Principal Financial Group Inc. Has $18.24 Million Stake in MGE Energy Inc. (NASDAQ:MGEE)

Principal Financial Group Inc. grew its position in shares of MGE Energy Inc. (NASDAQ:MGEE - Free Report) by 2.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 196,183 shares of the utilities provider's stock after purchasing an additional 4,736 shares during the quarter. Principal Financial Group Inc. owned approximately 0.54% of MGE Energy worth $18,237,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Creative Financial Designs Inc. ADV raised its holdings in MGE Energy by 1.8% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 7,215 shares of the utilities provider's stock worth $671,000 after purchasing an additional 126 shares during the last quarter. EnRich Financial Partners LLC increased its position in shares of MGE Energy by 8.7% during the fourth quarter. EnRich Financial Partners LLC now owns 1,744 shares of the utilities provider's stock worth $164,000 after buying an additional 139 shares during the period. Summit Investment Advisors Inc. increased its position in shares of MGE Energy by 4.7% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,814 shares of the utilities provider's stock worth $358,000 after buying an additional 172 shares during the period. Teacher Retirement System of Texas raised its stake in MGE Energy by 1.4% during the fourth quarter. Teacher Retirement System of Texas now owns 12,553 shares of the utilities provider's stock worth $1,179,000 after buying an additional 177 shares during the last quarter. Finally, Royal London Asset Management Ltd. lifted its holdings in MGE Energy by 0.5% in the fourth quarter. Royal London Asset Management Ltd. now owns 34,449 shares of the utilities provider's stock valued at $3,237,000 after buying an additional 186 shares during the period. 52.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on MGEE shares. LADENBURG THALM/SH SH upgraded MGE Energy to a "strong sell" rating in a report on Friday, May 9th. Morgan Stanley cut their target price on MGE Energy from $75.00 to $74.00 and set an "underweight" rating on the stock in a research report on Thursday, May 22nd.

MGE Energy Trading Up 0.4%

Shares of MGEE stock traded up $0.33 during trading hours on Monday, hitting $86.58. 159,341 shares of the company were exchanged, compared to its average volume of 137,464. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.49 and a current ratio of 2.07. MGE Energy Inc. has a fifty-two week low of $79.38 and a fifty-two week high of $109.22. The company has a 50 day simple moving average of $89.64 and a two-hundred day simple moving average of $90.46. The firm has a market cap of $3.16 billion, a P/E ratio of 24.46 and a beta of 0.76.

MGE Energy (NASDAQ:MGEE - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The utilities provider reported $1.14 EPS for the quarter, topping analysts' consensus estimates of $0.98 by $0.16. MGE Energy had a net margin of 18.22% and a return on equity of 10.58%. The business had revenue of $218.97 million during the quarter, compared to analysts' expectations of $202.42 million. Equities analysts anticipate that MGE Energy Inc. will post 3.43 EPS for the current year.

MGE Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, June 15th. Investors of record on Sunday, June 1st were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend was Friday, May 30th. MGE Energy's payout ratio is 50.85%.

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.