SVA Plumb Wealth Management LLC lifted its holdings in shares of MGE Energy, Inc. (NASDAQ:MGEE) by 7.4% during the 1st quarter, HoldingsChannel reports. The firm owned 12,506 shares of the utilities provider’s stock after purchasing an additional 867 shares during the quarter. SVA Plumb Wealth Management LLC’s holdings in MGE Energy were worth $850,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Victory Capital Management Inc. raised its stake in MGE Energy by 0.7% during the 4th quarter. Victory Capital Management Inc. now owns 669,406 shares of the utilities provider’s stock worth $40,138,000 after buying an additional 4,698 shares during the period. Thompson Investment Management Inc. raised its stake in MGE Energy by 7.5% during the 4th quarter. Thompson Investment Management Inc. now owns 6,661 shares of the utilities provider’s stock worth $399,000 after buying an additional 465 shares during the period. Millennium Management LLC acquired a new position in MGE Energy during the 4th quarter worth approximately $1,989,000. Royal London Asset Management Ltd. raised its stake in MGE Energy by 303.4% during the 4th quarter. Royal London Asset Management Ltd. now owns 113,094 shares of the utilities provider’s stock worth $6,782,000 after buying an additional 85,059 shares during the period. Finally, Teachers Advisors LLC raised its stake in MGE Energy by 6.4% during the 3rd quarter. Teachers Advisors LLC now owns 70,966 shares of the utilities provider’s stock worth $4,531,000 after buying an additional 4,288 shares during the period. Institutional investors own 41.39% of the company’s stock.
Separately, BidaskClub downgraded MGE Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, January 16th.
In other news, Chairman Jeffrey M. Keebler purchased 525 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were acquired at an average cost of $66.62 per share, with a total value of $34,975.50. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.19% of the stock is currently owned by corporate insiders.
MGEE stock opened at $69.54 on Thursday. MGE Energy, Inc. has a fifty-two week low of $55.30 and a fifty-two week high of $69.62. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.68 and a current ratio of 1.97. The company has a market cap of $2.40 billion, a P/E ratio of 27.27 and a beta of 0.38.
MGE Energy (NASDAQ:MGEE) last posted its quarterly earnings results on Wednesday, May 8th. The utilities provider reported $0.69 earnings per share for the quarter. MGE Energy had a return on equity of 10.85% and a net margin of 15.49%. The business had revenue of $167.57 million for the quarter.
The company also recently declared a quarterly dividend, which will be paid on Saturday, June 15th. Investors of record on Saturday, June 1st will be paid a dividend of $0.3375 per share. This represents a $1.35 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend is Thursday, May 30th.
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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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