Northwestern Mutual Wealth Management Co. Acquires Shares of 10,379 MGE Energy Inc. $MGEE

Northwestern Mutual Wealth Management Co. bought a new stake in MGE Energy Inc. (NASDAQ:MGEE) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 10,379 shares of the utilities provider’s stock, valued at approximately $846,000.

Other large investors have also recently modified their holdings of the company. Hantz Financial Services Inc. lifted its position in shares of 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. Advisory Services Network LLC acquired a new stake in MGE Energy in the third quarter valued at about $40,000. Avalon Trust Co bought a new position in MGE Energy in the second quarter valued at about $49,000. Parallel Advisors LLC grew its position in MGE Energy by 28.6% in the third quarter. Parallel Advisors LLC now owns 714 shares of the utilities provider’s stock valued at $60,000 after acquiring an additional 159 shares during the last quarter. Finally, Versant Capital Management Inc raised its stake in MGE Energy by 60.3% during the second quarter. Versant Capital Management Inc now owns 744 shares of the utilities provider’s stock worth $61,000 after acquiring an additional 280 shares in the last quarter. Institutional investors and hedge funds own 52.58% of the company’s stock.

MGE Energy Trading Down 0.4%

NASDAQ MGEE opened at $79.01 on Wednesday. MGE Energy Inc. has a twelve month low of $72.16 and a twelve month high of $88.01. The business’s fifty day moving average is $80.61 and its 200 day moving average is $78.82. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.61. The company has a market cap of $2.98 billion, a price-to-earnings ratio of 19.41 and a beta of 0.71.

MGE Energy (NASDAQ:MGEE) last posted its earnings results on Wednesday, August 5th. The utilities provider reported $0.89 EPS for the quarter, beating the consensus estimate of $0.77 by $0.12. The firm had revenue of $161.19 million during the quarter, compared to the consensus estimate of $166.37 million. MGE Energy had a return on equity of 11.10% and a net margin of 19.45%. As a group, sell-side analysts expect that MGE Energy Inc. will post 3.99 EPS for the current fiscal year.

MGE Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a $0.5083 dividend. This is a boost from MGE Energy’s previous quarterly dividend of $0.47. The ex-dividend date is Tuesday, September 1st. This represents a $2.03 dividend on an annualized basis and a yield of 2.6%. MGE Energy’s dividend payout ratio (DPR) is 46.68%.

Analyst Ratings Changes

A number of research firms have recently commented on MGEE. Morgan Stanley dropped their target price on shares of MGE Energy from $76.00 to $74.00 and set an “underweight” rating for the company in a report on Friday, August 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MGE Energy in a report on Wednesday, August 5th. Finally, LADENBURG THALM/SH SH upgraded shares of MGE Energy from a “neutral” rating to a “buy” rating and set a $81.00 price objective for the company in a research report on Monday, June 8th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $77.50.

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.