Russell Investments Group Ltd. Acquires 11,579 Shares of MGE Energy, Inc. (NASDAQ:MGEE)

Russell Investments Group Ltd. boosted its position in MGE Energy, Inc. (NASDAQ:MGEE – Get Rating) by 106.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,486 shares of the utilities provider’s stock after buying an additional 11,579 shares during the quarter. Russell Investments Group Ltd.’s holdings in MGE Energy were worth $1,583,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MGEE. Lindbrook Capital LLC lifted its holdings in MGE Energy by 1,000.0% during the 4th quarter. Lindbrook Capital LLC now owns 407 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 370 shares during the last quarter. Romano Brothers AND Company bought a new stake in MGE Energy in the fourth quarter valued at approximately $58,000. Captrust Financial Advisors increased its stake in MGE Energy by 14.7% in the second quarter. Captrust Financial Advisors now owns 913 shares of the utilities provider’s stock valued at $71,000 after purchasing an additional 117 shares in the last quarter. Signaturefd LLC increased its position in shares of MGE Energy by 68.1% during the fourth quarter. Signaturefd LLC now owns 1,049 shares of the utilities provider’s stock worth $74,000 after acquiring an additional 425 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of MGE Energy by 30.3% during the third quarter. EverSource Wealth Advisors LLC now owns 1,291 shares of the utilities provider’s stock worth $85,000 after acquiring an additional 300 shares in the last quarter. 50.74% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other MGE Energy news, Director James G. Berbee acquired 1,146 shares of the company’s stock in a transaction on Friday, March 10th. The stock was acquired at an average price of $70.19 per share, for a total transaction of $80,437.74. Following the purchase, the director now directly owns 7,722 shares of the company’s stock, valued at $542,007.18. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.23% of the company’s stock.

MGE Energy Stock Performance

NASDAQ MGEE opened at $75.09 on Wednesday. The firm has a 50-day moving average of $77.00 and a 200-day moving average of $73.15. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.05 and a current ratio of 1.53. The stock has a market cap of $2.72 billion, a PE ratio of 25.28, a P/E/G ratio of 4.22 and a beta of 0.72. MGE Energy, Inc. has a 52-week low of $61.67 and a 52-week high of $86.27.

MGE Energy (NASDAQ:MGEE – Get Rating) last posted its earnings results on Wednesday, February 22nd. The utilities provider reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.08). MGE Energy had a return on equity of 9.98% and a net margin of 14.89%. The company had revenue of $189.83 million for the quarter, compared to analyst estimates of $171.35 million. On average, sell-side analysts anticipate that MGE Energy, Inc. will post 3.37 EPS for the current year.

MGE Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st will be paid a $0.4075 dividend. This is a boost from MGE Energy’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Wednesday, May 31st. This represents a $1.63 annualized dividend and a yield of 2.17%. MGE Energy’s payout ratio is 54.88%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. StockNews.com initiated coverage on shares of MGE Energy in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Morgan Stanley increased their price target on shares of MGE Energy from $68.00 to $72.00 and gave the company an “underweight” rating in a research note on Thursday, April 20th.

About MGE Energy

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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.