MGE Energy, Inc. (NASDAQ:MGEE) Stock Holdings Lessened by Geode Capital Management LLC

Geode Capital Management LLC lessened its stake in MGE Energy, Inc. (NASDAQ:MGEE) by 0.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 858,517 shares of the utilities provider’s stock after selling 5,190 shares during the quarter. Geode Capital Management LLC owned 2.37% of MGE Energy worth $80,684,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Merit Financial Group LLC lifted its position in shares of MGE Energy by 1.7% in the fourth quarter. Merit Financial Group LLC now owns 7,079 shares of the utilities provider’s stock worth $665,000 after buying an additional 116 shares during the last quarter. Savant Capital LLC lifted its holdings in MGE Energy by 2.9% in the 4th quarter. Savant Capital LLC now owns 4,922 shares of the utilities provider’s stock worth $462,000 after purchasing an additional 139 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its position in MGE Energy by 88.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 357 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 168 shares during the period. Teacher Retirement System of Texas grew its holdings in MGE Energy by 1.4% during the fourth quarter. Teacher Retirement System of Texas now owns 12,553 shares of the utilities provider’s stock valued at $1,179,000 after purchasing an additional 177 shares during the last quarter. Finally, Royal London Asset Management Ltd. raised its position in shares of MGE Energy by 0.5% in the fourth quarter. Royal London Asset Management Ltd. now owns 34,449 shares of the utilities provider’s stock valued at $3,237,000 after purchasing an additional 186 shares during the period. Institutional investors and hedge funds own 52.58% of the company’s stock.

Analysts Set New Price Targets

MGEE has been the topic of a number of research analyst reports. LADENBURG THALM/SH SH upgraded shares of MGE Energy to a “strong sell” rating in a research note on Monday, March 17th. Morgan Stanley raised their price target on MGE Energy from $78.00 to $80.00 and gave the company an “underweight” rating in a research report on Thursday, March 20th.

MGE Energy Trading Up 1.8 %

Shares of MGE Energy stock opened at $89.33 on Friday. The company has a market cap of $3.26 billion, a price-to-earnings ratio of 27.32 and a beta of 0.71. MGE Energy, Inc. has a 1 year low of $72.27 and a 1 year high of $109.22. The company’s fifty day simple moving average is $90.94 and its 200-day simple moving average is $93.51. The company has a current ratio of 1.41, a quick ratio of 0.94 and a debt-to-equity ratio of 0.60.

MGE Energy (NASDAQ:MGEE) last posted its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.61 earnings per share (EPS) 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 company had revenue of $171.42 million for the quarter. As a group, sell-side analysts expect that MGE Energy, Inc. will post 3.43 EPS for the current year.

MGE Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were given a $0.45 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.02%. MGE Energy’s dividend payout ratio is currently 54.05%.

Insiders Place Their Bets

In other news, Director James G. Berbee bought 446 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average cost of $90.83 per share, for a total transaction of $40,510.18. Following the completion of the purchase, the director now owns 11,532 shares of the company’s stock, valued at $1,047,451.56. This trade represents a 4.02 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

About MGE Energy

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.