Harbour Investments Inc. Raises Stock Holdings in MGE Energy, Inc. (NASDAQ:MGEE)

Harbour Investments Inc. boosted its stake in MGE Energy, Inc. (NASDAQ:MGEE) by 4.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 61,883 shares of the utilities provider’s stock after buying an additional 2,708 shares during the period. Harbour Investments Inc. owned approximately 0.17% of MGE Energy worth $5,815,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its holdings in MGE Energy by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 425,461 shares of the utilities provider’s stock valued at $38,908,000 after buying an additional 8,629 shares during the period. Royce & Associates LP increased its stake in MGE Energy by 155.4% during the third quarter. Royce & Associates LP now owns 11,668 shares of the utilities provider’s stock worth $1,067,000 after purchasing an additional 7,099 shares during the period. GSA Capital Partners LLP purchased a new stake in MGE Energy during the third quarter worth about $584,000. JPMorgan Chase & Co. increased its stake in MGE Energy by 16.0% during the third quarter. JPMorgan Chase & Co. now owns 59,585 shares of the utilities provider’s stock worth $5,449,000 after purchasing an additional 8,233 shares during the period. Finally, Quest Partners LLC increased its stake in MGE Energy by 2,789.7% during the third quarter. Quest Partners LLC now owns 13,495 shares of the utilities provider’s stock worth $1,234,000 after purchasing an additional 13,028 shares during the period. 52.58% of the stock is currently owned by hedge funds and other institutional investors.

MGE Energy Stock Up 1.6 %

Shares of NASDAQ:MGEE opened at $93.22 on Friday. MGE Energy, Inc. has a 1 year low of $72.27 and a 1 year high of $109.22. The firm has a market capitalization of $3.40 billion, a PE ratio of 28.51 and a beta of 0.72. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.41 and a quick ratio of 0.94. The firm’s 50-day moving average is $90.68 and its two-hundred day moving average is $93.24.

MGE Energy (NASDAQ:MGEE) last announced 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 return on equity of 10.18% and a net margin of 17.70%. The company had revenue of $171.42 million for the quarter. Analysts predict that MGE Energy, Inc. will post 3.43 EPS for the current year.

MGE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend was Friday, February 28th. MGE Energy’s dividend payout ratio is presently 54.05%.

Insider Transactions at MGE Energy

In other MGE Energy news, Director James G. Berbee purchased 446 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average cost of $90.83 per share, with a total value of $40,510.18. Following the completion of the acquisition, the director now directly owns 11,532 shares of the company’s stock, valued at $1,047,451.56. This trade represents a 4.02 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

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

About MGE Energy

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.