Royce & Associates LP Has $1.53 Million Stock Position in MGE Energy, Inc. (NASDAQ:MGEE)

Royce & Associates LP boosted its holdings in MGE Energy, Inc. (NASDAQ:MGEE) by 39.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,281 shares of the utilities provider’s stock after buying an additional 4,613 shares during the period. Royce & Associates LP’s holdings in MGE Energy were worth $1,530,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of MGEE. State Street Corp raised its position in shares of MGE Energy by 0.5% during the third quarter. State Street Corp now owns 1,460,360 shares of the utilities provider’s stock valued at $133,550,000 after buying an additional 7,294 shares during the last quarter. Geode Capital Management LLC raised its holdings in MGE Energy by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 863,707 shares of the utilities provider’s stock valued at $79,001,000 after acquiring an additional 5,796 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of MGE Energy by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 432,877 shares of the utilities provider’s stock worth $40,673,000 after acquiring an additional 7,416 shares during the period. Principal Financial Group Inc. lifted its position in shares of MGE Energy by 4.1% in the 4th quarter. Principal Financial Group Inc. now owns 191,447 shares of the utilities provider’s stock worth $17,988,000 after acquiring an additional 7,554 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of MGE Energy during the 3rd quarter worth approximately $11,765,000. 52.58% of the stock is owned by institutional investors.

Insider Buying and Selling at MGE Energy

In other MGE Energy news, Director James G. Berbee purchased 446 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average cost of $90.83 per share, with a total value of $40,510.18. Following the acquisition, the director now directly owns 11,532 shares of the company’s stock, valued at approximately $1,047,451.56. This trade represents a 4.02 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

MGEE has been the subject of a number of recent research reports. Morgan Stanley upped their target price on MGE Energy from $78.00 to $80.00 and gave the company an “underweight” rating in a research note on Thursday. LADENBURG THALM/SH SH raised shares of MGE Energy to a “strong sell” rating in a report on Monday.

MGE Energy Trading Up 0.1 %

MGEE stock opened at $92.56 on Friday. MGE Energy, Inc. has a 1-year low of $72.27 and a 1-year high of $109.22. The company has a current ratio of 1.41, a quick ratio of 0.94 and a debt-to-equity ratio of 0.60. The business’s 50 day moving average is $90.82 and its 200-day moving average is $93.36. The firm has a market cap of $3.38 billion, a P/E ratio of 28.31 and a beta of 0.72.

MGE Energy (NASDAQ:MGEE) last announced its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.23). The company had revenue of $171.42 million during the quarter. MGE Energy had a net margin of 17.70% and a return on equity of 10.18%. Equities analysts anticipate that MGE Energy, Inc. will post 3.43 earnings per share for the current fiscal year.

MGE Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Saturday, March 1st were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend was Friday, February 28th. MGE Energy’s dividend payout ratio is currently 54.05%.

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.