ExodusPoint Capital Management LP Invests $1.61 Million in MGE Energy, Inc. (NASDAQ:MGEE)

ExodusPoint Capital Management LP bought a new position in shares of MGE Energy, Inc. (NASDAQ:MGEE - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 17,162 shares of the utilities provider's stock, valued at approximately $1,613,000.

Several other institutional investors have also modified their holdings of MGEE. Madison Investment Advisors LLC bought a new stake in shares of MGE Energy in the fourth quarter worth $295,000. JPMorgan Chase & Co. raised its stake in shares of MGE Energy by 16.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 59,585 shares of the utilities provider's stock valued at $5,449,000 after purchasing an additional 8,233 shares in the last quarter. Allspring Global Investments Holdings LLC lifted 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 worth $532,000 after purchasing an additional 5,651 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of MGE Energy during the fourth quarter worth about $208,000. Finally, State Street Corp grew its stake in MGE Energy by 0.5% in the third quarter. State Street Corp now owns 1,460,360 shares of the utilities provider's stock worth $133,550,000 after purchasing an additional 7,294 shares in the last quarter. Institutional investors and hedge funds own 52.58% of the company's stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at MGE Energy

In other news, Director James G. Berbee bought 446 shares of the company's stock in a transaction on Wednesday, March 12th. The shares were bought at an average cost of $90.83 per share, with a total value of $40,510.18. Following the transaction, the director now directly owns 11,532 shares in the company, 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 Securities & Exchange Commission, which can be accessed through this link. 0.19% of the stock is owned by corporate insiders.

MGE Energy Stock Performance

MGEE traded up $1.50 during trading on Monday, reaching $90.83. 7,280 shares of the company were exchanged, compared to its average volume of 143,957. 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 stock has a market cap of $3.32 billion, a P/E ratio of 27.78 and a beta of 0.71. MGE Energy, Inc. has a 52 week low of $72.27 and a 52 week high of $109.22. The firm has a 50 day moving average of $90.94 and a 200 day moving average of $93.54.

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

MGE Energy Announces Dividend

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

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.