Fifth Third Bancorp Buys 20,177 Shares of MGE Energy Inc. $MGEE

Fifth Third Bancorp increased its stake in MGE Energy Inc. (NASDAQ:MGEE) by 27,266.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,251 shares of the utilities provider’s stock after purchasing an additional 20,177 shares during the period. Fifth Third Bancorp owned 0.06% of MGE Energy worth $1,565,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of MGEE. Hantz Financial Services Inc. lifted its stake in shares of MGE Energy by 63.8% during the fourth quarter. Hantz Financial Services Inc. now owns 416 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 162 shares during the period. Advisory Services Network LLC acquired a new stake in MGE Energy in the third quarter worth about $40,000. eCIO Inc. bought a new stake in MGE Energy during the 4th quarter worth about $45,000. Parallel Advisors LLC raised its holdings in MGE Energy by 28.6% during the 3rd quarter. Parallel Advisors LLC now owns 714 shares of the utilities provider’s stock worth $60,000 after purchasing an additional 159 shares during the last quarter. Finally, Covestor Ltd raised its holdings in MGE Energy by 84.5% during the 4th quarter. Covestor Ltd now owns 878 shares of the utilities provider’s stock worth $69,000 after purchasing an additional 402 shares during the last quarter. Institutional investors own 52.58% of the company’s stock.

MGE Energy Stock Performance

Shares of MGEE stock opened at $82.40 on Friday. The stock has a market cap of $3.03 billion, a PE ratio of 21.13 and a beta of 0.71. The stock has a 50-day moving average of $78.34 and a 200-day moving average of $78.57. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.15 and a quick ratio of 0.83. MGE Energy Inc. has a one year low of $72.16 and a one year high of $88.01.

MGE Energy (NASDAQ:MGEE) last released its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.19. The business had revenue of $242.70 million for the quarter, compared to analyst estimates of $227.06 million. MGE Energy had a net margin of 18.61% and a return on equity of 10.94%. As a group, sell-side analysts expect that MGE Energy Inc. will post 3.99 earnings per share for the current year.

MGE Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Monday, June 1st. MGE Energy’s dividend payout ratio (DPR) is currently 48.72%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on MGEE shares. LADENBURG THALM/SH SH raised shares of MGE Energy from a “neutral” rating to a “buy” rating and set a $81.00 target price on the stock in a research note on Monday, June 8th. Weiss Ratings reissued a “hold (c)” rating on shares of MGE Energy in a research note on Friday, May 8th. Finally, Morgan Stanley restated an “underweight” rating and issued a $76.00 price objective on shares of MGE Energy in a report on Wednesday. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $78.50.

MGE Energy Profile

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.