8,308 Shares in MGE Energy, Inc. (NASDAQ:MGEE) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new stake in shares of MGE Energy, Inc. (NASDAQ:MGEE - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,308 shares of the utilities provider's stock, valued at approximately $781,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Merit Financial Group LLC grew its stake in shares of MGE Energy by 1.7% in the fourth quarter. Merit Financial Group LLC now owns 7,079 shares of the utilities provider's stock valued at $665,000 after buying an additional 116 shares in the last quarter. Savant Capital LLC raised its stake in shares of MGE Energy by 2.9% during the fourth quarter. Savant Capital LLC now owns 4,922 shares of the utilities provider's stock valued at $462,000 after purchasing an additional 139 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of MGE Energy by 88.9% during the fourth 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. Choreo LLC boosted its stake in shares of MGE Energy by 10.8% in the fourth quarter. Choreo LLC now owns 2,526 shares of the utilities provider's stock valued at $238,000 after purchasing an additional 247 shares during the period. Finally, Versant Capital Management Inc grew its holdings in MGE Energy by 367.1% during the 4th quarter. Versant Capital Management Inc now owns 327 shares of the utilities provider's stock valued at $31,000 after purchasing an additional 257 shares in the last quarter. 52.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Buying and Selling

In other news, Director James G. Berbee purchased 446 shares of MGE Energy stock in a transaction dated Wednesday, March 12th. The stock was bought at an average price of $90.83 per share, with a total value of $40,510.18. Following the completion of the acquisition, the director now owns 11,532 shares in the company, valued at $1,047,451.56. The trade was a 4.02 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.19% of the stock is owned by company insiders.

MGE Energy Stock Down 1.4 %

Shares of MGEE stock traded down $1.29 during trading hours on Thursday, hitting $87.77. 214,460 shares of the company were exchanged, compared to its average volume of 144,811. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.94 and a current ratio of 1.41. The stock has a market capitalization of $3.20 billion, a price-to-earnings ratio of 26.84 and a beta of 0.71. MGE Energy, Inc. has a one year low of $72.27 and a one year high of $109.22. The business's 50-day simple moving average is $90.94 and its two-hundred day simple moving average is $93.52.

MGE Energy (NASDAQ:MGEE - Get Free Report) last posted 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). 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%. Sell-side analysts predict that MGE Energy, Inc. will post 3.43 EPS for the current fiscal year.

MGE Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.05%. The ex-dividend date was Friday, February 28th. MGE Energy's dividend payout ratio (DPR) 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.