1ST Source Bank Makes New Investment in MGE Energy, Inc. (NASDAQ:MGEE)

1ST Source Bank purchased a new position in shares of MGE Energy, Inc. (NASDAQ:MGEE) during the fourth quarter, Holdings Channel.com reports. The firm purchased 5,248 shares of the utilities provider’s stock, valued at approximately $493,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of MGEE. Assetmark Inc. bought a new position in shares of MGE Energy during the 3rd quarter worth approximately $35,000. Crossmark Global Holdings Inc. purchased a new stake in MGE Energy in the 3rd quarter valued at $290,000. GSA Capital Partners LLP purchased a new stake in MGE Energy in the 3rd quarter valued at $584,000. Royce & Associates LP raised its position in MGE Energy by 155.4% in the 3rd quarter. Royce & Associates LP now owns 11,668 shares of the utilities provider’s stock valued at $1,067,000 after buying an additional 7,099 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its position in MGE Energy by 2.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 30,849 shares of the utilities provider’s stock valued at $2,821,000 after buying an additional 818 shares during the last quarter. 52.58% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director James G. Berbee acquired 446 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The stock was bought at an average price of $90.83 per share, with a total value of $40,510.18. Following the acquisition, the director now owns 11,532 shares in the company, valued at $1,047,451.56. The trade was a 4.02 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

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

MGE Energy Trading Down 0.2 %

Shares of MGE Energy stock opened at $93.04 on Tuesday. MGE Energy, Inc. has a 1 year low of $72.27 and a 1 year high of $109.22. The firm has a market cap of $3.40 billion, a PE ratio of 28.45 and a beta of 0.72. The stock has a fifty day moving average price of $90.73 and a 200-day moving average price of $93.33. 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 (NASDAQ:MGEE) last announced its 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 net margin of 17.70% and a return on equity of 10.18%. The business had revenue of $171.42 million for the quarter. Equities research analysts anticipate that MGE Energy, Inc. will post 3.43 EPS for the current year.

MGE Energy Dividend Announcement

The firm also recently announced 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 annualized dividend and a dividend yield of 1.93%. The ex-dividend date was Friday, February 28th. MGE Energy’s dividend 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.