Exchange Traded Concepts LLC cut its stake in MGE Energy Inc. (NASDAQ:MGEE - Free Report) by 56.5% during the first quarter, according to its most recent 13F filing with the Securities and 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 reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. EnRich Financial Partners LLC lifted its stake 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 worth $164,000 after purchasing an additional 139 shares in the last quarter. Summit Investment Advisors Inc. lifted its stake in MGE Energy by 4.7% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,814 shares of the utilities provider's stock worth $358,000 after purchasing an additional 172 shares in the last quarter. Teacher Retirement System of Texas lifted its stake in MGE Energy by 1.4% in the 4th quarter. Teacher Retirement System of Texas now owns 12,553 shares of the utilities provider's stock worth $1,179,000 after purchasing an additional 177 shares in the last quarter. Royal London Asset Management Ltd. lifted its stake in MGE Energy by 0.5% in the 4th quarter. Royal London Asset Management Ltd. now owns 34,449 shares of the utilities provider's stock worth $3,237,000 after purchasing an additional 186 shares in the last quarter. Finally, Xponance Inc. lifted its stake in MGE Energy by 9.1% in the 4th quarter. Xponance Inc. now owns 2,594 shares of the utilities provider's stock worth $244,000 after purchasing an additional 217 shares in the last quarter. 52.58% of the stock is owned by hedge funds and other institutional investors.
MGE Energy Stock Up 1.3%
Shares of MGE Energy stock traded up $1.11 during trading on Monday, hitting $89.48. 304,623 shares of the stock were exchanged, compared to its average volume of 136,195. The stock has a market cap of $3.27 billion, a price-to-earnings ratio of 25.28 and a beta of 0.78. The firm's 50-day moving average price is $90.14 and its 200 day moving average price is $91.21. MGE Energy Inc. has a 12-month low of $72.27 and a 12-month high of $109.22. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.07 and a quick ratio of 1.49.
MGE Energy (NASDAQ:MGEE - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The utilities provider reported $1.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.98 by $0.16. MGE Energy had a net margin of 18.22% and a return on equity of 10.58%. The firm had revenue of $218.97 million during the quarter, compared to analysts' expectations of $202.42 million. As a group, analysts forecast that MGE Energy Inc. will post 3.43 earnings per share for the current fiscal year.
MGE Energy Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Sunday, June 15th. Investors of record on Sunday, June 1st were given a $0.45 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.80 dividend on an annualized basis and a yield of 2.01%. MGE Energy's dividend payout ratio (DPR) is presently 50.85%.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on MGEE. LADENBURG THALM/SH SH upgraded shares of MGE Energy to a "strong sell" rating in a report on Friday, May 9th. Morgan Stanley decreased their price target on shares of MGE Energy from $75.00 to $74.00 and set an "underweight" rating for the company in a research report on Thursday, May 22nd.
View Our Latest Stock Report on MGEE
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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