MGE Energy Inc. $MGEE Shares Acquired by AlphaQuest LLC

Key Points

• AlphaQuest LLC has increased its holdings in MGE Energy Inc. by 90.0%, now owning 15,696 shares worth approximately $1,459,000.
• MGE Energy has announced a planned quarterly dividend increase from $0.45 to $0.475 per share, reflecting a 2.2% yield.
• Recent analyst ratings for MGE Energy show a mixed outlook, with the average rating at "Sell" and a target price of $74.00.

AlphaQuest LLC grew its stake in MGE Energy Inc. (NASDAQ:MGEE - Free Report) by 90.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 15,696 shares of the utilities provider's stock after buying an additional 7,435 shares during the quarter. AlphaQuest LLC's holdings in MGE Energy were worth $1,459,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Dimensional Fund Advisors LP raised its position in shares of MGE Energy by 0.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 769,612 shares of the utilities provider's stock worth $72,314,000 after acquiring an additional 2,225 shares in the last quarter. GAMMA Investing LLC raised its position in shares of MGE Energy by 9,697.0% during the 1st quarter. GAMMA Investing LLC now owns 456,248 shares of the utilities provider's stock worth $42,413,000 after acquiring an additional 451,591 shares in the last quarter. Northern Trust Corp raised its position in shares of MGE Energy by 0.3% during the 1st quarter. Northern Trust Corp now owns 394,414 shares of the utilities provider's stock worth $36,665,000 after acquiring an additional 1,287 shares in the last quarter. Nuveen LLC acquired a new stake in shares of MGE Energy during the 1st quarter worth about $20,910,000. Finally, Invesco Ltd. raised its position in shares of MGE Energy by 49.4% during the 1st quarter. Invesco Ltd. now owns 208,936 shares of the utilities provider's stock worth $19,423,000 after acquiring an additional 69,084 shares in the last quarter. Institutional investors and hedge funds own 52.58% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Morgan Stanley reissued an "underweight" rating on shares of MGE Energy in a research report on Thursday, August 21st. LADENBURG THALM/SH SH raised MGE Energy to a "strong sell" rating in a research report on Friday, May 9th. Finally, Wall Street Zen lowered MGE Energy from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Two investment analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, MGE Energy presently has a consensus rating of "Sell" and an average target price of $74.00.

Insider Buying and Selling

In other news, Director James G. Berbee purchased 507 shares of the company's stock in a transaction on Friday, August 15th. The stock was bought at an average cost of $83.83 per share, for a total transaction of $42,501.81. Following the completion of the purchase, the director directly owned 6,329 shares of the company's stock, valued at $530,560.07. The trade was a 8.71% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.19% of the stock is owned by corporate insiders.

MGE Energy Price Performance

MGEE traded down $0.98 during trading on Thursday, reaching $86.51. 18,333 shares of the stock were exchanged, compared to its average volume of 147,175. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.80 and a quick ratio of 1.20. MGE Energy Inc. has a 1 year low of $82.21 and a 1 year high of $109.22. The business's 50 day moving average price is $86.54 and its two-hundred day moving average price is $89.20. The company has a market capitalization of $3.16 billion, a price-to-earnings ratio of 24.07 and a beta of 0.76.

MGE Energy (NASDAQ:MGEE - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.01). MGE Energy had a net margin of 18.24% and a return on equity of 10.58%. The company had revenue of $159.45 million during the quarter. As a group, equities research analysts anticipate that MGE Energy Inc. will post 3.43 earnings per share for the current year.

MGE Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 1st will be paid a dividend of $0.475 per share. This is a boost from MGE Energy's previous quarterly dividend of $0.45. This represents a $1.90 annualized dividend and a yield of 2.2%. The ex-dividend date is Friday, August 29th. MGE Energy's payout ratio is currently 50.00%.

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.