Tudor Investment Corp ET AL Has $8.21 Million Holdings in MGE Energy Inc. $MGEE

Tudor Investment Corp ET AL lifted its position in shares of MGE Energy Inc. (NASDAQ:MGEE) by 20.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 97,520 shares of the utilities provider’s stock after purchasing an additional 16,786 shares during the quarter. Tudor Investment Corp ET AL’s holdings in MGE Energy were worth $8,209,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Advisory Services Network LLC acquired a new stake in shares of MGE Energy during the third quarter worth $40,000. Steward Partners Investment Advisory LLC increased its position in shares of MGE Energy by 107.3% during the second quarter. Steward Partners Investment Advisory LLC now owns 485 shares of the utilities provider’s stock worth $43,000 after buying an additional 251 shares during the period. Parallel Advisors LLC increased its position in shares of MGE Energy by 28.6% during the third quarter. Parallel Advisors LLC now owns 714 shares of the utilities provider’s stock worth $60,000 after buying an additional 159 shares during the period. Smartleaf Asset Management LLC increased its position in shares of MGE Energy by 19.1% during the second quarter. Smartleaf Asset Management LLC now owns 1,326 shares of the utilities provider’s stock worth $117,000 after buying an additional 213 shares during the period. Finally, iSAM Funds UK Ltd acquired a new stake in shares of MGE Energy during the third quarter worth $119,000. 52.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at MGE Energy

In other MGE Energy news, Director James G. Berbee acquired 373 shares of the company’s stock in a transaction on Wednesday, March 11th. The shares were purchased at an average cost of $77.74 per share, with a total value of $28,997.02. Following the completion of the purchase, the director owned 9,362 shares of the company’s stock, valued at approximately $727,801.88. This represents a 4.15% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

MGEE has been the subject of several recent analyst reports. Morgan Stanley decreased their price objective on shares of MGE Energy from $74.00 to $73.00 and set an “underweight” rating for the company in a research report on Monday, February 2nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of MGE Energy in a research report on Monday, December 29th. Finally, Wall Street Zen upgraded shares of MGE Energy from a “sell” rating to a “hold” rating in a research report on Sunday, March 8th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $78.00.

MGE Energy Stock Down 0.5%

Shares of NASDAQ MGEE opened at $78.41 on Tuesday. The firm has a market cap of $2.87 billion, a PE ratio of 21.08 and a beta of 0.79. MGE Energy Inc. has a 12-month low of $72.17 and a 12-month high of $94.00. The company’s fifty day simple moving average is $78.73 and its 200 day simple moving average is $80.63. The company has a quick ratio of 0.55, a current ratio of 0.77 and a debt-to-equity ratio of 0.61.

MGE Energy (NASDAQ:MGEE) last issued its earnings results on Tuesday, February 24th. The utilities provider reported $0.64 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.64. The business had revenue of $189.55 million for the quarter. MGE Energy had a net margin of 18.27% and a return on equity of 10.60%. As a group, sell-side analysts forecast that MGE Energy Inc. will post 3.43 earnings per share for the current fiscal year.

MGE Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, March 15th. Shareholders of record on Sunday, March 1st were paid a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Friday, February 27th. MGE Energy’s dividend payout ratio (DPR) is 51.08%.

MGE Energy Company Profile

MGE Energy, Inc is a public utility holding company headquartered in Madison, Wisconsin. Through its principal subsidiary, Madison Gas and Electric Company (MGE), the company provides regulated electric and natural gas distribution services to residential, commercial and industrial customers in south-central Wisconsin. MGE Energy’s operations encompass the generation, transmission and distribution of electricity as well as the purchase and distribution of natural gas, with an emphasis on reliable service and system resilience.

Since reorganizing as a holding company in 2001, MGE Energy has expanded its portfolio to include nonregulated subsidiaries involved in renewable energy development, energy services and infrastructure support.