XTX Topco Ltd Takes $306,000 Position in 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 acquired a new stake in shares of MGE Energy Inc. (NASDAQ:MGEE - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 3,292 shares of the utilities provider's stock, valued at approximately $306,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its holdings in MGE Energy by 9,697.0% in 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. JPMorgan Chase & Co. lifted its holdings in MGE Energy by 145.0% in 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. Millennium Management LLC lifted its holdings in MGE Energy by 134.8% in the fourth quarter. Millennium Management LLC now owns 106,611 shares of the utilities provider's stock worth $10,017,000 after buying an additional 61,200 shares during the period. Susquehanna International Group LLP lifted its holdings in MGE Energy by 307.8% in the fourth quarter. Susquehanna International Group LLP now owns 78,843 shares of the utilities provider's stock worth $7,408,000 after buying an additional 59,510 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in MGE Energy in the fourth quarter worth about $4,556,000. 52.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MGEE has been the subject of several research analyst reports. LADENBURG THALM/SH SH upgraded shares of MGE Energy to a "strong sell" rating in a report on Friday, May 9th. 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 report on Thursday, May 22nd. Finally, Wall Street Zen lowered shares of MGE Energy from a "buy" rating to a "hold" rating in a report on Saturday, July 26th.

MGE Energy Stock Down 0.9%

Shares of MGEE stock traded down $0.74 during trading hours on Friday, hitting $83.87. 20,221 shares of the company's stock traded hands, compared to its average volume of 147,983. The stock's fifty day simple moving average is $87.07 and its two-hundred day simple moving average is $89.44. MGE Energy Inc. has a 12-month low of $82.21 and a 12-month high of $109.22. The stock has a market cap of $3.06 billion, a price-to-earnings ratio of 23.34 and a beta of 0.76. 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 released 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). MGE Energy had a net margin of 18.24% and a return on equity of 10.58%. The business had revenue of $159.45 million for the quarter. On average, analysts expect that MGE Energy Inc. will post 3.43 EPS for the current year.

MGE Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Friday, May 30th. MGE Energy's dividend payout ratio (DPR) is presently 50.00%.

About MGE Energy

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.