Charles Schwab Investment Management Inc. Sells 5,549 Shares of MGE Energy Inc. $MGEE

Charles Schwab Investment Management Inc. reduced its holdings in MGE Energy Inc. (NASDAQ:MGEE - Free Report) by 1.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 427,328 shares of the utilities provider's stock after selling 5,549 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.17% of MGE Energy worth $39,724,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in MGEE. Creative Financial Designs Inc. ADV grew its stake in MGE Energy by 1.8% in the first quarter. Creative Financial Designs Inc. ADV now owns 7,215 shares of the utilities provider's stock valued at $671,000 after acquiring an additional 126 shares during the period. Xponance Inc. grew its stake in MGE Energy by 5.1% in the first quarter. Xponance Inc. now owns 2,725 shares of the utilities provider's stock valued at $253,000 after acquiring an additional 131 shares during the period. Summit Investment Advisors Inc. grew its stake in MGE Energy by 4.7% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,814 shares of the utilities provider's stock valued at $358,000 after acquiring an additional 172 shares during the period. GAMMA Investing LLC grew its stake in MGE Energy by 5.4% in the first quarter. GAMMA Investing LLC now owns 4,908 shares of the utilities provider's stock valued at $456,000 after acquiring an additional 251 shares during the period. Finally, Nisa Investment Advisors LLC grew its stake in MGE Energy by 12.5% in the first quarter. Nisa Investment Advisors LLC now owns 2,508 shares of the utilities provider's stock valued at $233,000 after acquiring an additional 279 shares during the period. 52.58% of the stock is currently owned by institutional investors.

MGE Energy Stock Performance

MGEE stock traded up $1.4950 during midday trading on Friday, hitting $86.4150. The company's stock had a trading volume of 13,265 shares, compared to its average volume of 146,685. The stock has a market cap of $3.16 billion, a price-to-earnings ratio of 24.00 and a beta of 0.76. The stock's 50-day moving average price is $86.63 and its 200 day moving average price is $89.28. The company has a quick ratio of 1.20, a current ratio of 1.80 and a debt-to-equity ratio of 0.60. MGE Energy Inc. has a 1 year low of $82.21 and a 1 year high of $109.22.

MGE Energy (NASDAQ:MGEE - Get Free Report) last issued its earnings results 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). The firm had revenue of $159.45 million during the quarter. MGE Energy had a net margin of 18.24% and a return on equity of 10.58%. On average, equities analysts forecast that MGE Energy Inc. will post 3.43 EPS for the current year.

MGE Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 1st will be paid a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Friday, August 29th. This is a positive change from MGE Energy's previous quarterly dividend of $0.45. MGE Energy's dividend payout ratio is presently 50.00%.

Insider Activity

In related news, Director James G. Berbee acquired 507 shares of the firm's stock in a transaction that occurred on Friday, August 15th. The shares were bought at an average cost of $83.83 per share, for a total transaction of $42,501.81. Following the purchase, the director owned 6,329 shares in the company, valued at $530,560.07. This trade represents a 8.71% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on MGEE shares. LADENBURG THALM/SH SH raised MGE Energy to a "strong sell" rating in a research note on Friday, May 9th. Morgan Stanley cut their price objective on MGE Energy from $75.00 to $74.00 and set an "underweight" rating on the stock in a research report on Thursday, May 22nd. Finally, Wall Street Zen cut MGE Energy from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Two equities research analysts have rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has a consensus rating of "Sell" and a consensus target price of $74.00.

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.