Martingale Asset Management L P cut its holdings in MGE Energy Inc. (NASDAQ:MGEE) by 0.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 95,110 shares of the utilities provider’s stock after selling 200 shares during the quarter. Martingale Asset Management L P owned about 0.27% of MGE Energy worth $6,121,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of MGEE. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in MGE Energy by 10.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,568 shares of the utilities provider’s stock valued at $101,000 after purchasing an additional 154 shares during the period. Strs Ohio increased its stake in MGE Energy by 6.3% in the second quarter. Strs Ohio now owns 3,400 shares of the utilities provider’s stock valued at $218,000 after purchasing an additional 200 shares during the period. BNP Paribas Arbitrage SA increased its stake in MGE Energy by 620.9% in the second quarter. BNP Paribas Arbitrage SA now owns 6,128 shares of the utilities provider’s stock valued at $394,000 after purchasing an additional 5,278 shares during the period. Russell Investments Group Ltd. increased its stake in MGE Energy by 146.3% in the second quarter. Russell Investments Group Ltd. now owns 8,102 shares of the utilities provider’s stock valued at $522,000 after purchasing an additional 4,812 shares during the period. Finally, Virginia Retirement Systems ET AL increased its stake in MGE Energy by 28.9% in the second quarter. Virginia Retirement Systems ET AL now owns 12,500 shares of the utilities provider’s stock valued at $804,000 after purchasing an additional 2,800 shares during the period. Institutional investors own 37.47% of the company’s stock.

MGE Energy Inc. (NASDAQ:MGEE) opened at 64.45 on Wednesday. The firm has a 50-day moving average of $64.99 and a 200-day moving average of $64.65. MGE Energy Inc. has a 1-year low of $53.48 and a 1-year high of $68.70. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of 28.93 and a beta of 0.36.

MGE Energy (NASDAQ:MGEE) last posted its quarterly earnings results on Friday, August 4th. The utilities provider reported $0.45 earnings per share (EPS) for the quarter. MGE Energy had a net margin of 13.82% and a return on equity of 10.60%. The company had revenue of $126.46 million for the quarter. On average, analysts expect that MGE Energy Inc. will post $2.30 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be given a $0.3225 dividend. This is an increase from MGE Energy’s previous quarterly dividend of $0.31. This represents a $1.29 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Wednesday, August 30th. MGE Energy’s dividend payout ratio (DPR) is presently 57.85%.

In other MGE Energy news, insider Jeffrey M. Keebler purchased 547 shares of MGE Energy stock in a transaction dated Tuesday, September 5th. The shares were bought at an average cost of $64.02 per share, for a total transaction of $35,018.94. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.20% of the company’s stock.

A number of research analysts have commented on MGEE shares. BidaskClub upgraded shares of MGE Energy from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th. Zacks Investment Research upgraded shares of MGE Energy from a “sell” rating to a “hold” rating in a research note on Thursday, September 7th.

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MGE Energy Company Profile

MGE Energy, Inc (MGE) is a public utility holding company. The Company operates through five segments: Regulated electric utility operations; Regulated gas utility operations; Nonregulated energy operations; Transmission investments, and All other. The Regulated electric utility operations segment is engaged in generating, purchasing and distributing electricity through Madison Gas and Electric Company (MGE).

Institutional Ownership by Quarter for MGE Energy (NASDAQ:MGEE)

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