First Business Financial Services Inc. Acquires 38,776 Shares of MGE Energy, Inc. (NASDAQ:MGEE)

First Business Financial Services Inc. raised its position in MGE Energy, Inc. (NASDAQ:MGEE - Free Report) by 569.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 45,584 shares of the utilities provider's stock after acquiring an additional 38,776 shares during the period. MGE Energy makes up about 0.4% of First Business Financial Services Inc.'s holdings, making the stock its 21st largest position. First Business Financial Services Inc. owned 0.13% of MGE Energy worth $4,283,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Versant Capital Management Inc raised its holdings in shares of MGE Energy by 367.1% in the 4th quarter. Versant Capital Management Inc now owns 327 shares of the utilities provider's stock worth $31,000 after acquiring an additional 257 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased 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 purchasing an additional 168 shares in the last quarter. Assetmark Inc. bought a new stake in MGE Energy during the 3rd quarter worth approximately $35,000. Covestor Ltd raised its stake in shares of MGE Energy by 37.3% in the third quarter. Covestor Ltd now owns 453 shares of the utilities provider's stock worth $42,000 after purchasing an additional 123 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of 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 purchasing an additional 929 shares in the last quarter. Institutional investors own 52.58% of the company's stock.

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Analyst Ratings Changes

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

MGE Energy Stock Up 1.2 %

Shares of MGEE traded up $1.11 during trading hours on Friday, reaching $89.96. 106,162 shares of the stock traded hands, compared to its average volume of 190,184. MGE Energy, Inc. has a 52 week low of $72.27 and a 52 week high of $109.22. 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 fifty day simple moving average of $90.84 and a 200 day simple moving average of $93.04. The company has a market cap of $3.28 billion, a price-to-earnings ratio of 27.51 and a beta of 0.72.

MGE Energy (NASDAQ:MGEE - Get Free Report) last announced its earnings results on Tuesday, February 25th. The utilities provider reported $0.61 earnings per share 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%. On average, equities analysts forecast that MGE Energy, Inc. will post 3.43 EPS for the current year.

MGE Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Friday, February 28th. MGE Energy's dividend payout ratio is presently 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.