Raymond James Financial Inc. Purchases Shares of 8,308 MGE Energy, Inc. (NASDAQ:MGEE)

Raymond James Financial Inc. acquired a new position in shares of MGE Energy, Inc. (NASDAQ:MGEE) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 8,308 shares of the utilities provider’s stock, valued at approximately $781,000.

Several other hedge funds also recently modified their holdings of MGEE. Barclays PLC raised its holdings in MGE Energy by 345.8% during the third quarter. Barclays PLC now owns 62,308 shares of the utilities provider’s stock worth $5,697,000 after acquiring an additional 48,330 shares in the last quarter. First Business Financial Services Inc. increased its position in shares of MGE Energy by 569.6% during the 4th quarter. First Business Financial Services Inc. now owns 45,584 shares of the utilities provider’s stock worth $4,283,000 after purchasing an additional 38,776 shares during the last quarter. Park Capital Management LLC WI bought a new stake in shares of MGE Energy during the 4th quarter worth approximately $1,259,000. JPMorgan Chase & Co. raised its stake in shares of MGE Energy by 16.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 59,585 shares of the utilities provider’s stock worth $5,449,000 after purchasing an additional 8,233 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of 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 buying an additional 7,554 shares during the last quarter. Institutional investors own 52.58% of the company’s stock.

Analyst Ratings Changes

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

Insider Buying and Selling at MGE Energy

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

MGE Energy Stock Performance

Shares of NASDAQ MGEE opened at $89.01 on Friday. The company has a current ratio of 1.41, a quick ratio of 0.94 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $3.25 billion, a P/E ratio of 27.22 and a beta of 0.72. MGE Energy, Inc. has a 12 month low of $72.27 and a 12 month high of $109.22. The stock has a 50 day moving average of $91.08 and a 200-day moving average of $93.69.

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

MGE Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Saturday, March 1st were paid a $0.45 dividend. The ex-dividend date was Friday, February 28th. This represents a $1.80 dividend on an annualized basis and a yield of 2.02%. MGE Energy’s dividend payout ratio (DPR) is currently 54.05%.

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.