Teacher Retirement System of Texas Sells 7,260 Shares of MGE Energy Inc. (NASDAQ:MGEE)

Teacher Retirement System of Texas cut its stake in shares of MGE Energy Inc. (NASDAQ:MGEE) by 57.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,293 shares of the utilities provider’s stock after selling 7,260 shares during the quarter. Teacher Retirement System of Texas’ holdings in MGE Energy were worth $492,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sterling Capital Management LLC increased its holdings in MGE Energy by 656.2% during the 4th quarter. Sterling Capital Management LLC now owns 673 shares of the utilities provider’s stock worth $63,000 after purchasing an additional 584 shares during the period. Focus Partners Wealth purchased a new stake in shares of MGE Energy in the 4th quarter worth $116,000. Farther Finance Advisors LLC lifted its holdings in shares of MGE Energy by 7,321.7% in the 4th quarter. Farther Finance Advisors LLC now owns 1,707 shares of the utilities provider’s stock worth $160,000 after buying an additional 1,684 shares during the period. EnRich Financial Partners LLC grew its position in shares of MGE Energy by 8.7% during the 4th quarter. EnRich Financial Partners LLC now owns 1,744 shares of the utilities provider’s stock worth $164,000 after buying an additional 139 shares in the last quarter. Finally, Michael A. Dubis Financial Planning LLC purchased a new position in shares of MGE Energy during the fourth quarter valued at $200,000. Institutional investors own 52.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. LADENBURG THALM/SH SH upgraded MGE Energy to a “strong sell” rating in a report on Friday, May 9th. Morgan Stanley cut 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

Shares of MGEE stock opened at $85.82 on Thursday. The firm has a market cap of $3.14 billion, a price-to-earnings ratio of 24.24 and a beta of 0.76. MGE Energy Inc. has a 52-week low of $82.70 and a 52-week high of $109.22. The company has a quick ratio of 1.49, a current ratio of 2.07 and a debt-to-equity ratio of 0.61. The company’s 50 day moving average is $89.31 and its 200 day moving average is $90.33.

MGE Energy (NASDAQ:MGEE) last announced its quarterly earnings results on Wednesday, May 7th. The utilities provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.16. The business had revenue of $218.97 million for the quarter, compared to the consensus estimate of $202.42 million. MGE Energy had a return on equity of 10.58% and a net margin of 18.22%. On average, sell-side analysts anticipate that MGE Energy Inc. will post 3.43 EPS for the current fiscal year.

MGE Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, June 15th. Shareholders of record on Sunday, June 1st were paid a $0.45 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.80 annualized dividend and a yield of 2.10%. MGE Energy’s dividend payout ratio (DPR) is presently 50.85%.

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.