James L. Possin Buys 300 Shares of MGE Energy, Inc. (NASDAQ:MGEE) Stock

MGE Energy, Inc. (NASDAQ:MGEE) Director James L. Possin bought 300 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The shares were acquired at an average price of $66.35 per share, with a total value of $19,905.00. Following the completion of the transaction, the director now directly owns 600 shares of the company’s stock, valued at approximately $39,810. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

MGE Energy stock opened at $66.03 on Wednesday. The company has a market cap of $2.37 billion, a price-to-earnings ratio of 25.01, a PEG ratio of 5.93 and a beta of 0.44. The firm’s fifty day moving average is $65.89 and its 200 day moving average is $67.46. The company has a quick ratio of 1.57, a current ratio of 1.99 and a debt-to-equity ratio of 0.56. MGE Energy, Inc. has a 52-week low of $47.19 and a 52-week high of $83.26.

MGE Energy (NASDAQ:MGEE) last released its quarterly earnings results on Thursday, August 6th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.05. The company had revenue of $117.04 million for the quarter. MGE Energy had a net margin of 16.88% and a return on equity of 10.44%. On average, equities research analysts anticipate that MGE Energy, Inc. will post 2.52 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a dividend of $0.37 per share. This is an increase from MGE Energy’s previous quarterly dividend of $0.35. The ex-dividend date is Monday, August 31st. This represents a $1.48 dividend on an annualized basis and a yield of 2.24%. MGE Energy’s dividend payout ratio is presently 56.18%.

Several analysts recently issued reports on MGEE shares. BidaskClub lowered shares of MGE Energy from a “hold” rating to a “sell” rating in a research report on Monday, August 17th. Zacks Investment Research lowered shares of MGE Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, August 18th. Finally, Bank of America assumed coverage on shares of MGE Energy in a research report on Tuesday, May 26th. They issued an “underperform” rating and a $57.00 price target for the company.

Institutional investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc raised its stake in MGE Energy by 33.3% during the second quarter. IFP Advisors Inc now owns 1,600 shares of the utilities provider’s stock valued at $103,000 after purchasing an additional 400 shares in the last quarter. Private Advisor Group LLC bought a new position in MGE Energy during the second quarter valued at $155,000. Tower View Investment Management & Research LLC increased its position in MGE Energy by 44.0% during the first quarter. Tower View Investment Management & Research LLC now owns 2,602 shares of the utilities provider’s stock valued at $170,000 after acquiring an additional 795 shares during the last quarter. Baird Financial Group Inc. bought a new position in MGE Energy during the second quarter valued at $278,000. Finally, GSA Capital Partners LLP bought a new position in MGE Energy during the first quarter valued at $264,000. 44.15% of the stock is currently owned by institutional investors.

MGE Energy Company Profile

MGE Energy, Inc, through its subsidiaries, operates as a public utility holding company primarily in Wisconsin. It operates through five segments: Regulated Electric Utility Operations; Regulated Gas Utility Operations; Nonregulated Energy Operations; Transmission Investments; and All Other. The company generates, purchases, and distributes electricity; owns or leases electric generation facilities located in Wisconsin and Iowa; and plans, constructs, operates, maintains, and expands transmission facilities to provide transmission services.

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