MGE Energy Inc. (MGEE) Holdings Boosted by GSA Capital Partners LLP
GSA Capital Partners LLP grew its holdings in MGE Energy Inc. (NASDAQ:MGEE) by 115.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 18,949 shares of the utilities provider’s stock after purchasing an additional 10,162 shares during the quarter. GSA Capital Partners LLP owned about 0.05% of MGE Energy worth $1,219,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of MGEE. Prudential Financial Inc. boosted its stake in MGE Energy by 85.7% in the second quarter. Prudential Financial Inc. now owns 97,139 shares of the utilities provider’s stock worth $6,250,000 after purchasing an additional 44,830 shares in the last quarter. Marshall Wace North America L.P. acquired a new position in MGE Energy in the second quarter worth $1,157,000. Wells Fargo & Company MN boosted its stake in MGE Energy by 15.4% in the second quarter. Wells Fargo & Company MN now owns 72,807 shares of the utilities provider’s stock worth $4,686,000 after purchasing an additional 9,692 shares in the last quarter. TIAA CREF Investment Management LLC boosted its stake in MGE Energy by 7.3% in the second quarter. TIAA CREF Investment Management LLC now owns 101,722 shares of the utilities provider’s stock worth $6,546,000 after purchasing an additional 6,927 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in MGE Energy by 45.7% in the second quarter. Principal Financial Group Inc. now owns 17,753 shares of the utilities provider’s stock worth $1,143,000 after purchasing an additional 5,566 shares in the last quarter. 37.25% of the stock is currently owned by institutional investors.
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MGEE has been the topic of a number of recent analyst reports. Zacks Investment Research lowered MGE Energy from a “hold” rating to a “sell” rating in a research note on Friday, July 14th. BidaskClub lowered MGE Energy from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th.
MGE Energy Inc. (NASDAQ:MGEE) opened at 66.05 on Thursday. The firm has a 50-day moving average price of $64.79 and a 200-day moving average price of $64.69. MGE Energy Inc. has a 1-year low of $53.48 and a 1-year high of $68.70. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of 29.65 and a beta of 0.36.
MGE Energy (NASDAQ:MGEE) last issued 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 return on equity of 10.60% and a net margin of 13.82%. 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 fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were given a dividend of $0.3225 per share. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $1.29 dividend on an annualized basis and a yield of 1.95%. This is a positive change from MGE Energy’s previous quarterly dividend of $0.31. MGE Energy’s payout ratio is currently 57.85%.
In related news, insider Jeffrey M. Keebler bought 547 shares of the business’s stock in a transaction on Tuesday, September 5th. The shares were purchased at an average cost of $64.02 per share, with a total value of $35,018.94. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.20% of the company’s stock.
About MGE Energy
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).
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