Exchange Traded Concepts LLC reduced its stake in MGE Energy Inc. (NASDAQ:MGEE - Free Report) by 56.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,910 shares of the utilities provider's stock after selling 11,561 shares during the quarter. Exchange Traded Concepts LLC's holdings in MGE Energy were worth $828,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Sterling Capital Management LLC grew its holdings in MGE Energy by 656.2% in the 4th quarter. Sterling Capital Management LLC now owns 673 shares of the utilities provider's stock valued at $63,000 after buying an additional 584 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in MGE Energy by 507.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,112 shares of the utilities provider's stock valued at $105,000 after buying an additional 929 shares in the last quarter. Focus Partners Wealth purchased a new stake in MGE Energy in the 4th quarter valued at $116,000. Farther Finance Advisors LLC grew its holdings in MGE Energy by 7,321.7% in the 4th quarter. Farther Finance Advisors LLC now owns 1,707 shares of the utilities provider's stock valued at $160,000 after buying an additional 1,684 shares in the last quarter. Finally, EnRich Financial Partners LLC grew its holdings in MGE Energy by 8.7% in the 4th quarter. EnRich Financial Partners LLC now owns 1,744 shares of the utilities provider's stock valued at $164,000 after buying an additional 139 shares in the last quarter. 52.58% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
MGEE has been the subject of several analyst reports. LADENBURG THALM/SH SH upgraded MGE Energy to a "strong sell" rating in a report on Friday, May 9th. Morgan Stanley lowered their price target on MGE Energy from $75.00 to $74.00 and set an "underweight" rating for the company in a report on Thursday, May 22nd.
Check Out Our Latest Stock Analysis on MGEE
MGE Energy Stock Performance
NASDAQ MGEE opened at $88.92 on Friday. The stock has a market cap of $3.25 billion, a PE ratio of 25.12 and a beta of 0.78. The company has a current ratio of 2.07, a quick ratio of 1.49 and a debt-to-equity ratio of 0.61. MGE Energy Inc. has a twelve month low of $72.27 and a twelve month high of $109.22. The stock has a fifty day simple moving average of $90.19 and a 200-day simple moving average of $91.54.
MGE Energy (NASDAQ:MGEE - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The utilities provider reported $1.14 earnings per share for the quarter, topping analysts' consensus estimates of $0.98 by $0.16. The business had revenue of $218.97 million during the quarter, compared to analysts' expectations of $202.42 million. MGE Energy had a return on equity of 10.58% and a net margin of 18.22%. Equities analysts anticipate that MGE Energy Inc. will post 3.43 earnings per share for the current year.
MGE Energy Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend was Friday, May 30th. MGE Energy's dividend payout ratio is presently 50.85%.
MGE Energy Company Profile
(
Free Report)
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.
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