Vanguard Group Inc. Has $424.38 Million Stock Position in MGE Energy Inc. $MGEE

Key Points

• Vanguard Group Inc. sold 75,299 shares of MGE Energy Inc., reducing its stake in the company by 1.6% during the first quarter.
• MGE Energy recently reported $0.72 earnings per share for the quarter, missing the analysts' expectations by $0.01.
• The company declared a quarterly dividend of $0.45, representing an annualized rate of $1.80 and a yield of 2.1%.

Vanguard Group Inc. trimmed its stake in shares of MGE Energy Inc. (NASDAQ:MGEE - Free Report) by 1.6% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 4,565,233 shares of the utilities provider's stock after selling 75,299 shares during the quarter. Vanguard Group Inc. owned about 12.50% of MGE Energy worth $424,384,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Creative Financial Designs Inc. ADV lifted its position in shares of MGE Energy by 1.8% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 7,215 shares of the utilities provider's stock worth $671,000 after buying an additional 126 shares during the last quarter. Xponance Inc. lifted its position in shares of MGE Energy by 5.1% during the 1st quarter. Xponance Inc. now owns 2,725 shares of the utilities provider's stock worth $253,000 after buying an additional 131 shares during the last quarter. Summit Investment Advisors Inc. lifted its position in shares of MGE Energy by 4.7% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,814 shares of the utilities provider's stock worth $358,000 after buying an additional 172 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of MGE Energy by 5.4% during the 1st quarter. GAMMA Investing LLC now owns 4,908 shares of the utilities provider's stock worth $456,000 after buying an additional 251 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its position in MGE Energy by 12.5% in the first quarter. Nisa Investment Advisors LLC now owns 2,508 shares of the utilities provider's stock valued at $233,000 after purchasing an additional 279 shares during the last quarter. 52.58% of the stock is currently owned by institutional investors.

Insider Buying and Selling at MGE Energy

In related news, Director James G. Berbee purchased 507 shares of the firm's stock in a transaction dated Friday, August 15th. The stock was bought at an average price of $83.83 per share, with a total value of $42,501.81. Following the completion of the purchase, the director owned 6,329 shares in the company, valued at approximately $530,560.07. This represents a 8.71% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.19% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on MGEE shares. LADENBURG THALM/SH SH upgraded MGE Energy to a "strong sell" rating in a research report on Friday, May 9th. Wall Street Zen downgraded MGE Energy from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, Morgan Stanley dropped their target price on MGE Energy from $75.00 to $74.00 and set an "underweight" rating for the company in a research report on Thursday, May 22nd. Two equities research analysts have rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of "Sell" and an average price target of $74.00.

MGE Energy Trading Up 0.2%

Shares of MGEE stock traded up $0.14 on Wednesday, hitting $85.10. The company had a trading volume of 102,548 shares, compared to its average volume of 138,648. The firm has a market cap of $3.11 billion, a P/E ratio of 23.64 and a beta of 0.76. The stock's 50-day moving average is $86.71 and its two-hundred day moving average is $89.31. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.20 and a current ratio of 1.80. MGE Energy Inc. has a twelve month low of $82.21 and a twelve month high of $109.22.

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

MGE Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 1st will be paid a $0.475 dividend. The ex-dividend date of this dividend is Friday, August 29th. This is a positive change from MGE Energy's previous quarterly dividend of $0.45. This represents a $1.90 annualized dividend and a dividend yield of 2.2%. MGE Energy's payout ratio is currently 50.00%.

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.