Bullish indicating open at $55-$60, IPO prices at $37
James G. Berbee, a director at MGE Energy Inc . (NASDAQ:MGEE), recently acquired additional shares of the company’s common stock. According to a filing with the Securities and Exchange Commission, Berbee purchased 445.5381 shares at a price of $90.8348 per share, totaling approximately $40,470. The $3.36 billion market cap utility company has maintained an impressive track record of dividend payments, with InvestingPro data showing 32 consecutive years of dividend increases and a current yield of 1.98%.
Following this transaction, Berbee’s direct ownership in MGE Energy stands at 11,531.8811 shares. This acquisition was part of a dividend reinvestment plan, as noted in the filing. The transaction took place on March 12, 2025, and was documented in a Form 4 filing submitted on March 13, 2025. According to InvestingPro analysis, the stock currently trades above its Fair Value, with a P/E ratio of 27.64. Subscribers can access 6 additional ProTips and comprehensive financial metrics to make more informed investment decisions.
In other recent news, MGE Energy, Inc. and its subsidiary Madison Gas and Electric Company announced the planned retirement of Lynn Hobbie, the Executive Vice President of Marketing and Communications. The announcement was officially made in a filing with the Securities and Exchange Commission. Hobbie is set to retire by the end of 2025, marking a significant transition in the company’s leadership. The SEC filing did not disclose reasons for her departure or details about her successor. While the filing did not indicate any immediate financial impact from this announcement, the full implications for the company’s marketing and communications strategy remain to be seen. This change comes at a time when the energy sector is undergoing rapid transformation. Investors and stakeholders are advised to keep an eye on the company’s future SEC filings for further updates on leadership transitions. The information regarding Hobbie’s retirement was based on an official press release by MGE Energy and Madison Gas and Electric Company.
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