Geode Capital Management LLC Has $80.68 Million Position in MGE Energy, Inc. (NASDAQ:MGEE)

Geode Capital Management LLC lessened its holdings in MGE Energy, Inc. (NASDAQ:MGEE - Free Report) by 0.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 858,517 shares of the utilities provider's stock after selling 5,190 shares during the period. Geode Capital Management LLC owned about 2.37% of MGE Energy worth $80,684,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of MGEE. State Street Corp grew its holdings in shares of MGE Energy by 0.5% during the 3rd quarter. State Street Corp now owns 1,460,360 shares of the utilities provider's stock valued at $133,550,000 after acquiring an additional 7,294 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in MGE Energy by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 432,877 shares of the utilities provider's stock worth $40,673,000 after purchasing an additional 7,416 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of MGE Energy by 4.1% during the 4th quarter. Principal Financial Group Inc. now owns 191,447 shares of the utilities provider's stock worth $17,988,000 after purchasing an additional 7,554 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of MGE Energy by 145.0% during the 4th quarter. JPMorgan Chase & Co. now owns 146,008 shares of the utilities provider's stock valued at $13,719,000 after buying an additional 86,423 shares during the last quarter. Finally, Swiss National Bank grew its stake in shares of MGE Energy by 0.7% in the 4th quarter. Swiss National Bank now owns 71,150 shares of the utilities provider's stock valued at $6,685,000 after buying an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 52.58% of the company's stock.

Insider Buying and Selling

In other MGE Energy news, Director James G. Berbee purchased 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 represents a 4.02 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.19% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on MGEE. Morgan Stanley raised their price objective on shares of MGE Energy from $78.00 to $80.00 and gave the company an "underweight" rating in a research report on Thursday, March 20th. LADENBURG THALM/SH SH raised shares of MGE Energy to a "strong sell" rating in a research note on Monday, March 17th.

MGE Energy Stock Performance

MGEE traded up $0.92 on Thursday, hitting $91.24. The company had a trading volume of 18,454 shares, compared to its average volume of 143,270. The stock has a market cap of $3.33 billion, a price-to-earnings ratio of 27.93 and a beta of 0.71. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.41 and a quick ratio of 0.94. The company's fifty day moving average price is $90.95 and its 200 day moving average price is $93.49. MGE Energy, Inc. has a 1-year low of $72.27 and a 1-year high of $109.22.

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

MGE Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st were paid 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 1.97%. MGE Energy's payout ratio is presently 54.05%.

About MGE Energy

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.