Martingale Asset Management L P Buys 8,585 Shares of MGE Energy, Inc. (NASDAQ:MGEE)

Martingale Asset Management L P lifted its holdings in MGE Energy, Inc. (NASDAQ:MGEE - Free Report) by 72.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,497 shares of the utilities provider's stock after purchasing an additional 8,585 shares during the quarter. Martingale Asset Management L P owned 0.06% of MGE Energy worth $1,926,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in MGEE. JPMorgan Chase & Co. lifted its stake in MGE Energy by 145.0% in the fourth quarter. JPMorgan Chase & Co. now owns 146,008 shares of the utilities provider's stock valued at $13,719,000 after acquiring an additional 86,423 shares during the last quarter. Barclays PLC grew its holdings in MGE Energy by 345.8% during the third quarter. Barclays PLC now owns 62,308 shares of the utilities provider's stock worth $5,697,000 after purchasing an additional 48,330 shares during the period. Great Lakes Advisors LLC bought a new stake in MGE Energy in the fourth quarter valued at approximately $4,210,000. First Business Financial Services Inc. raised its stake in MGE Energy by 569.6% in the 4th quarter. First Business Financial Services Inc. now owns 45,584 shares of the utilities provider's stock valued at $4,283,000 after acquiring an additional 38,776 shares during the period. Finally, Invesco Ltd. raised its position in shares of MGE Energy by 30.3% in the fourth quarter. Invesco Ltd. now owns 139,852 shares of the utilities provider's stock valued at $13,140,000 after purchasing an additional 32,555 shares during the period. Institutional investors and hedge funds own 52.58% of the company's stock.

MGE Energy Price Performance

Shares of NASDAQ:MGEE traded up $0.01 during trading on Wednesday, hitting $90.77. 20,999 shares of the company were exchanged, compared to its average volume of 143,406. The company has a market capitalization of $3.32 billion, a P/E ratio of 27.76 and a beta of 0.71. MGE Energy, Inc. has a 1-year low of $72.27 and a 1-year high of $109.22. The company has a quick ratio of 0.94, a current ratio of 1.41 and a debt-to-equity ratio of 0.60. The business's 50 day moving average is $90.95 and its 200-day moving average is $93.52.

MGE Energy (NASDAQ:MGEE - Get Free Report) last announced its quarterly 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). 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 during the quarter. Equities analysts forecast that MGE Energy, Inc. will post 3.43 earnings per share for the current year.

MGE Energy Announces Dividend

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

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Morgan Stanley lifted their price target 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 raised MGE Energy to a "strong sell" rating in a research note on Monday, March 17th.

Insiders Place Their Bets

In related news, Director James G. Berbee bought 446 shares of MGE Energy stock in a transaction dated Wednesday, March 12th. The stock was purchased 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 of the company's stock, valued at approximately $1,047,451.56. The trade was a 4.02 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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.