FORM Wealth Advisors LLC Purchases New Holdings in MGE Energy Inc. (NASDAQ:MGEE)

FORM Wealth Advisors LLC purchased a new stake in MGE Energy Inc. (NASDAQ:MGEE) during the 1st quarter, Holdings Channel.com reports. The fund purchased 8,683 shares of the utilities provider’s stock, valued at approximately $807,000. MGE Energy comprises 0.1% of FORM Wealth Advisors LLC’s investment portfolio, making the stock its 27th largest holding.

Other institutional investors have also recently added to or reduced their stakes in the company. Sterling Capital Management LLC increased its position in MGE Energy by 656.2% in the 4th quarter. Sterling Capital Management LLC now owns 673 shares of the utilities provider’s stock valued at $63,000 after acquiring an additional 584 shares during the period. Smartleaf Asset Management LLC increased its position in MGE Energy by 507.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,112 shares of the utilities provider’s stock valued at $105,000 after acquiring an additional 929 shares during the period. Focus Partners Wealth acquired a new position in MGE Energy during the 4th quarter worth approximately $116,000. Farther Finance Advisors LLC increased its position in MGE Energy by 7,321.7% during the 4th quarter. Farther Finance Advisors LLC now owns 1,707 shares of the utilities provider’s stock worth $160,000 after purchasing an additional 1,684 shares during the period. Finally, EnRich Financial Partners LLC increased its position in MGE Energy by 8.7% during the 4th quarter. EnRich Financial Partners LLC now owns 1,744 shares of the utilities provider’s stock worth $164,000 after purchasing an additional 139 shares during the period. Institutional investors and hedge funds own 52.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on MGEE shares. Morgan Stanley dropped their target price on MGE Energy from $75.00 to $74.00 and set an “underweight” rating on the stock in a research report on Thursday, May 22nd. LADENBURG THALM/SH SH upgraded MGE Energy to a “strong sell” rating in a research report on Friday, May 9th.

MGE Energy Stock Performance

NASDAQ MGEE opened at $89.48 on Tuesday. The company has a current ratio of 2.07, a quick ratio of 1.49 and a debt-to-equity ratio of 0.61. The business’s 50 day moving average is $90.14 and its two-hundred day moving average is $91.21. MGE Energy Inc. has a 12-month low of $72.27 and a 12-month high of $109.22. The stock has a market capitalization of $3.27 billion, a price-to-earnings ratio of 25.28 and a beta of 0.78.

MGE Energy (NASDAQ:MGEE) last released its earnings results on Wednesday, May 7th. The utilities provider reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.16. The company had revenue of $218.97 million for the quarter, compared to analysts’ expectations of $202.42 million. MGE Energy had a return on equity of 10.58% and a net margin of 18.22%. Research analysts expect that MGE Energy Inc. will post 3.43 EPS for the current year.

MGE Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend was Friday, May 30th. MGE Energy’s dividend payout ratio (DPR) is 50.85%.

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.