Harbour Investments Inc. Grows Position in MGE Energy, Inc. (NASDAQ:MGEE)

Harbour Investments Inc. grew its position in MGE Energy, Inc. (NASDAQ:MGEE) by 4.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,883 shares of the utilities provider’s stock after buying an additional 2,708 shares during the quarter. Harbour Investments Inc.’s holdings in MGE Energy were worth $5,815,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. State Street Corp grew its holdings in MGE Energy by 0.5% in 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 period. Geode Capital Management LLC increased its holdings in shares of MGE Energy by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 863,707 shares of the utilities provider’s stock valued at $79,001,000 after acquiring an additional 5,796 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in 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 worth $40,673,000 after buying an additional 7,416 shares during the last quarter. Principal Financial Group Inc. grew its stake in MGE Energy by 4.1% during the 4th quarter. Principal Financial Group Inc. now owns 191,447 shares of the utilities provider’s stock worth $17,988,000 after buying an additional 7,554 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC acquired a new position in MGE Energy during the 3rd quarter worth $11,765,000. Hedge funds and other institutional investors own 52.58% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Transactions at MGE Energy

In other news, Director James G. Berbee bought 446 shares of the stock in a transaction dated Wednesday, March 12th. The stock was bought at an average cost of $90.83 per share, with a total value of $40,510.18. Following the purchase, the director now owns 11,532 shares of the company’s stock, valued at approximately $1,047,451.56. This represents a 4.02 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 0.19% of the stock is currently owned by insiders.

MGE Energy Stock Performance

Shares of MGEE stock opened at $93.22 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.41 and a quick ratio of 0.94. MGE Energy, Inc. has a fifty-two week low of $72.27 and a fifty-two week high of $109.22. The stock’s 50-day moving average is $90.68 and its two-hundred day moving average is $93.24. The firm has a market cap of $3.40 billion, a P/E ratio of 28.51 and a beta of 0.72.

MGE Energy (NASDAQ:MGEE) last issued its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.61 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. Analysts predict that MGE Energy, Inc. will post 3.43 earnings per share for the current fiscal year.

MGE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st were issued a $0.45 dividend. The ex-dividend date was Friday, February 28th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.93%. MGE Energy’s payout ratio 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.