Avantax Advisory Services Inc. Has $789,000 Position in MGE Energy, Inc. (NASDAQ:MGEE)

Avantax Advisory Services Inc. reduced its stake in shares of MGE Energy, Inc. (NASDAQ:MGEE) by 14.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 8,393 shares of the utilities provider’s stock after selling 1,413 shares during the quarter. Avantax Advisory Services Inc.’s holdings in MGE Energy were worth $789,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Great Lakes Advisors LLC acquired a new position in shares of MGE Energy in the 4th quarter valued at approximately $4,210,000. Farther Finance Advisors LLC grew its position in shares of MGE Energy by 7,321.7% in the 4th quarter. Farther Finance Advisors LLC now owns 1,707 shares of the utilities provider’s stock valued at $160,000 after purchasing an additional 1,684 shares during the period. HighTower Advisors LLC grew its position in shares of MGE Energy by 3.4% in the 4th quarter. HighTower Advisors LLC now owns 7,266 shares of the utilities provider’s stock valued at $683,000 after purchasing an additional 236 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of MGE Energy by 14.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,556 shares of the utilities provider’s stock valued at $804,000 after purchasing an additional 1,048 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of MGE Energy in the 4th quarter valued at approximately $781,000. 52.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at MGE Energy

In related news, Director James G. Berbee acquired 446 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were bought at an average price of $90.83 per share, for a total transaction of $40,510.18. Following the purchase, the director now directly owns 11,532 shares in the company, valued at approximately $1,047,451.56. This trade represents a 4.02 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MGEE. LADENBURG THALM/SH SH upgraded MGE Energy to a “strong sell” rating in a research report on Monday. Morgan Stanley boosted their price objective on MGE Energy from $78.00 to $80.00 and gave the company an “underweight” rating in a research report on Thursday.

MGE Energy Trading Up 0.1 %

NASDAQ MGEE opened at $92.56 on Friday. The stock has a market capitalization of $3.38 billion, a price-to-earnings ratio of 28.31 and a beta of 0.72. The stock’s 50 day moving average price is $90.82 and its two-hundred day moving average price is $93.36. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.94 and a current ratio of 1.41. MGE Energy, Inc. has a 52 week low of $72.27 and a 52 week high of $109.22.

MGE Energy (NASDAQ:MGEE) last released its earnings results 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 during the quarter. As a group, analysts anticipate that MGE Energy, Inc. will post 3.43 earnings per share for the current fiscal year.

MGE Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date was Friday, February 28th. MGE Energy’s dividend payout ratio is currently 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.