MGE Energy Inc. (NASDAQ:MGEE) Holdings Reduced by Cerity Partners LLC

Cerity Partners LLC decreased its position in MGE Energy Inc. (NASDAQ:MGEE) by 16.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,472 shares of the utilities provider’s stock after selling 1,078 shares during the period. Cerity Partners LLC’s holdings in MGE Energy were worth $509,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its position in MGE Energy by 0.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 769,612 shares of the utilities provider’s stock valued at $72,314,000 after buying an additional 2,225 shares in the last quarter. GAMMA Investing LLC grew its position in MGE Energy by 9,697.0% in the 1st quarter. GAMMA Investing LLC now owns 456,248 shares of the utilities provider’s stock valued at $42,413,000 after buying an additional 451,591 shares in the last quarter. Northern Trust Corp grew its position in MGE Energy by 6.7% in the 4th quarter. Northern Trust Corp now owns 393,127 shares of the utilities provider’s stock valued at $36,938,000 after buying an additional 24,605 shares in the last quarter. Principal Financial Group Inc. grew its position in MGE Energy by 2.5% in the 1st quarter. Principal Financial Group Inc. now owns 196,183 shares of the utilities provider’s stock valued at $18,237,000 after buying an additional 4,736 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in MGE Energy by 145.0% in the 4th quarter. JPMorgan Chase & Co. now owns 146,008 shares of the utilities provider’s stock valued at $13,719,000 after buying an additional 86,423 shares in the last quarter. Institutional investors own 52.58% of the company’s stock.

MGE Energy Stock Performance

NASDAQ:MGEE opened at $86.53 on Friday. MGE Energy Inc. has a twelve month low of $82.90 and a twelve month high of $109.22. 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 company has a 50-day moving average of $88.73 and a 200-day moving average of $90.04. The firm has a market cap of $3.16 billion, a price-to-earnings ratio of 24.44 and a beta of 0.76.

MGE Energy (NASDAQ:MGEE) last posted its quarterly earnings data on Wednesday, May 7th. The utilities provider reported $1.14 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.16. MGE Energy had a net margin of 18.22% and a return on equity of 10.58%. The company had revenue of $218.97 million during the quarter, compared to analyst estimates of $202.42 million. Analysts forecast that MGE Energy Inc. will post 3.43 earnings per share for the current fiscal year.

MGE Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st were given a dividend of $0.45 per share. The ex-dividend date was Friday, May 30th. This represents a $1.80 annualized dividend and a dividend yield of 2.08%. MGE Energy’s dividend payout ratio (DPR) is 50.85%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on MGEE shares. Morgan Stanley decreased 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 report on Thursday, May 22nd. LADENBURG THALM/SH SH upgraded shares of MGE Energy to a “strong sell” rating in a research report on Friday, May 9th. Finally, Wall Street Zen lowered shares of MGE Energy from a “buy” rating to a “hold” rating in a research report on Saturday.

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.