Strs Ohio Makes New Investment in MGE Energy Inc. $MGEE

Key Points

• Strs Ohio has acquired a new stake in MGE Energy Inc., purchasing 11,500 shares valued at approximately $1.07 million in the first quarter.
• MGE Energy announced an increase in its quarterly dividend to $0.475 per share, translating to an annualized dividend yield of 2.3%.
• Analysts have mixed ratings for MGE Energy, with target prices ranging from $69.00 to $83.00 and an overall consensus rating of "Reduce."

Strs Ohio purchased a new position in MGE Energy Inc. (NASDAQ:MGEE - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 11,500 shares of the utilities provider's stock, valued at approximately $1,069,000.

Other large investors also recently modified their holdings of the company. Focus Partners Wealth purchased a new stake in shares of MGE Energy during the 4th quarter worth $116,000. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of MGE Energy during the 1st quarter worth about $139,000. Twinbeech Capital LP purchased a new position in shares of MGE Energy in the 4th quarter valued at about $209,000. United Services Automobile Association purchased a new position in shares of MGE Energy in the 1st quarter valued at about $220,000. Finally, Entropy Technologies LP acquired a new stake in shares of MGE Energy during the 1st quarter worth about $232,000. 52.58% of the stock is owned by hedge funds and other institutional investors.

MGE Energy Stock Performance

Shares of NASDAQ MGEE traded down $0.13 during midday trading on Monday, reaching $83.85. 154,271 shares of the company were exchanged, compared to its average volume of 143,176. The stock has a market cap of $3.06 billion, a P/E ratio of 23.29 and a beta of 0.80. MGE Energy Inc. has a 1 year low of $82.21 and a 1 year high of $109.22. The stock has a fifty day simple moving average of $85.01 and a 200 day simple moving average of $88.36. The company has a current ratio of 1.80, a quick ratio of 1.20 and a debt-to-equity ratio of 0.60.

MGE Energy (NASDAQ:MGEE - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The utilities provider reported $0.72 earnings per share for the quarter, missing analysts' consensus estimates of $0.73 by ($0.01). The company had revenue of $159.45 million for the quarter. MGE Energy had a return on equity of 10.58% and a net margin of 18.24%. On average, research analysts forecast that MGE Energy Inc. will post 3.43 earnings per share for the current fiscal year.

MGE Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 1st were paid a $0.475 dividend. This is a boost from MGE Energy's previous quarterly dividend of $0.45. The ex-dividend date was Friday, August 29th. This represents a $1.90 annualized dividend and a dividend yield of 2.3%. MGE Energy's dividend payout ratio (DPR) is 52.78%.

Analyst Ratings Changes

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

Insider Buying and Selling at MGE Energy

In other news, Director James G. Berbee purchased 507 shares of the company's stock in a transaction dated Friday, August 15th. The shares were acquired at an average cost of $83.83 per share, for a total transaction of $42,501.81. Following the completion of the purchase, the director directly owned 6,329 shares in the company, valued at $530,560.07. The trade was a 8.71% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.19% of the stock is currently owned by insiders.

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.