MGE Energy, Inc. (NASDAQ:MGEE) Shares Bought by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC grew its stake in MGE Energy, Inc. (NASDAQ:MGEE) by 4.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,471 shares of the utilities provider’s stock after purchasing an additional 835 shares during the quarter. Exchange Traded Concepts LLC owned approximately 0.06% of MGE Energy worth $1,923,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Versant Capital Management Inc boosted its holdings in MGE Energy by 367.1% in the 4th quarter. Versant Capital Management Inc now owns 327 shares of the utilities provider’s stock worth $31,000 after buying an additional 257 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of MGE Energy by 88.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 357 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 168 shares in the last quarter. Assetmark Inc. acquired a new stake in shares of MGE Energy in the third quarter worth approximately $35,000. Covestor Ltd increased its position in shares of MGE Energy by 37.3% during the third quarter. Covestor Ltd now owns 453 shares of the utilities provider’s stock worth $42,000 after purchasing an additional 123 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in MGE Energy by 134.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,573 shares of the utilities provider’s stock valued at $144,000 after purchasing an additional 901 shares during the last quarter. Hedge funds and other institutional investors own 52.58% of the company’s stock.

MGE Energy Trading Down 1.7 %

Shares of MGE Energy stock opened at $85.70 on Monday. 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 stock’s 50 day simple moving average is $96.62 and its 200-day simple moving average is $91.94. The stock has a market cap of $3.10 billion, a P/E ratio of 26.21 and a beta of 0.76. MGE Energy, Inc. has a 1-year low of $61.94 and a 1-year high of $109.22.

MGE Energy (NASDAQ:MGEE) last released its quarterly earnings data on Wednesday, November 6th. The utilities provider reported $1.13 earnings per share for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.04). MGE Energy had a return on equity of 10.18% and a net margin of 17.70%. The company had revenue of $168.48 million for the quarter, compared to analyst estimates of $163.82 million. Analysts predict that MGE Energy, Inc. will post 3.43 EPS for the current fiscal year.

MGE Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 15th. Investors of record on Saturday, March 1st will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.10%. The ex-dividend date is Friday, February 28th. MGE Energy’s payout ratio is currently 55.05%.

Analysts Set New Price Targets

Separately, LADENBURG THALM/SH SH raised 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.