1ST Source Bank Makes New $493,000 Investment in MGE Energy, Inc. (NASDAQ:MGEE)

1ST Source Bank bought a new position in shares of MGE Energy, Inc. (NASDAQ:MGEE) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 5,248 shares of the utilities provider’s stock, valued at approximately $493,000.

Other institutional investors have also recently bought and sold shares of the company. Versant Capital Management Inc raised its stake in MGE Energy by 367.1% during the fourth quarter. Versant Capital Management Inc now owns 327 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 257 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its stake in MGE Energy by 88.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 357 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 168 shares in the last quarter. Assetmark Inc. acquired a new position in shares of MGE Energy in the third quarter valued at approximately $35,000. Smartleaf Asset Management LLC increased its stake in shares of MGE Energy by 507.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,112 shares of the utilities provider’s stock valued at $105,000 after buying an additional 929 shares during the period. Finally, KBC Group NV increased its stake in shares of MGE Energy by 32.2% in the fourth quarter. KBC Group NV now owns 1,478 shares of the utilities provider’s stock valued at $139,000 after buying an additional 360 shares during the period. Institutional investors and hedge funds own 52.58% of the company’s stock.

Analysts Set New Price Targets

Separately, LADENBURG THALM/SH SH raised MGE Energy to a “strong sell” rating in a research note on Thursday, December 12th.

Insider Activity at MGE Energy

In related news, Director James G. Berbee bought 446 shares of MGE Energy stock in a transaction that occurred on Wednesday, March 12th. The shares were acquired at an average cost 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 of the company’s stock, valued at approximately $1,047,451.56. The trade was a 4.02 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 0.19% of the stock is currently owned by company insiders.

MGE Energy Stock Performance

MGE Energy stock opened at $93.04 on Tuesday. The business has a 50 day moving average of $90.73 and a 200-day moving average of $93.33. MGE Energy, Inc. has a 1 year low of $72.27 and a 1 year high of $109.22. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.41 and a quick ratio of 0.94. The company has a market capitalization of $3.40 billion, a P/E ratio of 28.45 and a beta of 0.72.

MGE Energy (NASDAQ:MGEE) last released its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.61 earnings per share (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 during the quarter. On average, equities research analysts predict that MGE Energy, Inc. will post 3.43 earnings per share for the current year.

MGE Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Saturday, March 1st were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend was Friday, February 28th. MGE Energy’s payout ratio is presently 54.05%.

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.