Osaic Holdings Inc. Has $2.79 Million Stock Position in MGE Energy Inc. $MGEE

Osaic Holdings Inc. raised its position in shares of MGE Energy Inc. (NASDAQ:MGEE) by 84.4% in the second quarter, according to its most recent filing with the SEC. The firm owned 31,499 shares of the utilities provider’s stock after purchasing an additional 14,415 shares during the quarter. Osaic Holdings Inc. owned approximately 0.09% of MGE Energy worth $2,786,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC increased its position in shares of MGE Energy by 1.8% during the second quarter. Geode Capital Management LLC now owns 912,735 shares of the utilities provider’s stock worth $80,737,000 after buying an additional 15,762 shares during the period. First Trust Advisors LP boosted its position in MGE Energy by 407.1% during the second quarter. First Trust Advisors LP now owns 499,950 shares of the utilities provider’s stock valued at $44,216,000 after acquiring an additional 401,361 shares during the last quarter. Northern Trust Corp grew its holdings in MGE Energy by 0.3% during the 1st quarter. Northern Trust Corp now owns 394,414 shares of the utilities provider’s stock worth $36,665,000 after acquiring an additional 1,287 shares during the period. Bank of New York Mellon Corp raised its position in shares of MGE Energy by 1.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 350,726 shares of the utilities provider’s stock worth $31,018,000 after acquiring an additional 4,599 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in shares of MGE Energy by 14.3% in the 2nd quarter. Invesco Ltd. now owns 238,747 shares of the utilities provider’s stock valued at $21,115,000 after purchasing an additional 29,811 shares during the period. Institutional investors and hedge funds own 52.58% of the company’s stock.

MGE Energy Stock Down 0.4%

MGEE stock opened at $78.35 on Friday. The stock’s 50 day simple moving average is $81.94 and its 200 day simple moving average is $84.42. The company has a market cap of $2.86 billion, a P/E ratio of 21.23 and a beta of 0.83. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.59 and a current ratio of 0.91. MGE Energy Inc. has a fifty-two week low of $77.46 and a fifty-two week high of $96.25.

MGE Energy (NASDAQ:MGEE) last released its quarterly earnings data on Wednesday, November 5th. The utilities provider reported $1.22 EPS for the quarter, beating the consensus estimate of $1.19 by $0.03. MGE Energy had a return on equity of 10.65% and a net margin of 18.55%.The firm had revenue of $175.68 million during the quarter. On average, research analysts expect that MGE Energy Inc. will post 3.43 earnings per share for the current fiscal year.

MGE Energy Dividend Announcement

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

Wall Street Analysts Forecast Growth

MGEE has been the topic of several research analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of MGE Energy in a research report on Monday. Morgan Stanley restated an “underweight” rating on shares of MGE Energy in a report on Wednesday, October 22nd. Finally, LADENBURG THALM/SH SH raised shares of MGE Energy from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $69.00 to $83.00 in a research report on Thursday, September 11th. 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, the stock presently has an average rating of “Reduce” and a consensus price target of $79.00.

About MGE Energy

MGE Energy, Inc is a public utility holding company headquartered in Madison, Wisconsin. Through its principal subsidiary, Madison Gas and Electric Company (MGE), the company provides regulated electric and natural gas distribution services to residential, commercial and industrial customers in south-central Wisconsin. MGE Energy’s operations encompass the generation, transmission and distribution of electricity as well as the purchase and distribution of natural gas, with an emphasis on reliable service and system resilience.

Since reorganizing as a holding company in 2001, MGE Energy has expanded its portfolio to include nonregulated subsidiaries involved in renewable energy development, energy services and infrastructure support.