Louisiana State Employees Retirement System Acquires New Shares in MGE Energy Inc. $MGEE

Louisiana State Employees Retirement System bought a new stake in MGE Energy Inc. (NASDAQ:MGEE) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 16,200 shares of the utilities provider’s stock, valued at approximately $1,252,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC grew its position in shares of MGE Energy by 18.8% during the 1st quarter. AQR Capital Management LLC now owns 8,275 shares of the utilities provider’s stock worth $769,000 after buying an additional 1,312 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of MGE Energy by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,707 shares of the utilities provider’s stock valued at $2,018,000 after acquiring an additional 954 shares during the last quarter. United Services Automobile Association bought a new position in MGE Energy during the 1st quarter worth approximately $220,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in MGE Energy by 18.8% during the 1st 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 acquiring an additional 13,715 shares during the last quarter. Finally, Jane Street Group LLC grew 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 purchasing an additional 65,843 shares during the period. Institutional investors own 52.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on MGEE shares. Morgan Stanley reaffirmed an “underweight” rating on shares of MGE Energy in a research note on Wednesday, June 24th. Weiss Ratings reissued a “hold (c)” rating on shares of MGE Energy in a research report on Friday, May 8th. LADENBURG THALM/SH SH raised shares of MGE Energy from a “neutral” rating to a “buy” rating and set a $81.00 price target for the company in a report on Monday, June 8th. Finally, Wall Street Zen upgraded shares of MGE Energy from a “sell” rating to a “hold” rating in a research report on Sunday, March 8th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, MGE Energy has an average rating of “Hold” and a consensus target price of $75.50.

MGE Energy Stock Performance

Shares of MGE Energy stock opened at $84.23 on Friday. The firm has a market cap of $3.10 billion, a price-to-earnings ratio of 21.60 and a beta of 0.71. The stock’s 50-day moving average is $77.24 and its 200-day moving average is $78.32. MGE Energy Inc. has a one year low of $72.16 and a one year high of $90.14. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.15 and a quick ratio of 0.83.

MGE Energy (NASDAQ:MGEE) last posted its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.19. The business had revenue of $242.70 million during the quarter, compared to the consensus estimate of $227.06 million. MGE Energy had a return on equity of 10.94% and a net margin of 18.61%. Equities analysts predict that MGE Energy Inc. will post 3.98 earnings per share for the current fiscal year.

MGE Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a dividend of $0.475 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.90 dividend on an annualized basis and a yield of 2.3%. MGE Energy’s dividend payout ratio is 48.72%.

MGE Energy Company 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.