SG Americas Securities LLC bought a new position in MGE Energy Inc. (NASDAQ:MGEE - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,569 shares of the utilities provider's stock, valued at approximately $332,000.
Other hedge funds also recently made changes to their positions in the company. Sterling Capital Management LLC lifted its position in shares of MGE Energy by 656.2% in the fourth quarter. Sterling Capital Management LLC now owns 673 shares of the utilities provider's stock worth $63,000 after buying an additional 584 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of MGE Energy by 507.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,112 shares of the utilities provider's stock worth $105,000 after buying an additional 929 shares in the last quarter. Focus Partners Wealth purchased a new stake in shares of MGE Energy in the fourth quarter worth about $116,000. Farther Finance Advisors LLC lifted its position in shares of MGE Energy by 7,321.7% in the fourth quarter. Farther Finance Advisors LLC now owns 1,707 shares of the utilities provider's stock worth $160,000 after buying an additional 1,684 shares in the last quarter. Finally, EnRich Financial Partners LLC lifted its position in shares of MGE Energy by 8.7% in 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 in the last quarter. 52.58% of the stock is currently owned by hedge funds and other institutional investors.
MGE Energy Trading Down 0.3%
NASDAQ MGEE traded down $0.29 during trading hours on Friday, hitting $88.15. 530,014 shares of the company were exchanged, compared to its average volume of 135,491. The stock has a 50-day moving average price of $90.04 and a 200 day moving average price of $90.91. The company has a quick ratio of 1.49, a current ratio of 2.07 and a debt-to-equity ratio of 0.61. MGE Energy Inc. has a 52 week low of $72.27 and a 52 week high of $109.22. The stock has a market cap of $3.22 billion, a PE ratio of 24.90 and a beta of 0.78.
MGE Energy (NASDAQ:MGEE - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The utilities provider reported $1.14 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.16. MGE Energy had a return on equity of 10.58% and a net margin of 18.22%. The company had revenue of $218.97 million for the quarter, compared to analysts' expectations of $202.42 million. Analysts forecast that MGE Energy Inc. will post 3.43 earnings per share for the current fiscal year.
MGE Energy Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Sunday, June 15th. Shareholders of record on Sunday, June 1st were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.80 annualized dividend and a yield of 2.04%. MGE Energy's payout ratio is currently 50.85%.
Analyst Upgrades and Downgrades
MGEE has been the topic of a number of research analyst reports. Morgan Stanley decreased 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. LADENBURG THALM/SH SH upgraded MGE Energy to a "strong sell" rating in a research report on Friday, May 9th.
View Our Latest Analysis on MGE Energy
About MGE Energy
(
Free Report)
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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