Quest Partners LLC Buys New Stake in MGE Energy, Inc. (NASDAQ:MGEE)

Quest Partners LLC bought a new stake in MGE Energy, Inc. (NASDAQ:MGEE) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 7,881 shares of the utilities provider’s stock, valued at approximately $570,000.

Other hedge funds have also recently modified their holdings of the company. Covestor Ltd grew its position in MGE Energy by 31.6% during the 3rd quarter. Covestor Ltd now owns 641 shares of the utilities provider’s stock worth $44,000 after purchasing an additional 154 shares during the last quarter. Quantbot Technologies LP purchased a new position in MGE Energy during the 3rd quarter worth $47,000. Raymond James & Associates purchased a new position in MGE Energy during the 3rd quarter worth $202,000. North Star Asset Management Inc. purchased a new position in MGE Energy during the 4th quarter worth $227,000. Finally, Milestone Investment Advisors LLC purchased a new position in MGE Energy during the 3rd quarter worth $225,000. 52.58% of the stock is owned by hedge funds and other institutional investors.

MGE Energy Stock Down 2.4 %

Shares of NASDAQ:MGEE opened at $80.31 on Thursday. The company has a market cap of $2.91 billion, a price-to-earnings ratio of 24.19 and a beta of 0.72. The firm’s 50-day simple moving average is $78.21 and its 200-day simple moving average is $73.31. The company has a quick ratio of 1.09, a current ratio of 1.59 and a debt-to-equity ratio of 0.62. MGE Energy, Inc. has a fifty-two week low of $61.94 and a fifty-two week high of $83.27.

MGE Energy (NASDAQ:MGEE) last issued its earnings results on Wednesday, February 21st. The utilities provider reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.06). The firm had revenue of $164.65 million during the quarter, compared to analysts’ expectations of $190.55 million. MGE Energy had a net margin of 18.12% and a return on equity of 10.60%. As a group, equities research analysts predict that MGE Energy, Inc. will post 3.69 earnings per share for the current year.

MGE Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 15th. Stockholders of record on Saturday, June 1st will be issued a $0.428 dividend. This represents a $1.71 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Friday, May 31st. MGE Energy’s payout ratio is 51.51%.

Analysts Set New Price Targets

Several research analysts have issued reports on MGEE shares. StockNews.com raised shares of MGE Energy from a “sell” rating to a “hold” rating in a research report on Monday. TheStreet downgraded shares of MGE Energy from a “b” rating to a “c+” rating in a research report on Tuesday, January 30th.

Insider Activity

In related news, Director James G. Berbee acquired 458 shares of MGE Energy stock in a transaction that occurred on Wednesday, March 6th. The stock was purchased at an average price of $82.16 per share, for a total transaction of $37,629.28. Following the completion of the purchase, the director now directly owns 9,725 shares of the company’s stock, valued at $799,006. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.19% of the company’s stock.

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.