Public Sector Pension Investment Board Has $10.67 Million Holdings in MGE Energy Inc. (NASDAQ:MGEE)

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 boosted its holdings in MGE Energy Inc. (NASDAQ:MGEE - Free Report) by 27.2% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 114,776 shares of the utilities provider's stock after acquiring 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 quarter.

A number of other large investors have also recently bought and sold shares of MGEE. Nuveen LLC acquired a new stake in shares of MGE Energy in the first quarter valued at approximately $20,910,000. Virtu Financial LLC acquired a new stake in shares of MGE Energy in the first quarter valued at approximately $538,000. Entropy Technologies LP acquired a new stake in shares of MGE Energy in the first quarter valued at approximately $232,000. Invesco Ltd. increased its stake in shares of MGE Energy by 49.4% in the first quarter. Invesco Ltd. now owns 208,936 shares of the utilities provider's stock valued at $19,423,000 after purchasing an additional 69,084 shares during the period. Finally, Deutsche Bank AG increased its stake in shares of MGE Energy by 35.4% in the first quarter. Deutsche Bank AG now owns 41,471 shares of the utilities provider's stock valued at $3,855,000 after purchasing an additional 10,850 shares during the period. Institutional investors own 52.58% of the company's stock.

MGE Energy Price Performance

Shares of NASDAQ MGEE traded down $0.51 during mid-day trading on Friday, reaching $84.10. 122,828 shares of the company traded hands, compared to its average volume of 142,286. MGE Energy Inc. has a fifty-two week low of $82.21 and a fifty-two week high of $109.22. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.80 and a quick ratio of 1.20. The firm has a market cap of $3.07 billion, a PE ratio of 23.36 and a beta of 0.76. The stock has a fifty day simple moving average of $86.99 and a 200-day simple moving average of $89.42.

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 (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.01). The business had revenue of $159.45 million during the quarter. MGE Energy had a return on equity of 10.58% and a net margin of 18.24%. Equities research analysts anticipate that MGE Energy Inc. will post 3.43 EPS for the current fiscal year.

MGE Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, June 15th. Shareholders of record on Sunday, June 1st were given a $0.45 dividend. The ex-dividend date was Friday, May 30th. This represents a $1.80 annualized dividend and a yield of 2.1%. MGE Energy's payout ratio is 50.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Morgan Stanley dropped their price target 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. Wall Street Zen lowered shares of MGE Energy from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, LADENBURG THALM/SH SH upgraded shares of MGE Energy to a "strong sell" rating in a research note on Friday, May 9th.

MGE Energy Company 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.