Nisa Investment Advisors LLC Purchases 279 Shares of MGE Energy Inc. (NASDAQ:MGEE)

Nisa Investment Advisors LLC boosted its stake in MGE Energy Inc. (NASDAQ:MGEE) by 12.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,508 shares of the utilities provider’s stock after purchasing an additional 279 shares during the quarter. Nisa Investment Advisors LLC’s holdings in MGE Energy were worth $233,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of MGEE. Raymond James Financial Inc. purchased a new position in shares of MGE Energy in the fourth quarter worth $781,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of MGE Energy by 14.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,556 shares of the utilities provider’s stock worth $804,000 after buying an additional 1,048 shares in the last quarter. HighTower Advisors LLC raised its position in MGE Energy by 3.4% during the fourth quarter. HighTower Advisors LLC now owns 7,266 shares of the utilities provider’s stock valued at $683,000 after purchasing an additional 236 shares during the period. Farther Finance Advisors LLC raised its position in MGE Energy by 7,321.7% during the fourth quarter. Farther Finance Advisors LLC now owns 1,707 shares of the utilities provider’s stock valued at $160,000 after purchasing an additional 1,684 shares during the period. Finally, Swiss National Bank raised its holdings in shares of MGE Energy by 0.7% in the fourth quarter. Swiss National Bank now owns 71,150 shares of the utilities provider’s stock worth $6,685,000 after buying an additional 500 shares during the period. Hedge funds and other institutional investors own 52.58% of the company’s stock.

MGE Energy Stock Down 0.3%

MGEE stock opened at $85.53 on Friday. The firm has a market cap of $3.13 billion, a PE ratio of 24.16 and a beta of 0.76. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.49 and a current ratio of 2.07. The firm’s 50 day moving average price is $89.21 and its 200-day moving average price is $90.27. MGE Energy Inc. has a one year low of $82.76 and a one year high of $109.22.

MGE Energy (NASDAQ:MGEE) last issued its earnings results on Wednesday, May 7th. The utilities provider reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.16. MGE Energy had a net margin of 18.22% and a return on equity of 10.58%. The firm had revenue of $218.97 million during the quarter, compared to the consensus estimate of $202.42 million. On average, equities research analysts anticipate that MGE Energy Inc. will post 3.43 EPS for the current year.

MGE Energy Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on MGEE. LADENBURG THALM/SH SH raised MGE Energy to a “strong sell” rating in a research report on Friday, May 9th. Morgan Stanley reduced their price objective on MGE Energy from $75.00 to $74.00 and set an “underweight” rating for the company in a research note on Thursday, May 22nd.

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.