Farther Finance Advisors LLC Grows Stock Holdings in MGE Energy, Inc. (NASDAQ:MGEE)

Farther Finance Advisors LLC boosted its holdings in MGE Energy, Inc. (NASDAQ:MGEE) by 7,321.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,707 shares of the utilities provider’s stock after buying an additional 1,684 shares during the period. Farther Finance Advisors LLC’s holdings in MGE Energy were worth $160,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. State Street Corp grew its stake in MGE Energy by 0.5% in the 3rd 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 in the last quarter. Geode Capital Management LLC boosted 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 purchasing an additional 5,796 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in 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 valued at $40,673,000 after purchasing an additional 7,416 shares during the period. Principal Financial Group Inc. boosted its holdings in MGE Energy by 4.1% in the 4th quarter. Principal Financial Group Inc. now owns 191,447 shares of the utilities provider’s stock valued at $17,988,000 after purchasing an additional 7,554 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC bought a new position in MGE Energy in the 3rd quarter valued at $11,765,000. 52.58% of the stock is currently owned by hedge funds and other institutional investors.

MGE Energy Stock Performance

NASDAQ MGEE opened at $92.56 on Friday. MGE Energy, Inc. has a 52-week low of $72.27 and a 52-week high of $109.22. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.94 and a current ratio of 1.41. The company has a market capitalization of $3.38 billion, a P/E ratio of 28.31 and a beta of 0.72. The company has a fifty day moving average of $90.82 and a 200-day moving average of $93.36.

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

MGE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st were issued a dividend of $0.45 per share. 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 is currently 54.05%.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other MGE Energy news, Director James G. Berbee purchased 446 shares of the stock in a transaction on Wednesday, March 12th. The stock was acquired at an average cost of $90.83 per share, with a total value of $40,510.18. Following the completion of the purchase, 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 document filed with the SEC, which is available at this hyperlink. 0.19% of the stock is currently owned by insiders.

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.