3,400 Shares in MGE Energy, Inc. (NASDAQ:MGEE) Purchased by Cannon Global Investment Management LLC

Cannon Global Investment Management LLC acquired a new position in MGE Energy, Inc. (NASDAQ:MGEE - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,400 shares of the utilities provider's stock, valued at approximately $319,000.

A number of other institutional investors also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. boosted its position in shares of MGE Energy by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 425,461 shares of the utilities provider's stock worth $38,908,000 after purchasing an additional 8,629 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of MGE Energy by 16.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 59,585 shares of the utilities provider's stock valued at $5,449,000 after buying an additional 8,233 shares in the last quarter. Martingale Asset Management L P boosted its holdings in MGE Energy by 67.8% in the 3rd quarter. Martingale Asset Management L P now owns 11,912 shares of the utilities provider's stock worth $1,089,000 after buying an additional 4,812 shares during the period. Allspring Global Investments Holdings LLC increased its stake in MGE Energy by 62,788.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 5,660 shares of the utilities provider's stock worth $532,000 after buying an additional 5,651 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its stake in MGE Energy by 2.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 30,849 shares of the utilities provider's stock worth $2,821,000 after buying an additional 818 shares in the last quarter. 52.58% of the stock is owned by institutional investors.

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Insider Activity

In other MGE Energy news, Director James G. Berbee purchased 446 shares of MGE Energy stock in a transaction that occurred 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 transaction, the director now owns 11,532 shares of the company's stock, valued at approximately $1,047,451.56. This trade represents a 4.02 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.19% of the company's stock.

MGE Energy Price Performance

MGEE traded up $0.42 during trading on Friday, hitting $92.91. 71,400 shares of the company traded hands, compared to its average volume of 146,323. The company has a current ratio of 1.41, a quick ratio of 0.94 and a debt-to-equity ratio of 0.60. The company has a market cap of $3.39 billion, a PE ratio of 28.41 and a beta of 0.72. The stock's 50-day simple moving average is $90.85 and its two-hundred day simple moving average is $93.57. MGE Energy, Inc. has a 1 year low of $72.27 and a 1 year high of $109.22.

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 the consensus estimate of $0.84 by ($0.23). The firm 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, sell-side analysts anticipate that MGE Energy, Inc. will post 3.43 earnings per share for the current fiscal year.

MGE Energy Announces Dividend

The company also recently disclosed 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 of this dividend was Friday, February 28th. This represents a $1.80 annualized dividend and a dividend yield of 1.94%. MGE Energy's dividend payout ratio (DPR) is 54.05%.

Analyst Upgrades and Downgrades

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

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.