MGE Energy Inc. $MGEE Shares Sold by IFM Investors Pty Ltd

IFM Investors Pty Ltd cut its holdings in MGE Energy Inc. (NASDAQ:MGEE) by 45.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,610 shares of the utilities provider’s stock after selling 2,201 shares during the quarter. IFM Investors Pty Ltd’s holdings in MGE Energy were worth $243,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Focus Partners Wealth acquired a new stake in shares of MGE Energy in the fourth quarter valued at approximately $116,000. MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of MGE Energy in the first quarter valued at approximately $139,000. Twinbeech Capital LP acquired a new stake in shares of MGE Energy in the fourth quarter valued at approximately $209,000. Occudo Quantitative Strategies LP purchased a new position in shares of MGE Energy during the fourth quarter valued at approximately $211,000. Finally, United Services Automobile Association purchased a new position in shares of MGE Energy during the first quarter valued at approximately $220,000. 52.58% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other MGE Energy news, Director James G. Berbee bought 507 shares of the business’s stock in a transaction dated Friday, August 15th. The shares were acquired at an average price of $83.83 per share, with a total value of $42,501.81. Following the purchase, the director owned 6,329 shares in the company, valued at approximately $530,560.07. The trade was a 8.71% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.19% of the stock is currently owned by corporate insiders.

MGE Energy Stock Performance

NASDAQ:MGEE opened at $84.26 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.80 and a debt-to-equity ratio of 0.60. The company has a market cap of $3.08 billion, a P/E ratio of 23.41 and a beta of 0.80. MGE Energy Inc. has a fifty-two week low of $82.21 and a fifty-two week high of $109.22. The firm’s 50 day moving average is $85.44 and its two-hundred day moving average is $88.66.

MGE Energy (NASDAQ:MGEE) last posted its quarterly earnings results on Wednesday, August 6th. The utilities provider reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). The company had revenue of $159.45 million for the quarter. MGE Energy had a return on equity of 10.58% and a net margin of 18.24%. Analysts expect that MGE Energy Inc. will post 3.43 EPS for the current year.

MGE Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 1st will be paid a dividend of $0.475 per share. This is an increase from MGE Energy’s previous quarterly dividend of $0.45. This represents a $1.90 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Friday, August 29th. MGE Energy’s payout ratio is 52.78%.

Analyst Ratings Changes

Several brokerages recently issued reports on MGEE. LADENBURG THALM/SH SH raised shares of MGE Energy from a “sell” rating to a “neutral” rating and upped their price objective for the company from $69.00 to $83.00 in a research note on Thursday. Morgan Stanley reissued an “underweight” rating on shares of MGE Energy in a research note on Thursday, August 21st. Finally, Wall Street Zen downgraded shares of MGE Energy from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, MGE Energy has a consensus rating of “Reduce” and a consensus price target of $78.50.

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.