Yousif Capital Management LLC Has $1.20 Million Stake in MGE Energy Inc. $MGEE

Yousif Capital Management LLC lifted its stake in shares of MGE Energy Inc. (NASDAQ:MGEE) by 2.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,618 shares of the utilities provider’s stock after buying an additional 267 shares during the quarter. Yousif Capital Management LLC’s holdings in MGE Energy were worth $1,204,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC grew its position in shares of MGE Energy by 5.4% during the 1st quarter. GAMMA Investing LLC now owns 4,908 shares of the utilities provider’s stock worth $456,000 after buying an additional 251 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of MGE Energy by 45.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,220 shares of the utilities provider’s stock worth $764,000 after buying an additional 2,560 shares during the period. SG Americas Securities LLC acquired a new stake in shares of MGE Energy during the 1st quarter worth approximately $332,000. XTX Topco Ltd acquired a new stake in shares of MGE Energy during the 1st quarter worth approximately $306,000. Finally, Intech Investment Management LLC grew its position in MGE Energy by 43.9% in the 1st quarter. Intech Investment Management LLC now owns 20,777 shares of the utilities provider’s stock valued at $1,931,000 after purchasing an additional 6,341 shares during the period. Institutional investors and hedge funds own 52.58% of the company’s stock.

MGE Energy Price Performance

MGEE opened at $85.70 on Wednesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.80 and a quick ratio of 1.20. The company has a market capitalization of $3.13 billion, a price-to-earnings ratio of 23.81 and a beta of 0.79. The firm’s fifty day moving average price is $84.48 and its two-hundred day moving average price is $87.20. MGE Energy Inc. has a 1 year low of $81.14 and a 1 year high of $109.22.

MGE Energy (NASDAQ:MGEE) last posted its quarterly earnings data 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 firm 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%. As a group, analysts anticipate that MGE Energy Inc. will post 3.43 earnings per share for the current fiscal year.

MGE Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Monday, December 1st. MGE Energy’s payout ratio is currently 52.78%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MGEE. Weiss Ratings downgraded shares of MGE Energy from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, October 8th. Morgan Stanley reduced their price target on shares of MGE Energy from $76.00 to $75.00 and set an “underweight” rating for the company in a research report on Thursday, September 25th. 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, 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 report on Thursday, September 11th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $79.00.

Insider Transactions at MGE Energy

In other news, Director James G. Berbee acquired 507 shares of the business’s stock in a transaction on Friday, August 15th. The shares were purchased at an average cost of $83.83 per share, with a total value of $42,501.81. Following the acquisition, the director directly owned 6,329 shares of the company’s stock, valued at $530,560.07. The trade was a 8.71% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.19% of the stock is owned by corporate insiders.

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.