Gabelli Funds LLC Has $21.26 Million Stock Holdings in MGE Energy, Inc. (NASDAQ:MGEE)

Gabelli Funds LLC trimmed its position in shares of MGE Energy, Inc. (NASDAQ:MGEE) by 11.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 284,500 shares of the utilities provider’s stock after selling 38,000 shares during the period. Gabelli Funds LLC owned approximately 0.79% of MGE Energy worth $21,258,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its stake in shares of MGE Energy by 0.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 759,044 shares of the utilities provider’s stock valued at $54,887,000 after buying an additional 7,085 shares in the last quarter. Neuberger Berman Group LLC acquired a new position in MGE Energy in the fourth quarter worth about $213,000. Eaton Financial Holdings Company LLC raised its position in MGE Energy by 8.9% in the fourth quarter. Eaton Financial Holdings Company LLC now owns 10,325 shares of the utilities provider’s stock worth $747,000 after purchasing an additional 842 shares in the last quarter. TD Asset Management Inc lifted its stake in MGE Energy by 6.4% during the fourth quarter. TD Asset Management Inc now owns 20,008 shares of the utilities provider’s stock worth $1,447,000 after purchasing an additional 1,200 shares during the period. Finally, Magellan Asset Management Ltd boosted its holdings in MGE Energy by 2.4% during the fourth quarter. Magellan Asset Management Ltd now owns 26,485 shares of the utilities provider’s stock valued at $1,915,000 after purchasing an additional 623 shares in the last quarter. Institutional investors and hedge funds own 52.58% of the company’s stock.

MGE Energy Price Performance

Shares of MGE Energy stock opened at $91.47 on Monday. MGE Energy, Inc. has a 1-year low of $61.94 and a 1-year high of $93.15. The firm’s 50-day moving average price is $86.55 and its two-hundred day moving average price is $80.78. The company has a current ratio of 1.32, a quick ratio of 0.90 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $3.31 billion, a price-to-earnings ratio of 27.55 and a beta of 0.70.

MGE Energy (NASDAQ:MGEE) last released its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.29). The business had revenue of $145.71 million for the quarter, compared to analyst estimates of $151.29 million. MGE Energy had a net margin of 17.45% and a return on equity of 10.04%. On average, equities analysts predict that MGE Energy, Inc. will post 3.69 earnings per share for the current fiscal year.

MGE Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 15th. Investors of record on Sunday, September 1st were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.97%. This is a boost from MGE Energy’s previous quarterly dividend of $0.43. The ex-dividend date was Friday, August 30th. MGE Energy’s payout ratio is currently 54.22%.

Wall Street Analyst Weigh In

Several research firms recently commented on MGEE. StockNews.com upgraded MGE Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, May 29th. Morgan Stanley lifted their price objective on MGE Energy from $66.00 to $71.00 and gave the company an “underweight” rating in a report on Friday, August 23rd.

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.