Creative Planning Increases Stock Position in MGE Energy Inc. $MGEE

Creative Planning boosted its holdings in MGE Energy Inc. (NASDAQ:MGEE) by 23.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,776 shares of the utilities provider’s stock after acquiring an additional 1,834 shares during the quarter. Creative Planning’s holdings in MGE Energy were worth $865,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of MGEE. Hilltop National Bank bought a new position in shares of MGE Energy during the second quarter valued at $41,000. Private Trust Co. NA bought a new position in MGE Energy during the 2nd quarter valued at about $45,000. Thurston Springer Miller Herd & Titak Inc. lifted its stake in MGE Energy by 47.3% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 526 shares of the utilities provider’s stock valued at $47,000 after acquiring an additional 169 shares during the period. eCIO Inc. purchased a new stake in shares of MGE Energy during the 1st quarter valued at about $53,000. Finally, Allworth Financial LP grew its stake in shares of MGE Energy by 2,430.0% in the second quarter. Allworth Financial LP now owns 1,518 shares of the utilities provider’s stock worth $134,000 after acquiring an additional 1,458 shares during the period. Institutional investors own 52.58% of the company’s stock.

Analyst Ratings Changes

MGEE has been the topic of a number of research analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of MGE Energy in a research report on Tuesday, November 25th. LADENBURG THALM/SH SH raised MGE Energy from a “sell” rating to a “neutral” rating and increased their price target for the company from $69.00 to $83.00 in a report on Thursday, September 11th. Finally, Morgan Stanley restated an “underweight” rating on shares of MGE Energy in a research note on Wednesday, October 22nd. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, MGE Energy presently has an average rating of “Reduce” and a consensus target price of $79.00.

MGE Energy Price Performance

MGEE stock opened at $80.13 on Tuesday. The company’s fifty day moving average price is $83.63 and its 200-day moving average price is $85.79. MGE Energy Inc. has a one year low of $79.95 and a one year high of $105.81. The company has a market capitalization of $2.93 billion, a PE ratio of 22.26 and a beta of 0.81. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.20 and a current ratio of 1.80.

MGE Energy (NASDAQ:MGEE) last issued its quarterly earnings data on Wednesday, November 5th. The utilities provider reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.03. The firm had revenue of $175.68 million during the quarter. MGE Energy had a return on equity of 10.58% and a net margin of 18.24%. On average, equities analysts anticipate that MGE Energy Inc. will post 3.43 EPS for the current fiscal year.

MGE Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a dividend of $0.475 per share. The ex-dividend date is Monday, December 1st. This represents a $1.90 annualized dividend and a yield of 2.4%. MGE Energy’s dividend payout ratio (DPR) is 51.49%.

MGE Energy Company 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.