Madison Investment Advisors LLC Takes $295,000 Position in MGE Energy, Inc. (NASDAQ:MGEE)

Madison Investment Advisors LLC bought a new stake in MGE Energy, Inc. (NASDAQ:MGEE - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,138 shares of the utilities provider's stock, valued at approximately $295,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Versant Capital Management Inc grew its stake in MGE Energy by 367.1% during the 4th quarter. Versant Capital Management Inc now owns 327 shares of the utilities provider's stock valued at $31,000 after purchasing an additional 257 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of MGE Energy by 88.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 357 shares of the utilities provider's stock worth $34,000 after buying an additional 168 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in MGE Energy by 507.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,112 shares of the utilities provider's stock valued at $105,000 after acquiring an additional 929 shares in the last quarter. KBC Group NV boosted its stake in MGE Energy by 32.2% during the 4th quarter. KBC Group NV now owns 1,478 shares of the utilities provider's stock valued at $139,000 after acquiring an additional 360 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in MGE Energy by 7,321.7% during the 4th quarter. Farther Finance Advisors LLC now owns 1,707 shares of the utilities provider's stock worth $160,000 after acquiring an additional 1,684 shares in the last quarter. 52.58% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Activity

In other news, Director James G. Berbee purchased 446 shares of the company's stock in a transaction on Wednesday, March 12th. The shares were bought at an average price 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.19% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MGEE. Morgan Stanley increased their price target on shares of MGE Energy from $78.00 to $80.00 and gave the stock an "underweight" rating in a research report on Thursday, March 20th. LADENBURG THALM/SH SH upgraded MGE Energy to a "strong sell" rating in a research report on Monday, March 17th.

MGE Energy Stock Performance

Shares of NASDAQ:MGEE traded up $0.56 on Wednesday, reaching $91.00. 128,018 shares of the company's stock were exchanged, compared to its average volume of 145,578. The business's 50-day moving average is $90.91 and its two-hundred day moving average is $93.56. 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 fifty-two week low of $72.27 and a fifty-two week high of $109.22. The firm has a market capitalization of $3.32 billion, a price-to-earnings ratio of 27.83 and a beta of 0.72.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.84 by ($0.23). The business 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%. As a group, equities research analysts forecast that MGE Energy, Inc. will post 3.43 EPS for the current year.

MGE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date was Friday, February 28th. MGE Energy's payout ratio is 54.05%.

MGE Energy 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.