Universal Beteiligungs und Servicegesellschaft mbH Takes Position in MGE Energy Inc. (NASDAQ:MGEE)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH has acquired 5,068 shares of MGE Energy Inc., valued at approximately $471,000, marking its entry into the utilities provider's stock in Q1.
• Several institutional investors have significantly increased their stakes in MGE Energy, with GAMMA Investing LLC raising its holdings by an astonishing 9,697.0% this quarter.
• MGE Energy's stock has seen recent analyst activity, with Morgan Stanley lowering its target price from $75.00 to $74.00 and rating it as "underweight."

Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in MGE Energy Inc. (NASDAQ:MGEE - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 5,068 shares of the utilities provider's stock, valued at approximately $471,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in shares of MGE Energy in the 4th quarter valued at approximately $781,000. Sei Investments Co. increased its position in shares of MGE Energy by 12.7% in the 4th quarter. Sei Investments Co. now owns 11,235 shares of the utilities provider's stock valued at $1,056,000 after purchasing an additional 1,263 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of MGE Energy by 145.0% in the 4th quarter. JPMorgan Chase & Co. now owns 146,008 shares of the utilities provider's stock valued at $13,719,000 after purchasing an additional 86,423 shares during the last quarter. ExodusPoint Capital Management LP purchased a new stake in shares of MGE Energy in the 4th quarter valued at approximately $1,613,000. Finally, Resona Asset Management Co. Ltd. purchased a new stake in shares of MGE Energy in the 4th quarter valued at approximately $610,000. Hedge funds and other institutional investors own 52.58% of the company's stock.

MGE Energy Price Performance

MGEE stock traded up $0.22 during trading on Thursday, hitting $84.11. The company had a trading volume of 37,846 shares, compared to its average volume of 149,121. MGE Energy Inc. has a fifty-two week low of $82.21 and a fifty-two week high of $109.22. The company has a current ratio of 2.07, a quick ratio of 1.49 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $3.07 billion, a price-to-earnings ratio of 23.67 and a beta of 0.76. The business has a 50 day moving average of $87.72 and a 200 day moving average of $89.65.

MGE Energy (NASDAQ:MGEE - Get Free Report) last issued its earnings results 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). MGE Energy had a net margin of 18.22% and a return on equity of 10.58%. The business had revenue of $159.45 million during the quarter. As a group, research analysts predict that MGE Energy Inc. will post 3.43 earnings per share 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 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Friday, May 30th. MGE Energy's dividend payout ratio (DPR) is 50.85%.

Analysts Set New Price Targets

A number of analysts recently weighed in on MGEE shares. Wall Street Zen cut shares of MGE Energy from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Morgan Stanley reduced their price objective on shares of MGE Energy from $75.00 to $74.00 and set an "underweight" rating for the company in a research note on Thursday, May 22nd. Finally, LADENBURG THALM/SH SH upgraded shares of MGE Energy to a "strong sell" rating in a research note on Friday, May 9th.

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.