Jefferies Financial Group Inc. Decreases Stake in MGE Energy Inc. (NASDAQ:MGEE)

Key Points

• Jefferies Financial Group Inc. significantly reduced its stake in MGE Energy Inc. by 87.8% in the first quarter, leaving it with a mere 2,217 shares valued at $206,000.
• Various institutional investors have modified their positions in MGE Energy, with Sterling Capital Management increasing its holdings by 656.2% during the fourth quarter.
• MGE Energy reported a quarterly earnings miss with earnings per share at $0.72, slightly below the consensus estimate of $0.73.

Jefferies Financial Group Inc. lessened its holdings in shares of MGE Energy Inc. (NASDAQ:MGEE - Free Report) by 87.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,217 shares of the utilities provider's stock after selling 15,953 shares during the quarter. Jefferies Financial Group Inc.'s holdings in MGE Energy were worth $206,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Sterling Capital Management LLC lifted its position in MGE Energy by 656.2% in the fourth 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 during the fourth quarter valued at $116,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of MGE Energy during the first quarter valued at $139,000. Benjamin Edwards Inc. purchased a new stake in shares of MGE Energy during the fourth quarter valued at $200,000. Finally, Twinbeech Capital LP purchased a new position in MGE Energy in the fourth quarter worth about $209,000. Institutional investors own 52.58% of the company's stock.

MGE Energy Stock Performance

MGE Energy stock traded up $0.41 during trading hours on Wednesday, hitting $85.46. 23,561 shares of the stock traded hands, compared to its average volume of 148,462. 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's 50 day moving average price is $87.20 and its 200-day moving average price is $89.49. The stock has a market capitalization of $3.12 billion, a price-to-earnings ratio of 23.75 and a beta of 0.76. MGE Energy Inc. has a 1 year low of $82.21 and a 1 year high of $109.22.

MGE Energy (NASDAQ:MGEE - Get Free Report) last issued its earnings results on Wednesday, August 6th. The utilities provider reported $0.72 EPS for the quarter, missing analysts' consensus estimates of $0.73 by ($0.01). The company 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%. As a group, equities analysts expect that MGE Energy Inc. will post 3.43 EPS for the current fiscal year.

MGE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, June 15th. Investors of record on Sunday, June 1st were issued a $0.45 dividend. The ex-dividend date was Friday, May 30th. This represents a $1.80 dividend on an annualized basis and a yield of 2.1%. MGE Energy's dividend payout ratio (DPR) is 50.00%.

Analysts Set New Price Targets

Several research firms have recently commented on MGEE. LADENBURG THALM/SH SH raised MGE Energy to a "strong sell" rating in a research note on Friday, May 9th. Wall Street Zen downgraded MGE Energy from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, Morgan Stanley reduced their price objective on MGE Energy from $75.00 to $74.00 and set an "underweight" rating on the stock in a research note on Thursday, May 22nd.

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.