Johnson Financial Group Inc. Increases Stake in MGE Energy, Inc. (NASDAQ:MGEE)

Johnson Financial Group Inc. boosted its position in shares of MGE Energy, Inc. (NASDAQ:MGEE) by 249.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 10,164 shares of the utilities provider’s stock after purchasing an additional 7,257 shares during the period. Johnson Financial Group Inc.’s holdings in MGE Energy were worth $735,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of MGEE. Covestor Ltd boosted its holdings in shares of MGE Energy by 31.6% during the 3rd quarter. Covestor Ltd now owns 641 shares of the utilities provider’s stock valued at $44,000 after acquiring an additional 154 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of MGE Energy during the 3rd quarter valued at about $47,000. Raymond James & Associates purchased a new stake in shares of MGE Energy during the 3rd quarter valued at about $202,000. Neuberger Berman Group LLC purchased a new stake in shares of MGE Energy during the 4th quarter valued at about $213,000. Finally, Milestone Investment Advisors LLC purchased a new stake in shares of MGE Energy during the 3rd quarter valued at about $225,000. 52.58% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at MGE Energy

In other news, Director James G. Berbee bought 458 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were bought at an average price of $82.16 per share, for a total transaction of $37,629.28. Following the purchase, the director now owns 9,725 shares in the company, valued at $799,006. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. StockNews.com raised shares of MGE Energy from a “sell” rating to a “hold” rating in a report on Monday, May 20th. TheStreet downgraded shares of MGE Energy from a “b” rating to a “c+” rating in a report on Tuesday, January 30th.

MGE Energy Stock Performance

Shares of NASDAQ:MGEE traded down $0.11 during trading on Friday, hitting $78.22. The company’s stock had a trading volume of 128,898 shares, compared to its average volume of 142,363. The company has a 50-day moving average of $78.33 and a 200-day moving average of $73.39. MGE Energy, Inc. has a 12 month low of $61.94 and a 12 month high of $83.27. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.09. The firm has a market cap of $2.83 billion, a price-to-earnings ratio of 23.56 and a beta of 0.72.

MGE Energy (NASDAQ:MGEE) last issued its quarterly earnings data on Wednesday, February 21st. The utilities provider reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.06). MGE Energy had a return on equity of 10.60% and a net margin of 18.12%. The business had revenue of $164.65 million during the quarter, compared to the consensus estimate of $190.55 million. On average, sell-side analysts expect that MGE Energy, Inc. will post 3.69 earnings per share for the current year.

MGE Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 15th. Stockholders of record on Saturday, June 1st will be paid a $0.428 dividend. This represents a $1.71 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Friday, May 31st. MGE Energy’s dividend payout ratio (DPR) is presently 51.51%.

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.