Metropolitan Life Insurance Co. NY cut its holdings in shares of MGE Energy (NASDAQ:MGEE) by 54.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,990 shares of the utilities provider’s stock after selling 12,885 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in MGE Energy were worth $693,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in MGEE. Teachers Advisors LLC increased its stake in MGE Energy by 2.6% in the fourth quarter. Teachers Advisors LLC now owns 64,099 shares of the utilities provider’s stock valued at $4,045,000 after acquiring an additional 1,635 shares during the last quarter. American International Group Inc. increased its stake in MGE Energy by 8.1% in the third quarter. American International Group Inc. now owns 23,441 shares of the utilities provider’s stock valued at $1,514,000 after acquiring an additional 1,753 shares during the last quarter. US Bancorp DE increased its stake in MGE Energy by 7.4% in the fourth quarter. US Bancorp DE now owns 37,758 shares of the utilities provider’s stock valued at $2,382,000 after acquiring an additional 2,610 shares during the last quarter. California Public Employees Retirement System increased its stake in MGE Energy by 5.1% in the third quarter. California Public Employees Retirement System now owns 54,761 shares of the utilities provider’s stock valued at $3,538,000 after acquiring an additional 2,661 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in MGE Energy by 11.8% in the third quarter. Legal & General Group Plc now owns 35,406 shares of the utilities provider’s stock valued at $2,291,000 after acquiring an additional 3,741 shares during the last quarter. 39.12% of the stock is currently owned by institutional investors.
Separately, BidaskClub cut shares of MGE Energy from a “sell” rating to a “strong sell” rating in a research note on Thursday, December 21st.
In related news, insider Jeffrey M. Keebler bought 627 shares of the firm’s stock in a transaction on Tuesday, March 13th. The shares were purchased at an average price of $55.73 per share, with a total value of $34,942.71. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James G. Berbee bought 449 shares of the firm’s stock in a transaction on Tuesday, March 13th. The shares were bought at an average cost of $55.73 per share, for a total transaction of $25,022.77. Following the purchase, the director now owns 449 shares of the company’s stock, valued at approximately $25,022.77. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 1,260 shares of company stock worth $69,955. Insiders own 0.20% of the company’s stock.
Shares of NASDAQ:MGEE opened at $56.30 on Monday. The company has a market capitalization of $1,951.81, a P/E ratio of 25.25 and a beta of 0.30. The company has a current ratio of 2.30, a quick ratio of 1.95 and a debt-to-equity ratio of 0.51. MGE Energy has a 1 year low of $51.05 and a 1 year high of $68.70.
MGE Energy (NASDAQ:MGEE) last posted its earnings results on Friday, February 23rd. The utilities provider reported $0.45 earnings per share for the quarter. The firm had revenue of $140.27 million for the quarter. MGE Energy had a net margin of 17.33% and a return on equity of 10.28%. equities analysts predict that MGE Energy will post 2.3 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st were paid a dividend of $0.322 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 2.29%. MGE Energy’s payout ratio is presently 57.85%.
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MGE Energy Company Profile
MGE Energy, Inc, through its subsidiaries, operates as a public utility holding company primarily in Wisconsin. It operates through five segments: Regulated Electric Utility Operations; Regulated Gas Utility Operations; Nonregulated Energy Operations; Transmission Investments; and All Other. The company generates, purchases, and distributes electricity; owns or leases electric generation facilities located in Wisconsin and Iowa; and plans, constructs, operates, maintains, and expands transmission facilities to provide transmission services.
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