Oak Wealth Advisors LLC Purchases New Position in MGE Energy Inc. $MGEE

Key Points

• Oak Wealth Advisors LLC has acquired a new stake in MGE Energy Inc., purchasing 3,721 shares valued at approximately $329,000.
• Multiple institutional investors have significantly increased their holdings in MGE Energy, including GAMMA Investing LLC, which boosted its stake by 9,697% in the first quarter.
• MGE Energy has announced a quarterly dividend increase from $0.45 to $0.475 per share, representing an annualized dividend yield of 2.2%.

Oak Wealth Advisors LLC purchased a new stake in shares of MGE Energy Inc. (NASDAQ:MGEE - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 3,721 shares of the utilities provider's stock, valued at approximately $329,000.

A number of other institutional investors also recently modified their holdings of MGEE. GAMMA Investing LLC lifted its stake in shares of MGE Energy by 9,697.0% during the 1st quarter. GAMMA Investing LLC now owns 456,248 shares of the utilities provider's stock valued at $42,413,000 after buying an additional 451,591 shares in the last quarter. Nuveen LLC purchased a new stake in shares of MGE Energy during the 1st quarter valued at approximately $20,910,000. Invesco Ltd. lifted its stake in shares of MGE Energy by 49.4% during the 1st quarter. Invesco Ltd. now owns 208,936 shares of the utilities provider's stock valued at $19,423,000 after buying an additional 69,084 shares in the last quarter. Jane Street Group LLC lifted its stake in shares of MGE Energy by 718.5% during the 1st quarter. Jane Street Group LLC now owns 75,007 shares of the utilities provider's stock valued at $6,973,000 after buying an additional 65,843 shares in the last quarter. Finally, Public Sector Pension Investment Board lifted its stake in shares of MGE Energy by 27.2% during the 1st quarter. Public Sector Pension Investment Board now owns 114,776 shares of the utilities provider's stock valued at $10,670,000 after buying an additional 24,577 shares in the last quarter. 52.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Wall Street Zen cut shares of MGE Energy from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. LADENBURG THALM/SH SH upgraded shares of MGE Energy from a "sell" rating to a "neutral" rating and increased their target price for the stock from $69.00 to $83.00 in a research note on Thursday, September 11th. Finally, Morgan Stanley reiterated an "underweight" rating on shares of MGE Energy in a research note on Thursday, August 21st. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Reduce" and an average price target of $78.50.

Insider Transactions at MGE Energy

In other news, Director James G. Berbee purchased 507 shares of the business's stock in a transaction on Friday, August 15th. The shares were acquired at an average price of $83.83 per share, with a total value of $42,501.81. Following the acquisition, the director directly owned 6,329 shares in the company, valued at approximately $530,560.07. The trade was a 8.71% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.19% of the stock is currently owned by company insiders.

MGE Energy Price Performance

MGEE stock opened at $84.49 on Wednesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.20 and a current ratio of 1.80. MGE Energy Inc. has a 52 week low of $82.21 and a 52 week high of $109.22. The firm's fifty day moving average is $84.99 and its 200 day moving average is $88.33. The firm has a market cap of $3.09 billion, a P/E ratio of 23.47 and a beta of 0.80.

MGE Energy (NASDAQ:MGEE - Get Free Report) last released its earnings results on Wednesday, August 6th. The utilities provider reported $0.72 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 business had revenue of $159.45 million for the quarter. Research analysts predict that MGE Energy Inc. will post 3.43 earnings per share for the current year.

MGE Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 1st were issued a dividend of $0.475 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $1.90 annualized dividend and a dividend yield of 2.2%. This is an increase from MGE Energy's previous quarterly dividend of $0.45. MGE Energy's payout ratio is 52.78%.

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.

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