Rhumbline Advisers Cuts Holdings in MGE Energy, Inc. (NASDAQ:MGEE)

Rhumbline Advisers decreased its position in MGE Energy, Inc. (NASDAQ:MGEE) by 2.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 88,895 shares of the utilities provider’s stock after selling 1,838 shares during the period. Rhumbline Advisers owned about 0.24% of MGE Energy worth $8,264,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MGEE. Dimensional Fund Advisors LP grew its position in shares of MGE Energy by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 769,612 shares of the utilities provider’s stock valued at $72,314,000 after purchasing an additional 2,225 shares during the period. GAMMA Investing LLC grew its position in shares of MGE Energy by 9,697.0% in the first quarter. GAMMA Investing LLC now owns 456,248 shares of the utilities provider’s stock valued at $42,413,000 after purchasing an additional 451,591 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of MGE Energy by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 432,877 shares of the utilities provider’s stock valued at $40,673,000 after purchasing an additional 7,416 shares during the period. Northern Trust Corp grew its position in shares of MGE Energy by 6.7% in the fourth quarter. Northern Trust Corp now owns 393,127 shares of the utilities provider’s stock valued at $36,938,000 after purchasing an additional 24,605 shares during the period. Finally, Principal Financial Group Inc. grew its position in shares of MGE Energy by 4.1% in the fourth quarter. Principal Financial Group Inc. now owns 191,447 shares of the utilities provider’s stock valued at $17,988,000 after purchasing an additional 7,554 shares during the period. Hedge funds and other institutional investors own 52.58% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MGEE. LADENBURG THALM/SH SH upgraded shares of MGE Energy to a “strong sell” rating in a research report on Friday, May 9th. Morgan Stanley dropped their target price on shares of MGE Energy from $75.00 to $74.00 and set an “underweight” rating on the stock in a research report on Thursday, May 22nd.

MGE Energy Stock Performance

MGEE opened at $89.65 on Wednesday. The firm has a market capitalization of $3.28 billion, a PE ratio of 27.42 and a beta of 0.78. MGE Energy, Inc. has a twelve month low of $72.27 and a twelve month high of $109.22. The firm’s 50-day moving average price is $90.10 and its 200 day moving average price is $92.22. The company has a current ratio of 1.41, a quick ratio of 0.94 and a debt-to-equity ratio of 0.60.

MGE Energy (NASDAQ:MGEE) last posted its quarterly earnings results on Wednesday, May 7th. The utilities provider reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.16. The firm had revenue of $218.97 million for the quarter, compared to analyst estimates of $202.42 million. MGE Energy had a net margin of 17.70% and a return on equity of 10.18%. As a group, sell-side analysts expect that MGE Energy, Inc. will post 3.43 EPS for the current fiscal year.

MGE Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 15th. Investors of record on Sunday, June 1st will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.80 dividend on an annualized basis and a yield of 2.01%. MGE Energy’s payout ratio is presently 50.85%.

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.