Goldman Sachs Group Inc. Has $25.09 Million Stock Position in MGE Energy, Inc. (NASDAQ:MGEE)

Goldman Sachs Group Inc. raised its holdings in shares of MGE Energy, Inc. (NASDAQ:MGEE) by 3.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 346,922 shares of the utilities provider’s stock after acquiring an additional 10,822 shares during the quarter. Goldman Sachs Group Inc.’s holdings in MGE Energy were worth $25,086,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of MGEE. Victory Capital Management Inc. grew its stake in shares of MGE Energy by 5.1% during the fourth quarter. Victory Capital Management Inc. now owns 1,229,511 shares of the utilities provider’s stock worth $88,906,000 after purchasing an additional 60,190 shares during the period. Dimensional Fund Advisors LP raised its position in shares of MGE Energy by 0.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 759,044 shares of the utilities provider’s stock valued at $54,887,000 after acquiring an additional 7,085 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in MGE Energy by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 378,940 shares of the utilities provider’s stock worth $27,401,000 after acquiring an additional 5,544 shares during the last quarter. Speece Thorson Capital Group Inc. acquired a new position in MGE Energy during the fourth quarter valued at approximately $6,145,000. Finally, Harbour Investments Inc. increased its stake in MGE Energy by 10.5% in the third quarter. Harbour Investments Inc. now owns 59,000 shares of the utilities provider’s stock valued at $4,042,000 after purchasing an additional 5,593 shares in the last quarter. Institutional investors own 52.58% of the company’s stock.

Wall Street Analysts Forecast Growth

MGEE has been the subject of several research analyst reports. Morgan Stanley decreased their price target on shares of MGE Energy from $68.00 to $65.00 and set an “underweight” rating for the company in a report on Monday. StockNews.com upgraded MGE Energy from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th.

MGE Energy Stock Up 1.6 %

MGE Energy stock opened at $76.78 on Tuesday. The company has a 50 day moving average of $78.42 and a 200-day moving average of $73.89. The company has a quick ratio of 1.09, a current ratio of 1.59 and a debt-to-equity ratio of 0.62. MGE Energy, Inc. has a twelve month low of $61.94 and a twelve month high of $83.27. The stock has a market capitalization of $2.78 billion, a PE ratio of 23.13 and a beta of 0.73.

MGE Energy (NASDAQ:MGEE) last announced its earnings results on Wednesday, May 8th. The utilities provider reported $0.93 earnings per share for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.01). MGE Energy had a return on equity of 10.60% and a net margin of 18.12%. The company had revenue of $191.34 million during the quarter, compared to analyst estimates of $221.46 million. On average, equities research analysts anticipate that MGE Energy, Inc. will post 3.69 EPS for the current fiscal year.

MGE Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Saturday, June 15th. Investors of record on Saturday, June 1st were issued a dividend of $0.428 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $1.71 dividend on an annualized basis and a dividend yield of 2.23%. MGE Energy’s payout ratio is presently 51.51%.

MGE Energy Profile

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.