Xponance Inc. Raises Stock Position in MGE Energy Inc. (NASDAQ:MGEE)

Xponance Inc. increased its position in shares of MGE Energy Inc. (NASDAQ:MGEE) by 5.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,725 shares of the utilities provider’s stock after buying an additional 131 shares during the period. Xponance Inc.’s holdings in MGE Energy were worth $253,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MGEE. Sterling Capital Management LLC increased its position in shares of MGE Energy by 656.2% in 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 last quarter. Focus Partners Wealth acquired a new position in shares of MGE Energy in the 4th quarter valued at about $116,000. EnRich Financial Partners LLC boosted its holdings in shares of MGE Energy by 8.7% in the 4th quarter. EnRich Financial Partners LLC now owns 1,744 shares of the utilities provider’s stock valued at $164,000 after buying an additional 139 shares during the period. Michael A. Dubis Financial Planning LLC acquired a new position in shares of MGE Energy in the 4th quarter valued at about $200,000. Finally, Benjamin Edwards Inc. acquired a new position in shares of MGE Energy in the 4th quarter valued at about $200,000. Hedge funds and other institutional investors own 52.58% of the company’s stock.

MGE Energy Stock Up 0.4%

MGEE stock opened at $85.89 on Friday. MGE Energy Inc. has a 1 year low of $82.76 and a 1 year high of $109.22. The company has a fifty day simple moving average of $89.11 and a 200 day simple moving average of $90.19. The company has a current ratio of 2.07, a quick ratio of 1.49 and a debt-to-equity ratio of 0.61. The firm has a market cap of $3.14 billion, a PE ratio of 24.26 and a beta of 0.76.

MGE Energy (NASDAQ:MGEE) last issued its quarterly earnings results on Wednesday, May 7th. The utilities provider reported $1.14 earnings per share for the quarter, beating 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. Sell-side analysts anticipate that MGE Energy Inc. will post 3.43 EPS for the current fiscal year.

MGE Energy Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MGEE. LADENBURG THALM/SH SH raised shares of MGE Energy to a “strong sell” rating in a research note on Friday, May 9th. Morgan Stanley reduced their target price on shares of MGE Energy from $75.00 to $74.00 and set an “underweight” rating for the company in a research note on Thursday, May 22nd. Finally, Wall Street Zen upgraded shares of MGE Energy from a “hold” rating to a “buy” rating in a research report on Friday.

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.