Voya Investment Management LLC Sells 1,121 Shares of MGE Energy Inc. $MGEE

Voya Investment Management LLC lowered its holdings in shares of MGE Energy Inc. (NASDAQ:MGEE) by 10.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 9,927 shares of the utilities provider’s stock after selling 1,121 shares during the period. Voya Investment Management LLC’s holdings in MGE Energy were worth $923,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of MGEE. eCIO Inc. bought a new stake in MGE Energy in the first quarter valued at $53,000. MJT & Associates Financial Advisory Group Inc. bought a new stake in MGE Energy in the first quarter valued at $139,000. Focus Partners Wealth increased its stake in MGE Energy by 84.9% in the first quarter. Focus Partners Wealth now owns 2,291 shares of the utilities provider’s stock valued at $213,000 after purchasing an additional 1,052 shares in the last quarter. United Services Automobile Association bought a new stake in MGE Energy in the first quarter valued at $220,000. Finally, Entropy Technologies LP bought a new stake in MGE Energy in the first quarter valued at $232,000. Institutional investors own 52.58% of the company’s stock.

MGE Energy Stock Down 0.5%

MGEE opened at $84.03 on Thursday. 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 stock has a market cap of $3.07 billion, a price-to-earnings ratio of 23.34 and a beta of 0.80. MGE Energy Inc. has a twelve month low of $82.21 and a twelve month high of $109.22. The company’s 50-day moving average price is $84.95 and its two-hundred day moving average price is $88.30.

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

MGE Energy Increases Dividend

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

Insider Activity at MGE Energy

In other MGE Energy news, Director James G. Berbee bought 507 shares of MGE Energy stock in a transaction that occurred on Friday, August 15th. The shares were bought at an average price of $83.83 per share, with a total value of $42,501.81. Following the acquisition, the director owned 6,329 shares in the company, valued at approximately $530,560.07. This trade represents a 8.71% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on MGEE. LADENBURG THALM/SH SH raised shares of MGE Energy from a “sell” rating to a “neutral” rating and lifted their price target for the company from $69.00 to $83.00 in a research note on Thursday, September 11th. Morgan Stanley reaffirmed 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 equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average 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.