MGE Energy Inc. (NASDAQ:MGEE) Shares Purchased by Cetera Investment Advisers

Cetera Investment Advisers increased its holdings in shares of MGE Energy Inc. (NASDAQ:MGEE) by 7.0% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 29,173 shares of the utilities provider’s stock after purchasing an additional 1,905 shares during the quarter. Cetera Investment Advisers owned 0.08% of MGE Energy worth $2,712,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sterling Capital Management LLC increased its position 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 in the last quarter. Focus Partners Wealth acquired a new stake in MGE Energy during the 4th quarter worth approximately $116,000. EnRich Financial Partners LLC grew its position in MGE Energy by 8.7% in the fourth quarter. EnRich Financial Partners LLC now owns 1,744 shares of the utilities provider’s stock valued at $164,000 after acquiring an additional 139 shares in the last quarter. Benjamin Edwards Inc. acquired a new stake in MGE Energy in the fourth quarter valued at approximately $200,000. Finally, Twinbeech Capital LP acquired a new stake in MGE Energy in the fourth quarter valued at approximately $209,000. Institutional investors and hedge funds own 52.58% of the company’s stock.

MGE Energy Stock Down 0.8%

Shares of NASDAQ:MGEE opened at $83.89 on Thursday. MGE Energy Inc. has a 52-week low of $82.21 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 has a market capitalization of $3.07 billion, a price-to-earnings ratio of 23.70 and a beta of 0.76. The company has a 50 day moving average of $87.72 and a two-hundred day moving average of $89.65.

MGE Energy (NASDAQ:MGEE) last released 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. MGE Energy had a net margin of 18.22% and a return on equity of 10.58%. The business had revenue of $218.97 million during the quarter, compared to the consensus estimate of $202.42 million. As a group, analysts forecast that MGE Energy Inc. will post 3.43 earnings per share for the current fiscal year.

MGE Energy Announces Dividend

The business also recently declared 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 of this dividend was Friday, May 30th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. MGE Energy’s dividend payout ratio (DPR) is presently 50.85%.

Analyst Upgrades and Downgrades

MGEE has been the subject of several recent research reports. LADENBURG THALM/SH SH raised shares of MGE Energy to a “strong sell” rating in a research report on Friday, May 9th. Wall Street Zen downgraded shares of MGE Energy from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, Morgan Stanley lowered their price objective 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.

MGE Energy 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.