Thrivent Financial for Lutherans Lowers Stock Position in MGE Energy, Inc. (NASDAQ:MGEE)

Thrivent Financial for Lutherans cut its holdings in MGE Energy, Inc. (NASDAQ:MGEE) by 1.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 30,439 shares of the utilities provider’s stock after selling 410 shares during the quarter. Thrivent Financial for Lutherans’ holdings in MGE Energy were worth $2,860,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Hotchkis & Wiley Capital Management LLC bought a new stake in MGE Energy during the third quarter worth about $11,765,000. Barclays PLC raised its position in shares of MGE Energy by 345.8% in the 3rd quarter. Barclays PLC now owns 62,308 shares of the utilities provider’s stock worth $5,697,000 after purchasing an additional 48,330 shares during the last quarter. Great Lakes Advisors LLC bought a new position in MGE Energy in the 4th quarter worth about $4,210,000. First Business Financial Services Inc. grew its position in 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 valued at $4,283,000 after purchasing an additional 38,776 shares during the last quarter. Finally, Citigroup Inc. increased its stake in MGE Energy by 62.4% during the 3rd quarter. Citigroup Inc. now owns 44,040 shares of the utilities provider’s stock valued at $4,027,000 after purchasing an additional 16,927 shares in the last quarter. 52.58% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other MGE Energy news, Director James G. Berbee acquired 446 shares of the stock in a transaction dated Wednesday, March 12th. The shares were purchased 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 of the company’s stock, valued at approximately $1,047,451.56. This trade represents a 4.02 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. LADENBURG THALM/SH SH upgraded shares of MGE Energy to a “strong sell” rating in a report on Monday, March 17th. Morgan Stanley lifted their target price on MGE Energy from $78.00 to $80.00 and gave the stock an “underweight” rating in a report on Thursday, March 20th.

MGE Energy Stock Performance

Shares of NASDAQ MGEE opened at $91.00 on Thursday. The firm’s 50-day moving average price is $90.90 and its 200-day moving average price is $93.54. MGE Energy, Inc. has a 52-week low of $72.27 and a 52-week high of $109.22. The company has a market cap of $3.32 billion, a PE ratio of 27.83 and a beta of 0.72. The company has a quick ratio of 0.94, a current ratio of 1.41 and a debt-to-equity ratio of 0.60.

MGE Energy (NASDAQ:MGEE) last posted its earnings results 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 during the quarter. MGE Energy had a return on equity of 10.18% and a net margin of 17.70%. As a group, analysts anticipate that MGE Energy, Inc. will post 3.43 EPS for the current year.

MGE Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date was Friday, February 28th. MGE Energy’s dividend payout ratio is 54.05%.

MGE Energy Company 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.