MGE Energy Inc. $MGEE Stock Holdings Lifted by ProShare Advisors LLC

ProShare Advisors LLC increased its position in MGE Energy Inc. (NASDAQ:MGEE) by 34.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 123,853 shares of the utilities provider’s stock after buying an additional 31,572 shares during the quarter. ProShare Advisors LLC’s holdings in MGE Energy were worth $8,602,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Pinnacle Wealth Planning Services Inc. increased its stake in MGE Energy by 10.3% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 1,538 shares of the utilities provider’s stock worth $107,000 after buying an additional 144 shares in the last quarter. MBE Wealth Management LLC lifted its position in shares of MGE Energy by 2.5% in the third quarter. MBE Wealth Management LLC now owns 10,168 shares of the utilities provider’s stock valued at $706,000 after acquiring an additional 250 shares in the last quarter. Signaturefd LLC lifted its position in shares of MGE Energy by 66.9% in the third quarter. Signaturefd LLC now owns 1,759 shares of the utilities provider’s stock valued at $122,000 after acquiring an additional 705 shares in the last quarter. Inspire Investing LLC lifted its position in shares of MGE Energy by 10.4% in the third quarter. Inspire Investing LLC now owns 9,163 shares of the utilities provider’s stock valued at $636,000 after acquiring an additional 866 shares in the last quarter. Finally, NBT Bank N.A. bought a new position in shares of MGE Energy in the third quarter worth about $124,000. Institutional investors own 52.58% of the company’s stock.

Wall Street Analyst Weigh In

MGEE has been the subject of several research analyst reports. Wall Street Zen upgraded MGE Energy from a “sell” rating to a “hold” rating in a research report on Saturday, October 10th. Weiss Ratings reissued a “hold (c)” rating on shares of MGE Energy in a report on Tuesday. JPMorgan Chase & Co. started coverage on MGE Energy in a research note on Thursday, October 15th. They issued a “neutral” rating and a $76.00 price target for the company. Morgan Stanley increased their price objective on shares of MGE Energy from $71.00 to $72.00 and gave the company an “underweight” rating in a report on Wednesday, October 21st. Finally, Bank of America began coverage on shares of MGE Energy in a research report on Thursday, September 24th. They set a “neutral” rating and a $76.00 price objective on the stock. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, MGE Energy has a consensus rating of “Hold” and a consensus price target of $76.25.

MGE Energy Trading Up 5.0%

Shares of MGEE opened at $77.59 on Thursday. MGE Energy Inc. has a twelve month low of $68.01 and a twelve month high of $85.29. The company has a market cap of $2.93 billion, a P/E ratio of 19.06, a P/E/G ratio of 4.13 and a beta of 0.68. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.61. The company’s fifty day simple moving average is $73.55 and its 200-day simple moving average is $77.52.

MGE Energy (NASDAQ:MGEE) last released its quarterly earnings results on Wednesday, November 4th. The utilities provider reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.30. MGE Energy had a net margin of 19.45% and a return on equity of 11.10%. The firm had revenue of $190.40 million during the quarter, compared to analysts’ expectations of $184.59 million. As a group, analysts expect that MGE Energy Inc. will post 4.02 EPS for the current year.

MGE Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be paid a $0.5083 dividend. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $2.03 annualized dividend and a yield of 2.6%. MGE Energy’s dividend payout ratio (DPR) is presently 49.88%.

About MGE Energy

MGE Energy, Inc is a public utility holding company headquartered in Madison, Wisconsin. Its principal subsidiary, Madison Gas and Electric Company (MG&E), provides electric and natural gas service to customers in Madison and surrounding communities in south-central Wisconsin.

MG&E generates, purchases, transmits and distributes electricity, while also distributing natural gas. The company serves residential, commercial and industrial customers and offers related energy services, including programs focused on energy efficiency, electrification and renewable energy.

Madison Gas and Electric traces its history to 1855, and MGE Energy was established as the parent company of the utility in 1999.