14,624 Shares in MGE Energy Inc. $MGEE Bought by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC acquired 14,624 shares of MGE Energy in the second quarter, valued at approximately $1.19 million. Institutional investors collectively own 52.58% of the utility company.
• MGE Energy reported quarterly EPS of $0.89, exceeding analyst expectations of $0.77, though revenue of $161.19 million fell short of the $166.37 million consensus estimate.
• The company increased its quarterly dividend to $0.5083 per share, equivalent to an annualized $2.03 payout and a 2.6% yield. Analysts maintain a consensus “Hold” rating with an average price target of $77.50.

Hsbc Holdings PLC bought a new stake in shares of MGE Energy Inc. (NASDAQ:MGEE - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 14,624 shares of the utilities provider's stock, valued at approximately $1,194,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Hantz Financial Services Inc. lifted its stake in MGE Energy by 63.8% in the 4th quarter. Hantz Financial Services Inc. now owns 416 shares of the utilities provider's stock worth $33,000 after purchasing an additional 162 shares in the last quarter. Advisory Services Network LLC bought a new stake in shares of MGE Energy in the third quarter worth about $40,000. Avalon Trust Co purchased a new stake in shares of MGE Energy in the second quarter worth about $49,000. Parallel Advisors LLC lifted its position in shares of MGE Energy by 28.6% in 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 in the last quarter. Finally, Versant Capital Management Inc boosted its stake in MGE Energy by 60.3% during the second quarter. Versant Capital Management Inc now owns 744 shares of the utilities provider's stock valued at $61,000 after buying an additional 280 shares during the last quarter. 52.58% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on MGEE shares. Morgan Stanley reduced their price objective on MGE Energy from $76.00 to $74.00 and set an "underweight" rating on the stock in a research note on Friday, August 21st. Weiss Ratings restated a "hold (c)" rating on shares of MGE Energy in a research report on Wednesday, August 5th. Finally, LADENBURG THALM/SH SH raised shares of MGE Energy from a "neutral" rating to a "buy" rating and set a $81.00 price target on the stock in a research note on Monday, June 8th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $77.50.

MGE Energy Trading Down 0.6%

MGEE stock opened at $77.69 on Tuesday. MGE Energy Inc. has a twelve month low of $72.16 and a twelve month high of $87.94. The stock has a market capitalization of $2.94 billion, a price-to-earnings ratio of 19.09 and a beta of 0.71. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.61. The firm's fifty day simple moving average is $80.81 and its two-hundred day simple moving average is $78.78.

MGE Energy (NASDAQ:MGEE - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The utilities provider reported $0.89 EPS for the quarter, topping analysts' consensus estimates of $0.77 by $0.12. The firm had revenue of $161.19 million during the quarter, compared to analysts' expectations of $166.37 million. MGE Energy had a net margin of 19.45% and a return on equity of 11.10%. As a group, analysts anticipate that MGE Energy Inc. will post 3.99 earnings per share for the current year.

MGE Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.5083 per share. This represents a $2.03 annualized dividend and a dividend yield of 2.6%. This is a boost from MGE Energy's previous quarterly dividend of $0.47. The ex-dividend date is Tuesday, September 1st. MGE Energy's dividend payout ratio (DPR) is presently 46.68%.

MGE Energy 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.

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