1ST Source Bank Invests $493,000 in MGE Energy, Inc. (NASDAQ:MGEE)

1ST Source Bank bought a new stake in shares of MGE Energy, Inc. (NASDAQ:MGEE - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 5,248 shares of the utilities provider's stock, valued at approximately $493,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Assetmark Inc. acquired a new position in shares of MGE Energy in the third quarter worth $35,000. Crossmark Global Holdings Inc. purchased a new stake in MGE Energy during the 3rd quarter worth about $290,000. GSA Capital Partners LLP acquired a new position in MGE Energy in the 3rd quarter valued at about $584,000. Royce & Associates LP lifted its holdings in MGE Energy by 155.4% in the 3rd quarter. Royce & Associates LP now owns 11,668 shares of the utilities provider's stock valued at $1,067,000 after purchasing an additional 7,099 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its stake in shares of MGE Energy by 2.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 30,849 shares of the utilities provider's stock worth $2,821,000 after purchasing an additional 818 shares during the last quarter. Institutional investors and hedge funds own 52.58% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. LADENBURG THALM/SH SH raised shares of MGE Energy to a "strong sell" rating in a research report on Monday. Morgan Stanley boosted their price target on MGE Energy from $78.00 to $80.00 and gave the company an "underweight" rating in a report on Thursday.

Remove Ads

MGE Energy Trading Down 1.4 %

NASDAQ:MGEE traded down $1.25 during trading hours on Friday, reaching $91.31. 374,395 shares of the company were exchanged, compared to its average volume of 148,346. The firm has a market cap of $3.33 billion, a price-to-earnings ratio of 27.92 and a beta of 0.72. The stock has a 50 day simple moving average of $90.82 and a 200 day simple moving average of $93.36. MGE Energy, Inc. has a 52-week low of $72.27 and a 52-week high of $109.22. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.41 and a quick ratio of 0.94.

MGE Energy (NASDAQ:MGEE - Get Free Report) last issued its earnings results 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 during the quarter. As a group, analysts predict that MGE Energy, Inc. will post 3.43 EPS for the current year.

MGE Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were given 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 yield of 1.97%. MGE Energy's dividend payout ratio (DPR) is 54.05%.

Insiders Place Their Bets

In related news, Director James G. Berbee purchased 446 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average cost of $90.83 per share, for a total transaction of $40,510.18. Following the acquisition, the director now owns 11,532 shares in the company, valued at approximately $1,047,451.56. This trade represents a 4.02 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is owned by insiders.

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.