Teachers Advisors LLC Has $4.08 Million Holdings in MGE Energy Inc. (MGEE)
Teachers Advisors LLC decreased its position in MGE Energy Inc. (NASDAQ:MGEE) by 8.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 63,416 shares of the utilities provider’s stock after selling 5,800 shares during the period. Teachers Advisors LLC owned 0.18% of MGE Energy worth $4,081,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. BNP Paribas Arbitrage SA increased its stake in MGE Energy by 620.9% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 6,128 shares of the utilities provider’s stock valued at $394,000 after buying an additional 5,278 shares during the last quarter. Marshall Wace North America L.P. purchased a new stake in MGE Energy in the 2nd quarter valued at about $1,157,000. SVA Plumb Wealth Management LLC increased its stake in MGE Energy by 15.4% in the 2nd quarter. SVA Plumb Wealth Management LLC now owns 13,279 shares of the utilities provider’s stock valued at $855,000 after buying an additional 1,768 shares during the last quarter. Legal & General Group Plc increased its stake in MGE Energy by 10.0% in the 2nd quarter. Legal & General Group Plc now owns 31,665 shares of the utilities provider’s stock valued at $2,038,000 after buying an additional 2,880 shares during the last quarter. Finally, Prudential Financial Inc. increased its stake in MGE Energy by 85.7% in the 2nd quarter. Prudential Financial Inc. now owns 97,139 shares of the utilities provider’s stock valued at $6,250,000 after buying an additional 44,830 shares during the last quarter. Hedge funds and other institutional investors own 37.25% of the company’s stock.
In related news, insider Jeffrey M. Keebler acquired 547 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was purchased at an average cost of $64.02 per share, with a total value of $35,018.94. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is owned by insiders.
Shares of MGE Energy Inc. (MGEE) opened at 66.95 on Friday. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of 30.05 and a beta of 0.34. MGE Energy Inc. has a 1-year low of $55.05 and a 1-year high of $68.70. The firm has a 50-day moving average of $65.10 and a 200 day moving average of $65.07.
MGE Energy (NASDAQ:MGEE) last released its quarterly earnings data on Friday, August 4th. The utilities provider reported $0.45 earnings per share for the quarter. MGE Energy had a net margin of 13.82% and a return on equity of 10.60%. The firm had revenue of $126.46 million during the quarter. Equities research analysts forecast that MGE Energy Inc. will post $2.30 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were issued a dividend of $0.3225 per share. This represents a $1.29 annualized dividend and a dividend yield of 1.93%. This is a boost from MGE Energy’s previous quarterly dividend of $0.31. The ex-dividend date was Wednesday, August 30th. MGE Energy’s payout ratio is presently 57.85%.
MGEE has been the subject of several analyst reports. BidaskClub lowered shares of MGE Energy from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th. Zacks Investment Research lowered shares of MGE Energy from a “hold” rating to a “sell” rating in a research note on Friday, July 14th.
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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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