Jupiter Topco LLC Makes New $1.33 Million Investment in MGE Energy Inc. $MGEE

Key Points

• Jupiter Topco LLC acquired 16,376 MGE Energy shares in the second quarter, valued at approximately $1.33 million. Institutional investors collectively own 52.58% of the utility company.
• MGE Energy reported quarterly EPS of $0.89, exceeding analysts’ $0.77 estimate, although revenue of $161.19 million fell short of expectations.
• The company raised its quarterly dividend to $0.5083, equating to an annualized dividend of $2.03 and a 2.6% yield. Analyst sentiment remains mixed, with an overall “Hold” rating and an average price target of $77.50.

Jupiter Topco LLC purchased a new stake in MGE Energy Inc. (NASDAQ:MGEE - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 16,376 shares of the utilities provider's stock, valued at approximately $1,335,000.

A number of other large investors have also recently made changes to their positions in MGEE. Hantz Financial Services Inc. grew its stake in MGE Energy by 63.8% in the fourth quarter. Hantz Financial Services Inc. now owns 416 shares of the utilities provider's stock worth $33,000 after purchasing an additional 162 shares in the last quarter. Advisory Services Network LLC acquired a new stake in shares of MGE Energy during the third quarter worth about $40,000. Avalon Trust Co acquired a new position in MGE Energy in the 2nd quarter worth approximately $49,000. Parallel Advisors LLC lifted its stake in MGE Energy by 28.6% during the 3rd quarter. Parallel Advisors LLC now owns 714 shares of the utilities provider's stock valued at $60,000 after acquiring an additional 159 shares during the period. Finally, Versant Capital Management Inc raised its stake in shares of MGE Energy by 60.3% during the 2nd quarter. Versant Capital Management Inc now owns 744 shares of the utilities provider's stock valued at $61,000 after buying an additional 280 shares during the last quarter. 52.58% of the stock is owned by hedge funds and other institutional investors.

MGE Energy Price Performance

MGEE stock opened at $77.37 on Friday. The company has a market capitalization of $2.92 billion, a PE ratio of 19.01 and a beta of 0.70. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.61. MGE Energy Inc. has a 52-week low of $72.16 and a 52-week high of $87.94. The stock's 50 day moving average is $80.70 and its two-hundred day moving average is $78.69.

MGE Energy (NASDAQ:MGEE - Get Free Report) last issued its earnings results on Wednesday, August 5th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.77 by $0.12. MGE Energy had a net margin of 19.45% and a return on equity of 11.10%. The firm had revenue of $161.19 million for the quarter, compared to analysts' expectations of $166.37 million. Analysts predict that MGE Energy Inc. will post 3.99 earnings per share for the current fiscal year.

MGE Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a $0.5083 dividend. This is a positive change from MGE Energy's previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $2.03 dividend on an annualized basis and a yield of 2.6%. MGE Energy's dividend payout ratio is currently 49.88%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on MGEE shares. LADENBURG THALM/SH SH raised shares of MGE Energy from a "neutral" rating to a "buy" rating and set a $81.00 price target on the stock in a research note on Monday, June 8th. Weiss Ratings restated a "hold (c)" rating on shares of MGE Energy in a research note on Wednesday, August 5th. Finally, Morgan Stanley lowered their target price on shares of MGE Energy from $76.00 to $74.00 and set an "underweight" rating for the company in a report on Friday, August 21st. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, MGE Energy has an average rating of "Hold" and an average target price of $77.50.

MGE Energy Profile

MGE Energy, Inc is a public utility holding company headquartered in Madison, Wisconsin. Through its principal subsidiary, Madison Gas and Electric Company (MGE), the company provides regulated electric and natural gas distribution services to residential, commercial and industrial customers in south-central Wisconsin. MGE Energy's operations encompass the generation, transmission and distribution of electricity as well as the purchase and distribution of natural gas, with an emphasis on reliable service and system resilience.

Since reorganizing as a holding company in 2001, MGE Energy has expanded its portfolio to include nonregulated subsidiaries involved in renewable energy development, energy services and infrastructure support.

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