First Business Financial Services Inc. Acquires 38,776 Shares of MGE Energy, Inc. (NASDAQ:MGEE)

First Business Financial Services Inc. boosted its holdings in MGE Energy, Inc. (NASDAQ:MGEE) by 569.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 45,584 shares of the utilities provider’s stock after purchasing an additional 38,776 shares during the quarter. MGE Energy comprises 0.4% of First Business Financial Services Inc.’s holdings, making the stock its 21st largest holding. First Business Financial Services Inc. owned 0.13% of MGE Energy worth $4,283,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. increased its holdings in shares of MGE Energy by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 425,461 shares of the utilities provider’s stock valued at $38,908,000 after acquiring an additional 8,629 shares in the last quarter. Royce & Associates LP increased its holdings in shares of MGE Energy by 155.4% during the third quarter. Royce & Associates LP now owns 11,668 shares of the utilities provider’s stock valued at $1,067,000 after acquiring an additional 7,099 shares in the last quarter. GSA Capital Partners LLP bought a new stake in shares of MGE Energy during the third quarter valued at approximately $584,000. JPMorgan Chase & Co. increased its holdings in shares of MGE Energy by 16.0% during the third quarter. JPMorgan Chase & Co. now owns 59,585 shares of the utilities provider’s stock valued at $5,449,000 after acquiring an additional 8,233 shares in the last quarter. Finally, Quest Partners LLC increased its holdings in shares of MGE Energy by 2,789.7% during the third quarter. Quest Partners LLC now owns 13,495 shares of the utilities provider’s stock valued at $1,234,000 after acquiring an additional 13,028 shares in the last quarter. 52.58% of the stock is currently owned by institutional investors.

MGE Energy Trading Down 1.3 %

Shares of MGE Energy stock opened at $89.69 on Thursday. The stock has a fifty day simple moving average of $91.18 and a 200 day simple moving average of $93.04. MGE Energy, Inc. has a 12-month low of $72.27 and a 12-month high of $109.22. The company has a market capitalization of $3.27 billion, a P/E ratio of 27.43 and a beta of 0.76. The company has a current ratio of 1.41, a quick ratio of 0.94 and a debt-to-equity ratio of 0.60.

MGE Energy (NASDAQ:MGEE) last announced its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate 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. On average, sell-side analysts anticipate that MGE Energy, Inc. will post 3.43 earnings per share for the current fiscal year.

MGE Energy Dividend Announcement

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

Wall Street Analyst Weigh In

Separately, LADENBURG THALM/SH SH upgraded MGE Energy to a “strong sell” rating in a 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.