Virtu Financial LLC Purchases New Stake in MGE Energy Inc. $MGEE

Key Points

• Virtu Financial LLC has acquired a new stake in MGE Energy Inc., purchasing 5,789 shares valued at approximately $538,000.
• MGE Energy reported quarterly earnings of $0.72 EPS, slightly missing analysts' expectations, with a revenue of $159.45 million.
• The company recently declared a quarterly dividend of $0.45, representing an annualized yield of 2.1%.

Virtu Financial LLC bought a new stake in MGE Energy Inc. (NASDAQ:MGEE - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 5,789 shares of the utilities provider's stock, valued at approximately $538,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in MGEE. Sterling Capital Management LLC increased its stake in shares of MGE Energy by 656.2% in the 4th quarter. Sterling Capital Management LLC now owns 673 shares of the utilities provider's stock valued at $63,000 after acquiring an additional 584 shares during the last quarter. Focus Partners Wealth acquired a new position in MGE Energy in the 4th quarter worth $116,000. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of MGE Energy during the first quarter worth about $139,000. Benjamin Edwards Inc. bought a new position in shares of MGE Energy during the 4th quarter worth approximately $200,000. Finally, Twinbeech Capital LP bought a new stake in MGE Energy during the 4th quarter worth about $209,000. 52.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Wall Street Zen cut shares of MGE Energy from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Morgan Stanley lowered 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 report on Thursday, May 22nd. Finally, LADENBURG THALM/SH SH raised MGE Energy to a "strong sell" rating in a research note on Friday, May 9th.

MGE Energy Trading Down 0.6%

NASDAQ MGEE traded down $0.51 during trading hours on Monday, reaching $83.60. The company's stock had a trading volume of 24,740 shares, compared to its average volume of 147,867. The firm has a fifty day simple moving average of $86.99 and a 200-day simple moving average of $89.41. The stock has a market cap of $3.05 billion, a P/E ratio of 23.18 and a beta of 0.76. MGE Energy Inc. has a 52 week low of $82.21 and a 52 week high of $109.22. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.80 and a quick ratio of 1.20.

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 the consensus estimate of $0.73 by ($0.01). The firm 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%. Equities analysts forecast that MGE Energy Inc. will post 3.43 earnings per share for the current fiscal year.

MGE Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st were paid a $0.45 dividend. The ex-dividend date was Friday, May 30th. This represents a $1.80 annualized dividend and a dividend yield of 2.2%. MGE Energy's dividend payout ratio (DPR) is currently 50.00%.

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.