MGE Energy Inc. $MGEE Shares Acquired by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC increased its stake in MGE Energy Inc. by 43.9%, owning $1.93 million worth of shares as of the end of the first quarter.
• The company recently raised its quarterly dividend to $0.475 per share, resulting in an annualized dividend of $1.90 and a yield of 2.3%.
• MGE Energy's stock has been rated with mixed sentiments from analysts, with one firm raising its rating from "sell" to "neutral" and a consensus target price of $78.50.

Intech Investment Management LLC grew its position in shares of MGE Energy Inc. (NASDAQ:MGEE - Free Report) by 43.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,777 shares of the utilities provider's stock after purchasing an additional 6,341 shares during the quarter. Intech Investment Management LLC owned approximately 0.06% of MGE Energy worth $1,931,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in MGEE. Focus Partners Wealth purchased a new position in shares of MGE Energy during the 4th quarter valued at approximately $116,000. MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of MGE Energy during the 1st quarter valued at approximately $139,000. Twinbeech Capital LP purchased a new position in shares of MGE Energy during the 4th quarter valued at approximately $209,000. United Services Automobile Association purchased a new stake in MGE Energy in the 1st quarter worth $220,000. Finally, Entropy Technologies LP purchased a new stake in MGE Energy in the 1st quarter worth $232,000. 52.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MGEE. Morgan Stanley reissued an "underweight" rating on shares of MGE Energy in a report on Thursday, August 21st. LADENBURG THALM/SH SH raised shares of MGE Energy from a "sell" rating to a "neutral" rating and boosted their price target for the stock from $69.00 to $83.00 in a report on Thursday, September 11th. Finally, Wall Street Zen lowered shares of MGE Energy from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, MGE Energy has an average rating of "Reduce" and a consensus price target of $78.50.

MGE Energy Price Performance

NASDAQ:MGEE traded down $0.13 during trading hours on Friday, hitting $83.98. The company's stock had a trading volume of 546,508 shares, compared to its average volume of 124,047. The business's 50-day moving average is $85.06 and its two-hundred day moving average is $88.41. The company has a market capitalization of $3.07 billion, a PE ratio of 23.33 and a beta of 0.80. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.20 and a current ratio of 1.80. MGE Energy Inc. has a 52-week low of $82.21 and a 52-week high of $109.22.

MGE Energy (NASDAQ:MGEE - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The utilities provider reported $0.72 earnings per share for the quarter, missing analysts' consensus estimates 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%. As a group, research analysts anticipate that MGE Energy Inc. will post 3.43 EPS for the current fiscal year.

MGE Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 1st were paid a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was 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 52.78%.

Insider Buying and Selling at MGE Energy

In other news, Director James G. Berbee acquired 507 shares of MGE Energy stock in a transaction dated Friday, August 15th. The shares were acquired at an average cost of $83.83 per share, with a total value of $42,501.81. Following the purchase, the director directly owned 6,329 shares of the company's stock, valued at approximately $530,560.07. This trade represents a 8.71% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.19% of the stock is owned by corporate insiders.

About MGE Energy

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.