Zurcher Kantonalbank Zurich Cantonalbank Purchases 1,048 Shares of MGE Energy, Inc. (NASDAQ:MGEE)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of MGE Energy, Inc. (NASDAQ:MGEE) by 14.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 8,556 shares of the utilities provider’s stock after acquiring an additional 1,048 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in MGE Energy were worth $804,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MGEE. Thrivent Financial for Lutherans raised its holdings in MGE Energy by 2.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 30,849 shares of the utilities provider’s stock valued at $2,821,000 after buying an additional 818 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in MGE Energy by 75.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 8,039 shares of the utilities provider’s stock worth $735,000 after purchasing an additional 3,445 shares in the last quarter. Intech Investment Management LLC bought a new position in MGE Energy in the 3rd quarter worth $424,000. Charles Schwab Investment Management Inc. raised its holdings in MGE Energy by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 425,461 shares of the utilities provider’s stock worth $38,908,000 after purchasing an additional 8,629 shares in the last quarter. Finally, Citigroup Inc. raised its holdings in MGE Energy by 62.4% in the 3rd quarter. Citigroup Inc. now owns 44,040 shares of the utilities provider’s stock worth $4,027,000 after purchasing an additional 16,927 shares in the last quarter. 52.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. LADENBURG THALM/SH SH upgraded shares of MGE Energy to a “strong sell” rating in a report on Monday, March 17th. Morgan Stanley upped their price objective on shares of MGE Energy from $78.00 to $80.00 and gave the stock an “underweight” rating in a report on Thursday.

MGE Energy Stock Down 1.4 %

NASDAQ:MGEE opened at $91.31 on Friday. The firm’s 50-day moving average price is $90.88 and its 200-day moving average price is $93.40. The company has a market capitalization of $3.33 billion, a PE ratio of 27.92 and a beta of 0.72. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.41 and a quick ratio of 0.94. MGE Energy, Inc. has a 1-year low of $72.27 and a 1-year high of $109.22.

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. On average, equities analysts predict that MGE Energy, Inc. will post 3.43 EPS for the current fiscal year.

MGE Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Saturday, March 1st were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend was Friday, February 28th. MGE Energy’s dividend payout ratio (DPR) is 54.05%.

Insider Activity

In related news, Director James G. Berbee acquired 446 shares of MGE Energy stock in a transaction dated Wednesday, March 12th. The shares were purchased at an average price of $90.83 per share, for a total transaction of $40,510.18. Following the completion of the transaction, the director now directly owns 11,532 shares in the company, valued at approximately $1,047,451.56. This represents a 4.02 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.19% of the company’s stock.

About MGE Energy

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.