MGE Energy Inc. (NASDAQ:MGEE) Shares Sold by Kerntke Otto McGlone Wealth Management Group

Kerntke Otto McGlone Wealth Management Group lowered its stake in shares of MGE Energy Inc. (NASDAQ:MGEE) by 10.2% during the 1st quarter, HoldingsChannel.com reports. The fund owned 2,707 shares of the utilities provider’s stock after selling 306 shares during the quarter. Kerntke Otto McGlone Wealth Management Group’s holdings in MGE Energy were worth $252,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sterling Capital Management LLC boosted its position in MGE Energy by 656.2% in the fourth quarter. Sterling Capital Management LLC now owns 673 shares of the utilities provider’s stock valued at $63,000 after buying an additional 584 shares during the last quarter. Focus Partners Wealth acquired a new stake in MGE Energy during the 4th quarter valued at approximately $116,000. Farther Finance Advisors LLC boosted its holdings 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 acquiring an additional 1,684 shares during the last quarter. EnRich Financial Partners LLC increased its stake in shares of MGE Energy by 8.7% in the fourth quarter. EnRich Financial Partners LLC now owns 1,744 shares of the utilities provider’s stock worth $164,000 after acquiring an additional 139 shares during the period. Finally, Michael A. Dubis Financial Planning LLC acquired a new stake in shares of MGE Energy in the fourth quarter worth $200,000. 52.58% of the stock is owned by hedge funds and other institutional investors.

MGE Energy Trading Down 2.1%

MGE Energy stock opened at $86.25 on Friday. The firm has a market cap of $3.15 billion, a PE ratio of 24.36 and a beta of 0.76. MGE Energy Inc. has a 12 month low of $79.38 and a 12 month high of $109.22. The stock’s 50 day simple moving average is $89.64 and its two-hundred day simple moving average is $90.49. The company has a current ratio of 2.07, a quick ratio of 1.49 and a debt-to-equity ratio of 0.61.

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

MGE Energy Announces Dividend

The company also recently announced 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 2.09%. The ex-dividend date was Friday, May 30th. MGE Energy’s payout ratio is currently 50.85%.

Analyst Ratings Changes

A number of research firms recently issued reports on MGEE. LADENBURG THALM/SH SH upgraded shares of MGE Energy to a “strong sell” rating in a research report on Friday, May 9th. Morgan Stanley decreased their price objective on MGE Energy from $75.00 to $74.00 and set an “underweight” rating for the company in a report on Thursday, May 22nd.

About MGE Energy

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.