James G. Berbee Acquires 1,146 Shares of MGE Energy, Inc. (NASDAQ:MGEE) Stock

MGE Energy, Inc. (NASDAQ:MGEE – Get Rating) Director James G. Berbee acquired 1,146 shares of the stock in a transaction dated Friday, March 10th. The shares were bought at an average price of $70.19 per share, with a total value of $80,437.74. Following the completion of the purchase, the director now directly owns 7,722 shares of the company’s stock, valued at approximately $542,007.18. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

MGE Energy Trading Up 2.1 %

NASDAQ:MGEE opened at $71.03 on Tuesday. MGE Energy, Inc. has a 12 month low of $61.67 and a 12 month high of $86.27. The firm has a fifty day simple moving average of $71.36 and a 200-day simple moving average of $71.02. The company has a current ratio of 1.08, a quick ratio of 0.75 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $2.57 billion, a P/E ratio of 23.21, a PEG ratio of 4.71 and a beta of 0.69.

MGE Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Wednesday, March 1st will be given a dividend of $0.407 per share. The ex-dividend date of this dividend is Tuesday, February 28th. This represents a $1.63 dividend on an annualized basis and a yield of 2.29%. MGE Energy’s dividend payout ratio is presently 53.27%.

Wall Street Analyst Weigh In

Separately, Morgan Stanley lifted their price objective on shares of MGE Energy from $68.00 to $72.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 22nd.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Macquarie Group Ltd. lifted its position in MGE Energy by 19.4% during the fourth quarter. Macquarie Group Ltd. now owns 24,251 shares of the utilities provider’s stock valued at $1,707,000 after purchasing an additional 3,941 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in MGE Energy by 3.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 9,282 shares of the utilities provider’s stock valued at $653,000 after purchasing an additional 271 shares during the period. Harbour Investments Inc. lifted its position in MGE Energy by 14.1% during the fourth quarter. Harbour Investments Inc. now owns 61,556 shares of the utilities provider’s stock valued at $4,334,000 after purchasing an additional 7,621 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in MGE Energy during the fourth quarter valued at $595,000. Finally, T. Rowe Price Investment Management Inc. lifted its position in MGE Energy by 9.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,663,504 shares of the utilities provider’s stock valued at $187,511,000 after purchasing an additional 222,061 shares during the period. 50.74% of the stock is currently owned by institutional investors and hedge funds.

MGE Energy Company Profile

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MGE Energy, Inc engages in the provision of natural gases and electric services. It operates though the following segments: Regulated Electric Utility Operations, Regulated Gas Utility Operations, Non-Regulated Energy Operations, Transmission Investments, and All Other. The Regulated Electric Utility Operations segment involves generating, purchasing, and distributing electricity.