Great Lakes Advisors LLC Takes Position in MGE Energy, Inc. (NASDAQ:MGEE)

Great Lakes Advisors LLC purchased a new stake in MGE Energy, Inc. (NASDAQ:MGEE) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 44,804 shares of the utilities provider’s stock, valued at approximately $4,210,000. Great Lakes Advisors LLC owned about 0.12% of MGE Energy as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Farther Finance Advisors LLC lifted its stake in shares of MGE Energy by 7,321.7% in the 4th quarter. Farther Finance Advisors LLC now owns 1,707 shares of the utilities provider’s stock valued at $160,000 after purchasing an additional 1,684 shares during the last quarter. HighTower Advisors LLC raised its holdings in shares of MGE Energy by 3.4% in the 4th quarter. HighTower Advisors LLC now owns 7,266 shares of the utilities provider’s stock valued at $683,000 after buying an additional 236 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of MGE Energy by 14.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,556 shares of the utilities provider’s stock valued at $804,000 after buying an additional 1,048 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of MGE Energy in the 4th quarter valued at $781,000. Finally, First Business Financial Services Inc. raised its holdings in shares of MGE Energy by 569.6% in the 4th quarter. First Business Financial Services Inc. now owns 45,584 shares of the utilities provider’s stock valued at $4,283,000 after buying an additional 38,776 shares during the period. Institutional investors and hedge funds own 52.58% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other MGE Energy news, Director James G. Berbee acquired 446 shares of the stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average cost of $90.83 per share, with a total value of $40,510.18. Following the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is owned by company insiders.

MGE Energy Price Performance

Shares of NASDAQ MGEE opened at $93.22 on Friday. The stock’s 50-day moving average is $90.68 and its two-hundred day moving average is $93.14. 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, Inc. has a 1-year low of $72.27 and a 1-year high of $109.22. The company has a market cap of $3.40 billion, a price-to-earnings ratio of 28.51 and a beta of 0.72.

MGE Energy (NASDAQ:MGEE) last issued its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.61 earnings per share 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. Analysts forecast that MGE Energy, Inc. will post 3.43 EPS for the current fiscal year.

MGE Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 15th. Shareholders 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 1.93%. MGE Energy’s dividend payout ratio (DPR) is 54.05%.

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.