Edgestream Partners L.P. Buys Shares of 19,798 MGE Energy, Inc. (NASDAQ:MGEE)

Edgestream Partners L.P. bought a new stake in MGE Energy, Inc. (NASDAQ:MGEE) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 19,798 shares of the utilities provider’s stock, valued at approximately $1,566,000. Edgestream Partners L.P. owned approximately 0.05% of MGE Energy as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its holdings in shares of MGE Energy by 5,333.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 326 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 320 shares during the last quarter. Avalon Trust Co bought a new stake in shares of MGE Energy in the 1st quarter valued at approximately $47,000. Money Concepts Capital Corp bought a new stake in shares of MGE Energy in the 4th quarter valued at approximately $48,000. Ameritas Advisory Services LLC bought a new stake in shares of MGE Energy in the 1st quarter valued at approximately $49,000. Finally, Steward Partners Investment Advisory LLC increased its holdings in shares of MGE Energy by 39.0% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 834 shares of the utilities provider’s stock valued at $65,000 after acquiring an additional 234 shares during the last quarter. 54.08% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director James G. Berbee acquired 434 shares of the stock in a transaction that occurred on Friday, August 25th. The stock was purchased at an average cost of $74.84 per share, for a total transaction of $32,480.56. Following the purchase, the director now directly owns 8,291 shares in the company, valued at $620,498.44. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.23% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on MGEE shares. Morgan Stanley lowered their price target on MGE Energy from $65.00 to $61.00 and set an “underweight” rating for the company in a report on Wednesday, October 25th. StockNews.com upgraded MGE Energy from a “sell” rating to a “hold” rating in a report on Saturday, November 11th.

MGE Energy Price Performance

Shares of MGEE opened at $73.49 on Tuesday. The company has a market cap of $2.66 billion, a P/E ratio of 22.41, a PEG ratio of 4.09 and a beta of 0.76. The stock has a fifty day moving average price of $71.90 and a 200 day moving average price of $74.95. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.76 and a quick ratio of 1.17. MGE Energy, Inc. has a 12 month low of $65.10 and a 12 month high of $83.27.

MGE Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be paid a dividend of $0.428 per share. The ex-dividend date is Thursday, November 30th. This represents a $1.71 dividend on an annualized basis and a yield of 2.33%. MGE Energy’s payout ratio is currently 52.13%.

MGE Energy Company Profile

MGE Energy, Inc, through its subsidiaries, operates as a public utility holding company primarily in Wisconsin. 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; and plans, constructs, operates, maintains, and expands transmission facilities to provide transmission services.