Prudential Financial Inc. Sells 560 Shares of MGE Energy, Inc. (NASDAQ:MGEE)

Prudential Financial Inc. cut its stake in MGE Energy, Inc. (NASDAQ:MGEE) by 1.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,620 shares of the utilities provider’s stock after selling 560 shares during the quarter. Prudential Financial Inc.’s holdings in MGE Energy were worth $3,441,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Hotchkis & Wiley Capital Management LLC bought a new stake in MGE Energy in the 3rd quarter worth approximately $11,765,000. Barclays PLC boosted its stake in shares of MGE Energy by 345.8% in the 3rd quarter. Barclays PLC now owns 62,308 shares of the utilities provider’s stock worth $5,697,000 after buying an additional 48,330 shares during the last quarter. Great Lakes Advisors LLC purchased a new position in shares of MGE Energy in the 4th quarter worth $4,210,000. First Business Financial Services Inc. grew its holdings in shares of MGE Energy by 569.6% in the fourth quarter. First Business Financial Services Inc. now owns 45,584 shares of the utilities provider’s stock worth $4,283,000 after acquiring an additional 38,776 shares during the period. Finally, Citigroup Inc. increased its position in MGE Energy by 62.4% during the third quarter. Citigroup Inc. now owns 44,040 shares of the utilities provider’s stock valued at $4,027,000 after acquiring an additional 16,927 shares during the last quarter. 52.58% of the stock is owned by hedge funds and other institutional investors.

MGE Energy Trading Down 0.0 %

MGE Energy stock opened at $92.92 on Wednesday. MGE Energy, Inc. has a 12-month low of $72.27 and a 12-month high of $109.22. The firm has a market capitalization of $3.39 billion, a price-to-earnings ratio of 28.42 and a beta of 0.72. The firm has a 50 day moving average of $90.81 and a 200 day moving average of $93.71. The company has a current ratio of 1.41, a quick ratio of 0.94 and a debt-to-equity ratio of 0.60.

MGE Energy (NASDAQ:MGEE) last announced its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.61 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.23). MGE Energy had a net margin of 17.70% and a return on equity of 10.18%. The firm had revenue of $171.42 million for the quarter. As a group, research analysts predict that MGE Energy, Inc. will post 3.43 earnings per share for the current year.

MGE Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date was Friday, February 28th. MGE Energy’s dividend payout ratio (DPR) is 54.05%.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on MGEE shares. LADENBURG THALM/SH SH upgraded MGE Energy to a “strong sell” rating in a research note on Monday, March 17th. Morgan Stanley boosted their target price on shares of MGE Energy from $78.00 to $80.00 and gave the company an “underweight” rating in a research report on Thursday, March 20th.

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.