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
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
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.
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