Dana Investment Advisors Inc. Invests $312,000 in MGE Energy, Inc. (NASDAQ:MGEE)

Dana Investment Advisors Inc. acquired a new stake in MGE Energy, Inc. (NASDAQ:MGEE - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,318 shares of the utilities provider's stock, valued at approximately $312,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of MGEE. Versant Capital Management Inc lifted its position in shares of MGE Energy by 367.1% during the fourth quarter. Versant Capital Management Inc now owns 327 shares of the utilities provider's stock worth $31,000 after purchasing an additional 257 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in MGE Energy by 88.9% during the 4th 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. Assetmark Inc. acquired a new position in shares of MGE Energy in the 3rd quarter worth approximately $35,000. Covestor Ltd increased its holdings in shares of MGE Energy by 37.3% in the 3rd quarter. Covestor Ltd now owns 453 shares of the utilities provider's stock valued at $42,000 after acquiring an additional 123 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its position in shares of MGE Energy by 507.7% during the 4th 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. 52.58% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Wall Street Analyst Weigh In

Separately, LADENBURG THALM/SH SH raised shares of MGE Energy to a "strong sell" rating in a report on Thursday, December 12th.

MGE Energy Stock Performance

NASDAQ:MGEE traded up $0.83 during midday trading on Thursday, reaching $91.77. 133,497 shares of the company traded hands, compared to its average volume of 185,730. The firm has a market capitalization of $3.35 billion, a price-to-earnings ratio of 28.06 and a beta of 0.72. The company has a fifty day moving average price of $90.71 and a 200 day moving average price of $93.15. 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, Inc. has a twelve month low of $72.27 and a twelve month high of $109.22.

MGE Energy (NASDAQ:MGEE - Get Free Report) last posted 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 firm had revenue of $171.42 million for the quarter. MGE Energy had a net margin of 17.70% and a return on equity of 10.18%. On average, analysts expect that MGE Energy, Inc. will post 3.43 EPS for the current fiscal year.

MGE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 15th. Investors of record on Saturday, March 1st will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date is Friday, February 28th. MGE Energy's payout ratio is 54.05%.

Insiders Place Their Bets

In other MGE Energy news, Director James G. Berbee purchased 446 shares of the company's stock in a transaction dated 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 purchase, the director now directly owns 11,532 shares in the company, valued at $1,047,451.56. This trade represents a 4.02 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.19% of the company's stock.

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.