Los Angeles Capital Management LLC Purchases Shares of 5,361 MGE Energy Inc. $MGEE

Los Angeles Capital Management LLC acquired a new position in MGE Energy Inc. (NASDAQ:MGEE) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 5,361 shares of the utilities provider’s stock, valued at approximately $474,000.

Several other large investors have also modified their holdings of the company. Nuveen LLC acquired a new position in MGE Energy in the 1st quarter valued at $20,910,000. Invesco Ltd. boosted its holdings in MGE Energy by 49.4% during the first quarter. Invesco Ltd. now owns 208,936 shares of the utilities provider’s stock valued at $19,423,000 after acquiring an additional 69,084 shares during the period. Jane Street Group LLC boosted its holdings in MGE Energy by 718.5% during the first quarter. Jane Street Group LLC now owns 75,007 shares of the utilities provider’s stock valued at $6,973,000 after acquiring an additional 65,843 shares during the period. Public Sector Pension Investment Board grew its position in shares of MGE Energy by 27.2% in the first quarter. Public Sector Pension Investment Board now owns 114,776 shares of the utilities provider’s stock valued at $10,670,000 after purchasing an additional 24,577 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of MGE Energy by 18.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 86,608 shares of the utilities provider’s stock worth $8,051,000 after purchasing an additional 13,715 shares during the period. 52.58% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MGEE has been the subject of several recent analyst reports. LADENBURG THALM/SH SH upgraded MGE Energy from a “sell” rating to a “neutral” rating and increased their target price for the company from $69.00 to $83.00 in a research note on Thursday, September 11th. Weiss Ratings reiterated a “buy (b-)” rating on shares of MGE Energy in a report on Thursday. Morgan Stanley reissued an “underweight” rating on shares of MGE Energy in a research report on Wednesday, October 22nd. Finally, Wall Street Zen lowered shares of MGE Energy from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $79.00.

MGE Energy Price Performance

Shares of MGEE stock opened at $83.67 on Friday. MGE Energy Inc. has a 12 month low of $81.13 and a 12 month high of $106.76. The company has a market capitalization of $3.06 billion, a P/E ratio of 23.24 and a beta of 0.81. The stock has a 50 day moving average of $84.09 and a two-hundred day moving average of $86.54. The company has a current ratio of 1.80, a quick ratio of 1.20 and a debt-to-equity ratio of 0.60.

MGE Energy (NASDAQ:MGEE) last released its quarterly earnings data on Wednesday, November 5th. The utilities provider reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.03. The business had revenue of $175.68 million for the quarter. MGE Energy had a return on equity of 10.58% and a net margin of 18.24%. As a group, equities analysts expect that MGE Energy Inc. will post 3.43 EPS for the current year.

MGE Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be paid a $0.475 dividend. The ex-dividend date is Monday, December 1st. This represents a $1.90 dividend on an annualized basis and a dividend yield of 2.3%. MGE Energy’s dividend payout ratio is currently 51.49%.

About MGE Energy

MGE Energy, Inc, through its subsidiaries, operates as a public utility holding company primarily in the United States. It operates through Regulated Electric Utility Operations; Regulated Gas Utility Operations; Nonregulated Energy Operations; Transmission Investments; and All Other segments. The company generates, purchases, and distributes electricity and natural gas in Wisconsin and Iowa; owns and leases electric generating capacity; and plans, constructs, operates, maintains, and expands transmission facilities to provide transmission power services.