MGE Energy (NASDAQ:MGEE) Director James Berbee Purchases 261 Shares of Stock

MGE Energy Inc. (NASDAQ:MGEE) Director James Berbee acquired 261 shares of the stock in a transaction dated Wednesday, August 19th. The shares were acquired at an average cost of $81.30 per share, with a total value of $21,219.30. Following the completion of the transaction, the director owned 9,738 shares in the company, valued at approximately $791,699.40. This represents a 2.75% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

MGE Energy Price Performance

Shares of NASDAQ MGEE opened at $80.48 on Friday. The stock’s 50-day simple moving average is $80.49 and its 200-day simple moving average is $78.83. The firm has a market capitalization of $3.04 billion, a PE ratio of 19.77 and a beta of 0.71. MGE Energy Inc. has a fifty-two week low of $72.16 and a fifty-two week high of $88.01. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.79 and a current ratio of 1.14.

MGE Energy (NASDAQ:MGEE) last announced its quarterly earnings results on Wednesday, August 5th. The utilities provider reported $0.89 EPS for the quarter, beating the consensus estimate of $0.77 by $0.12. The company had revenue of $161.19 million for the quarter, compared to analyst estimates of $166.37 million. MGE Energy had a net margin of 19.45% and a return on equity of 11.10%. As a group, equities research analysts forecast that MGE Energy Inc. will post 3.99 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Speece Thorson Capital Group Inc. lifted its stake in shares of MGE Energy by 44.3% in the 4th quarter. Speece Thorson Capital Group Inc. now owns 195,596 shares of the utilities provider’s stock valued at $15,339,000 after purchasing an additional 60,037 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of MGE Energy by 369.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 40,409 shares of the utilities provider’s stock valued at $3,169,000 after buying an additional 31,795 shares in the last quarter. Sei Investments Co. grew its position in MGE Energy by 193.5% in the first quarter. Sei Investments Co. now owns 32,857 shares of the utilities provider’s stock valued at $2,540,000 after acquiring an additional 21,663 shares in the last quarter. Merit Financial Group LLC grew its holdings in MGE Energy by 259.3% during the 4th quarter. Merit Financial Group LLC now owns 23,780 shares of the utilities provider’s stock valued at $1,865,000 after purchasing an additional 17,161 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of MGE Energy by 46.0% in the first quarter. Renaissance Technologies LLC now owns 67,600 shares of the utilities provider’s stock worth $5,225,000 after acquiring an additional 21,300 shares in the last quarter. Institutional investors and hedge funds own 52.58% of the company’s stock.

Analyst Upgrades and Downgrades

MGEE has been the subject of a number of research analyst reports. LADENBURG THALM/SH SH raised MGE Energy from a “neutral” rating to a “buy” rating and set a $81.00 target price for the company in a research report on Monday, June 8th. Morgan Stanley reaffirmed an “underweight” rating and set a $76.00 price objective on shares of MGE Energy in a research note on Wednesday, July 22nd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of MGE Energy in a research report on Wednesday, August 5th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, MGE Energy currently has a consensus rating of “Hold” and a consensus price target of $78.50.

MGE Energy Company Profile

MGE Energy, Inc is a public utility holding company headquartered in Madison, Wisconsin. Through its principal subsidiary, Madison Gas and Electric Company (MGE), the company provides regulated electric and natural gas distribution services to residential, commercial and industrial customers in south-central Wisconsin. MGE Energy’s operations encompass the generation, transmission and distribution of electricity as well as the purchase and distribution of natural gas, with an emphasis on reliable service and system resilience.

Since reorganizing as a holding company in 2001, MGE Energy has expanded its portfolio to include nonregulated subsidiaries involved in renewable energy development, energy services and infrastructure support.