MGE Energy Inc. $MGEE Shares Bought by Invesco Ltd.

Key Points

• Invesco Ltd. increased its stake in MGE Energy Inc. by 49.4% in Q1, holding approximately $19.42 million worth of shares.
• MGE Energy recently announced a dividend increase, raising its quarterly payout from $0.45 to $0.475, reflecting an annualized yield of 2.2%.
• The stock of MGE Energy has faced analyst downgrades, currently holding a consensus rating of "Sell" with an average target price of $74.00.

Invesco Ltd. increased its stake in MGE Energy Inc. (NASDAQ:MGEE - Free Report) by 49.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 208,936 shares of the utilities provider's stock after purchasing an additional 69,084 shares during the period. Invesco Ltd. owned 0.57% of MGE Energy worth $19,423,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Sterling Capital Management LLC lifted its holdings in shares of MGE Energy by 656.2% in the 4th quarter. Sterling Capital Management LLC now owns 673 shares of the utilities provider's stock worth $63,000 after purchasing an additional 584 shares during the last quarter. Focus Partners Wealth bought a new stake in shares of MGE Energy in the 4th quarter worth approximately $116,000. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of MGE Energy in the 1st quarter worth approximately $139,000. Benjamin Edwards Inc. bought a new stake in shares of MGE Energy in the 4th quarter worth approximately $200,000. Finally, Twinbeech Capital LP bought a new stake in shares of MGE Energy in the 4th quarter worth approximately $209,000. Institutional investors own 52.58% of the company's stock.

Insider Activity

In other news, Director James G. Berbee purchased 507 shares of the stock in a transaction dated 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 transaction, the director owned 6,329 shares in the company, valued at $530,560.07. This trade represents a 8.71% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.19% of the company's stock.

Analysts Set New Price Targets

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

MGE Energy Stock Performance

MGE Energy stock traded up $0.07 during mid-day trading on Wednesday, hitting $87.49. 146,792 shares of the company's stock traded hands, compared to its average volume of 138,462. The firm has a 50 day moving average price of $86.54 and a 200 day moving average price of $89.20. The company has a quick ratio of 1.20, a current ratio of 1.80 and a debt-to-equity ratio of 0.60. The company has a market cap of $3.20 billion, a PE ratio of 24.30 and a beta of 0.76. MGE Energy Inc. has a one year low of $82.21 and a one year high of $109.22.

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

MGE Energy Increases Dividend

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

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.