SG Americas Securities LLC Buys Shares of 3,569 MGE Energy Inc. (NASDAQ:MGEE)

SG Americas Securities LLC bought a new position in shares of MGE Energy Inc. (NASDAQ:MGEE - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 3,569 shares of the utilities provider's stock, valued at approximately $332,000.

Other hedge funds also recently added to or reduced their stakes in the company. Sterling Capital Management LLC raised 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 period. Smartleaf Asset Management LLC increased its position in shares of MGE Energy by 507.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,112 shares of the utilities provider's stock worth $105,000 after acquiring an additional 929 shares during the last quarter. Focus Partners Wealth purchased a new stake in shares of MGE Energy during the fourth quarter worth about $116,000. Farther Finance Advisors LLC increased its position in shares of MGE Energy by 7,321.7% during the fourth quarter. Farther Finance Advisors LLC now owns 1,707 shares of the utilities provider's stock worth $160,000 after acquiring an additional 1,684 shares during the last quarter. Finally, 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 acquiring an additional 139 shares during the last quarter. 52.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MGEE has been the topic of a number of analyst reports. Morgan Stanley dropped 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 raised MGE Energy to a "strong sell" rating in a research report on Friday, May 9th.

MGE Energy Stock Down 0.3%

Shares of NASDAQ MGEE traded down $0.29 during midday trading on Friday, reaching $88.15. 530,014 shares of the company's stock were exchanged, compared to its average volume of 135,491. MGE Energy Inc. has a 52-week low of $72.27 and a 52-week high of $109.22. The stock has a market capitalization of $3.22 billion, a PE ratio of 24.90 and a beta of 0.78. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.49 and a current ratio of 2.07. The business's fifty day moving average price is $90.04 and its two-hundred day moving average price is $90.96.

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. The business had revenue of $218.97 million during the quarter, compared to the consensus estimate of $202.42 million. MGE Energy had a return on equity of 10.58% and a net margin of 18.22%. Analysts forecast that MGE Energy Inc. will post 3.43 EPS for the current year.

MGE Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, June 15th. Investors of record on Sunday, June 1st were paid a $0.45 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.80 dividend on an annualized basis and a yield of 2.04%. MGE Energy's dividend payout ratio (DPR) is 50.85%.

MGE Energy 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.