “underweight” rating in a research note on Thursday, March 20th.

Insider Transactions at MGE Energy

In other news, Director James G. Berbee acquired 446 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The stock was bought at an average cost of $90.83 per share, for a total transaction of $40,510.18. Following the acquisition, the director now directly owns 11,532 shares in the company, valued at approximately $1,047,451.56. The trade was a 4.02 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.19% of the company’s stock.

MGE Energy Stock Performance

MGE Energy stock opened at $92.92 on Wednesday. The stock’s 50 day moving average is $90.81 and its 200 day moving average is $93.71. The company has a market capitalization of $3.39 billion, a P/E ratio of 28.42 and a beta of 0.72. MGE Energy, Inc. has a twelve month low of $72.27 and a twelve month high of $109.22. 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 (NASDAQ:MGEE) last released its earnings results on Tuesday, February 25th. The utilities provider reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.23). The company had revenue of $171.42 million during the quarter. MGE Energy had a return on equity of 10.18% and a net margin of 17.70%. On average, equities research analysts predict that MGE Energy, Inc. will post 3.43 earnings per share for the current fiscal year.

MGE Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were issued a $0.45 dividend. The ex-dividend date was Friday, February 28th. This represents a $1.80 annualized dividend and a yield of 1.94%. MGE Energy’s dividend payout ratio (DPR) is presently 54.05%.

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.