First Business Financial Services Inc. Boosts Stock Position in MGE Energy, Inc. (NASDAQ:MGEE)

First Business Financial Services Inc. boosted its holdings in MGE Energy, Inc. (NASDAQ:MGEE) by 569.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,584 shares of the utilities provider’s stock after purchasing an additional 38,776 shares during the period. MGE Energy comprises 0.4% of First Business Financial Services Inc.’s holdings, making the stock its 21st largest position. First Business Financial Services Inc.’s holdings in MGE Energy were worth $4,283,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of MGEE. State Street Corp lifted its position 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 buying an additional 7,294 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of MGE Energy by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 863,707 shares of the utilities provider’s stock valued at $79,001,000 after buying an additional 5,796 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of MGE Energy by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 432,877 shares of the utilities provider’s stock valued at $40,673,000 after buying an additional 7,416 shares during the last quarter. Principal Financial Group Inc. lifted its position 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 valued at $17,988,000 after buying an additional 7,554 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC purchased a new position in shares of MGE Energy during the 3rd quarter valued at $11,765,000. Hedge funds and other institutional investors own 52.58% of the company’s stock.

MGE Energy Stock Performance

NASDAQ:MGEE opened at $89.69 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.94 and a current ratio of 1.41. MGE Energy, Inc. has a 52-week low of $72.27 and a 52-week high of $109.22. The firm has a market cap of $3.27 billion, a price-to-earnings ratio of 27.43 and a beta of 0.76. The business’s fifty day moving average is $91.18 and its 200 day moving average is $93.04.

MGE Energy (NASDAQ:MGEE) last released its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.23). MGE Energy had a net margin of 17.70% and a return on equity of 10.18%. The company had revenue of $171.42 million for the quarter. Research analysts predict that MGE Energy, Inc. will post 3.43 EPS for the current year.

MGE Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.01%. MGE Energy’s dividend payout ratio (DPR) is presently 54.05%.

Analyst Upgrades and Downgrades

Separately, LADENBURG THALM/SH SH raised MGE Energy to a “strong sell” rating in a research report on Thursday, December 12th.

MGE Energy Company 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.