MGE Energy Inc. $MGEE Shares Bought by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board increased its stake in MGE Energy Inc. by 27.2%, owning approximately 0.31% of the company, valued at about $10.67 million.
• MGE Energy's earnings report showed an EPS of $0.72, slightly missing analysts' expectations, while the company declared a quarterly dividend of $0.45 per share, yielding 2.1% annually.
• Several analysts have recently downgraded MGE Energy's stock, with Wall Street Zen changing its rating from "buy" to "hold" and Morgan Stanley lowering its price target from $75.00 to $74.00.

Public Sector Pension Investment Board lifted its holdings in MGE Energy Inc. (NASDAQ:MGEE - Free Report) by 27.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 114,776 shares of the utilities provider's stock after buying an additional 24,577 shares during the period. Public Sector Pension Investment Board owned about 0.31% of MGE Energy worth $10,670,000 at the end of the most recent reporting period.

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

MGE Energy Price Performance

Shares of NASDAQ MGEE traded down $0.51 during trading on Monday, hitting $83.60. The company had a trading volume of 24,740 shares, compared to its average volume of 147,867. The stock has a fifty day simple moving average of $86.99 and a two-hundred day simple moving average of $89.41. MGE Energy Inc. has a fifty-two week low of $82.21 and a fifty-two week high of $109.22. The firm has a market capitalization of $3.05 billion, a price-to-earnings ratio of 23.18 and a beta of 0.76. The company has a quick ratio of 1.20, a current ratio of 1.80 and a debt-to-equity ratio of 0.60.

MGE Energy (NASDAQ:MGEE - Get Free Report) last posted 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 business had revenue of $159.45 million for the quarter. MGE Energy had a return on equity of 10.58% and a net margin of 18.24%. On average, research analysts expect that MGE Energy Inc. will post 3.43 earnings per share for the current year.

MGE Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, June 15th. Shareholders of record on Sunday, June 1st were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.2%. The ex-dividend date was Friday, May 30th. MGE Energy's payout ratio is presently 50.00%.

Wall Street Analysts Forecast Growth

MGEE has been the subject of a number of analyst reports. Wall Street Zen cut shares of MGE Energy from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Morgan Stanley cut their price objective on shares of MGE Energy from $75.00 to $74.00 and set an "underweight" rating on the stock in a research note on Thursday, May 22nd. Finally, LADENBURG THALM/SH SH raised shares of MGE Energy to a "strong sell" rating in a report on Friday, May 9th.

MGE Energy Profile

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.