XTX Topco Ltd Purchases Shares of 3,292 MGE Energy Inc. (NASDAQ:MGEE)

Key Points

• XTX Topco Ltd acquired 3,292 shares of MGE Energy Inc. worth approximately $306,000 in the first quarter, reflecting growing interest from institutional investors.
1.1% decline recently, with shares trading at $83.21, while the company reported a quarterly earnings miss of $0.72 per share.
• The company recently declared a quarterly dividend of $0.45 per share, with a dividend yield of 2.2% and a payout ratio of 50%.

XTX Topco Ltd purchased a new stake in MGE Energy Inc. (NASDAQ:MGEE - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,292 shares of the utilities provider's stock, valued at approximately $306,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its position in shares of MGE Energy by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 769,612 shares of the utilities provider's stock worth $72,314,000 after buying an additional 2,225 shares during the period. GAMMA Investing LLC increased its position in shares of MGE Energy by 9,697.0% during the first quarter. GAMMA Investing LLC now owns 456,248 shares of the utilities provider's stock worth $42,413,000 after buying an additional 451,591 shares during the period. Northern Trust Corp increased its position in shares of MGE Energy by 6.7% during the fourth 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 during the period. Principal Financial Group Inc. increased its position in shares of MGE Energy by 2.5% during the first quarter. Principal Financial Group Inc. now owns 196,183 shares of the utilities provider's stock worth $18,237,000 after buying an additional 4,736 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of MGE Energy by 145.0% during the fourth quarter. JPMorgan Chase & Co. now owns 146,008 shares of the utilities provider's stock worth $13,719,000 after buying an additional 86,423 shares during the period. 52.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MGEE. Morgan Stanley decreased 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. LADENBURG THALM/SH SH upgraded shares of MGE Energy to a "strong sell" rating in a research report on Friday, May 9th. 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.

MGE Energy Stock Down 1.1%

Shares of NASDAQ MGEE opened at $83.21 on Monday. The firm has a market cap of $3.04 billion, a PE ratio of 23.11 and a beta of 0.76. MGE Energy Inc. has a 12-month low of $82.21 and a 12-month high of $109.22. The company's fifty day simple moving average is $87.45 and its 200 day simple moving average is $89.54. The company has a quick ratio of 1.20, a current ratio of 1.80 and a debt-to-equity ratio of 0.60.

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 (EPS) for the quarter, missing the consensus estimate 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%. As a group, sell-side analysts forecast that MGE Energy Inc. will post 3.43 earnings per share for the current fiscal year.

MGE Energy Dividend Announcement

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

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