Fieldview Capital Management LLC Makes New Investment in MGE Energy Inc. $MGEE

Fieldview Capital Management LLC purchased a new position in shares of MGE Energy Inc. (NASDAQ:MGEE) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 7,418 shares of the utilities provider’s stock, valued at approximately $582,000.

A number of other institutional investors also recently bought and sold shares of the business. Parallel Advisors LLC raised its position 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 buying an additional 159 shares during the last quarter. LPL Financial LLC raised its position in MGE Energy by 0.8% during the 4th quarter. LPL Financial LLC now owns 21,178 shares of the utilities provider’s stock worth $1,661,000 after buying an additional 159 shares during the last quarter. Hantz Financial Services Inc. raised its position in MGE Energy by 63.8% during the 4th quarter. Hantz Financial Services Inc. now owns 416 shares of the utilities provider’s stock worth $33,000 after buying an additional 162 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in MGE Energy by 2.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 8,361 shares of the utilities provider’s stock worth $656,000 after buying an additional 168 shares during the last quarter. Finally, J.W. Cole Advisors Inc. raised its position in MGE Energy by 4.0% during the 4th quarter. J.W. Cole Advisors Inc. now owns 4,441 shares of the utilities provider’s stock worth $348,000 after buying an additional 169 shares during the last quarter. 52.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MGEE. Weiss Ratings reissued a “hold (c)” rating on shares of MGE Energy in a research report on Friday, May 8th. Morgan Stanley reiterated an “underweight” rating and issued a $70.00 target price on shares of MGE Energy in a research note on Thursday, May 21st. LADENBURG THALM/SH SH upgraded shares of MGE Energy from a “neutral” rating to a “buy” rating and set a $81.00 target price for the company in a research note on Monday, June 8th. Finally, Wall Street Zen upgraded shares of MGE Energy from a “sell” rating to a “hold” rating in a research note on Sunday, March 8th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, MGE Energy presently has an average rating of “Hold” and an average price target of $75.50.

MGE Energy Stock Performance

MGEE opened at $76.81 on Tuesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.15 and a quick ratio of 0.83. The firm has a fifty day moving average price of $77.22 and a 200 day moving average price of $78.40. MGE Energy Inc. has a 1 year low of $72.16 and a 1 year high of $91.49. The stock has a market cap of $2.82 billion, a P/E ratio of 19.69 and a beta of 0.73.

MGE Energy (NASDAQ:MGEE) last posted its earnings results on Tuesday, May 5th. The utilities provider reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.19. MGE Energy had a net margin of 18.61% and a return on equity of 10.94%. The firm had revenue of $242.70 million during the quarter, compared to analysts’ expectations of $227.06 million. Equities research analysts anticipate that MGE Energy Inc. will post 3.94 earnings per share for the current year.

MGE Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Monday, June 1st. MGE Energy’s payout ratio is currently 48.72%.

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.