Hennessy Advisors Inc. Acquires 5,900 Shares of MGE Energy Inc. $MGEE

Hennessy Advisors Inc. lifted its holdings in shares of MGE Energy Inc. (NASDAQ:MGEE) by 62.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,279 shares of the utilities provider’s stock after acquiring an additional 5,900 shares during the quarter. Hennessy Advisors Inc.’s holdings in MGE Energy were worth $1,351,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hilltop National Bank bought a new position in shares of MGE Energy during the 2nd quarter worth approximately $41,000. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of MGE Energy by 47.3% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 526 shares of the utilities provider’s stock worth $47,000 after acquiring an additional 169 shares during the period. eCIO Inc. bought a new position in shares of MGE Energy during the 1st quarter worth approximately $53,000. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of MGE Energy during the 1st quarter worth approximately $139,000. Finally, Focus Partners Wealth boosted its stake in shares of MGE Energy by 84.9% during the 1st quarter. Focus Partners Wealth now owns 2,291 shares of the utilities provider’s stock worth $213,000 after acquiring an additional 1,052 shares during the period. 52.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. LADENBURG THALM/SH SH raised MGE Energy from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $69.00 to $83.00 in a report on Thursday, September 11th. Weiss Ratings reissued a “buy (b-)” rating on shares of MGE Energy in a report on Saturday, September 27th. Morgan Stanley dropped their price target on MGE Energy from $76.00 to $75.00 and set an “underweight” rating for the company in a report on Thursday, September 25th. Finally, Wall Street Zen cut MGE Energy from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $79.00.

Insiders Place Their Bets

In other news, Director James G. Berbee acquired 507 shares of MGE Energy stock in a transaction that occurred on Friday, August 15th. The shares were acquired at an average price of $83.83 per share, for a total transaction of $42,501.81. Following the transaction, the director directly owned 6,329 shares of the company’s stock, valued at approximately $530,560.07. The trade was a 8.71% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.19% of the stock is owned by corporate insiders.

MGE Energy Trading Up 1.4%

Shares of MGEE opened at $82.68 on Friday. MGE Energy Inc. has a 52-week low of $81.14 and a 52-week high of $109.22. The business’s fifty day moving average is $84.44 and its 200-day moving average is $87.82. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.20 and a current ratio of 1.80. The firm has a market cap of $3.02 billion, a price-to-earnings ratio of 22.97 and a beta of 0.79.

MGE Energy (NASDAQ:MGEE) last issued its quarterly earnings results on Wednesday, August 6th. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.01). MGE Energy had a net margin of 18.24% and a return on equity of 10.58%. The business had revenue of $159.45 million during the quarter. Equities analysts anticipate that MGE Energy Inc. will post 3.43 EPS for the current fiscal year.

MGE Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 1st were given a dividend of $0.475 per share. The ex-dividend date was Friday, August 29th. This represents a $1.90 dividend on an annualized basis and a yield of 2.3%. This is an increase from MGE Energy’s previous quarterly dividend of $0.45. MGE Energy’s dividend payout ratio is presently 52.78%.

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.