Squarepoint Ops LLC acquired a new stake in shares of MGE Energy, Inc. (NASDAQ:MGEE - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 13,867 shares of the utilities provider's stock, valued at approximately $1,303,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its position in shares of MGE Energy by 0.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 769,612 shares of the utilities provider's stock valued at $72,314,000 after acquiring an additional 2,225 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in MGE Energy by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 432,877 shares of the utilities provider's stock valued at $40,673,000 after purchasing an additional 7,416 shares during the last quarter. Northern Trust Corp grew its stake in MGE Energy by 6.7% in the 4th quarter. Northern Trust Corp now owns 393,127 shares of the utilities provider's stock worth $36,938,000 after buying an additional 24,605 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of MGE Energy by 4.1% in the 4th quarter. Principal Financial Group Inc. now owns 191,447 shares of the utilities provider's stock worth $17,988,000 after buying an additional 7,554 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of MGE Energy by 145.0% during the 4th quarter. JPMorgan Chase & Co. now owns 146,008 shares of the utilities provider's stock valued at $13,719,000 after buying an additional 86,423 shares in the last quarter. 52.58% of the stock is currently owned by hedge funds and other institutional investors.
MGE Energy Price Performance
Shares of MGEE stock traded down $1.44 during trading hours on Wednesday, hitting $88.80. 86,520 shares of the company's stock were exchanged, compared to its average volume of 137,779. MGE Energy, Inc. has a 12-month low of $72.27 and a 12-month high of $109.22. The company has a market capitalization of $3.24 billion, a PE ratio of 27.16 and a beta of 0.80. The business's 50 day simple moving average is $90.42 and its 200-day simple moving average is $92.73. The company has a current ratio of 1.41, a quick ratio of 0.94 and a debt-to-equity ratio of 0.60.
MGE Energy (NASDAQ:MGEE - Get Free Report) last released its earnings results on Wednesday, May 7th. The utilities provider reported $1.14 EPS for the quarter, beating the consensus estimate of $0.98 by $0.16. The company had revenue of $218.97 million for the quarter, compared to analyst estimates of $202.42 million. MGE Energy had a net margin of 17.70% and a return on equity of 10.18%. On average, equities research analysts anticipate that MGE Energy, Inc. will post 3.43 earnings per share for the current year.
MGE Energy Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st will be issued a $0.45 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.80 annualized dividend and a dividend yield of 2.03%. MGE Energy's dividend payout ratio is currently 50.85%.
Insider Activity
In related news, Director James G. Berbee purchased 446 shares of the firm's stock in a transaction on Wednesday, March 12th. The shares were acquired at an average cost of $90.83 per share, with a total value of $40,510.18. Following the purchase, the director now directly owns 11,532 shares of the company's stock, valued at approximately $1,047,451.56. This trade represents a 4.02% increase in their ownership of the stock. The purchase 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 corporate insiders.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on the stock. Morgan Stanley dropped their price objective on shares of MGE Energy from $75.00 to $74.00 and set an "underweight" rating for the company in a report on Thursday, May 22nd. LADENBURG THALM/SH SH upgraded MGE Energy to a "strong sell" rating in a report on Friday, May 9th.
Get Our Latest Analysis on MGEE
MGE Energy Company Profile
(
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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