Cibc World Markets Corp Takes Position in MGE Energy, Inc. (NASDAQ:MGEE)

Cibc World Markets Corp bought a new position in shares of MGE Energy, Inc. (NASDAQ:MGEE - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 3,411 shares of the utilities provider's stock, valued at approximately $320,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MGEE. Charles Schwab Investment Management Inc. increased its position in MGE Energy by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 425,461 shares of the utilities provider's stock worth $38,908,000 after acquiring an additional 8,629 shares during the period. JPMorgan Chase & Co. increased its holdings 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 worth $5,449,000 after purchasing an additional 8,233 shares during the period. Martingale Asset Management L P raised its position in shares of MGE Energy by 67.8% during the third quarter. Martingale Asset Management L P now owns 11,912 shares of the utilities provider's stock valued at $1,089,000 after buying an additional 4,812 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of MGE Energy by 62,788.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 5,660 shares of the utilities provider's stock valued at $532,000 after buying an additional 5,651 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its position in MGE Energy by 2.7% during the third 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. Institutional investors and hedge funds own 52.58% of the company's stock.

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Analysts Set New Price Targets

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

MGE Energy Trading Up 0.5 %

NASDAQ:MGEE traded up $0.42 during trading hours on Friday, hitting $92.91. 71,400 shares of the stock were exchanged, compared to its average volume of 146,621. 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 twelve month low of $72.27 and a twelve month high of $109.22. The company has a market capitalization of $3.39 billion, a P/E ratio of 28.41 and a beta of 0.72. The company's 50 day moving average is $90.85 and its two-hundred day moving average is $93.57.

MGE Energy (NASDAQ:MGEE - Get Free Report) last released 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). MGE Energy had a net margin of 17.70% and a return on equity of 10.18%. The business had revenue of $171.42 million for the quarter. On average, sell-side analysts anticipate that MGE Energy, Inc. will post 3.43 earnings per share for the current fiscal year.

MGE Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date was Friday, February 28th. MGE Energy's dividend payout ratio (DPR) is currently 54.05%.

Insider Transactions at MGE Energy

In related news, Director James G. Berbee bought 446 shares of the business's stock in a transaction on Wednesday, March 12th. The shares were purchased at an average price of $90.83 per share, with a total value 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 represents a 4.02 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.19% of the stock is owned by corporate insiders.

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.