Valmark Advisers Inc. Takes Position in MGE Energy, Inc. (NASDAQ:MGEE)

Valmark Advisers Inc. acquired a new position in shares of MGE Energy, Inc. (NASDAQ:MGEE) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 4,568 shares of the utilities provider’s stock, valued at approximately $341,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Nisa Investment Advisors LLC raised its holdings in MGE Energy by 9.0% during the second quarter. Nisa Investment Advisors LLC now owns 2,566 shares of the utilities provider’s stock worth $192,000 after purchasing an additional 212 shares during the last quarter. Covestor Ltd raised its stake in shares of MGE Energy by 43.3% during the 1st quarter. Covestor Ltd now owns 794 shares of the utilities provider’s stock worth $63,000 after buying an additional 240 shares during the last quarter. Wealthspire Advisors LLC boosted its position in shares of MGE Energy by 6.2% in the 4th quarter. Wealthspire Advisors LLC now owns 4,791 shares of the utilities provider’s stock worth $346,000 after buying an additional 280 shares in the last quarter. Landaas & Co. WI ADV grew its stake in MGE Energy by 9.5% in the 1st quarter. Landaas & Co. WI ADV now owns 3,466 shares of the utilities provider’s stock valued at $273,000 after acquiring an additional 300 shares during the last quarter. Finally, Louisiana State Employees Retirement System grew its stake in MGE Energy by 1.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 18,200 shares of the utilities provider’s stock valued at $1,360,000 after acquiring an additional 300 shares during the last quarter. Institutional investors and hedge funds own 52.58% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MGEE. StockNews.com raised shares of MGE Energy from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. Morgan Stanley increased their target price on MGE Energy from $66.00 to $71.00 and gave the company an “underweight” rating in a report on Friday, August 23rd.

MGE Energy Trading Down 0.9 %

MGE Energy stock opened at $85.96 on Wednesday. The stock has a 50-day moving average price of $83.09 and a 200 day moving average price of $78.80. MGE Energy, Inc. has a 52 week low of $61.94 and a 52 week high of $90.00. The stock has a market cap of $3.11 billion, a PE ratio of 25.89 and a beta of 0.70. The company has a current ratio of 1.32, a quick ratio of 0.90 and a debt-to-equity ratio of 0.61.

MGE Energy (NASDAQ:MGEE) last issued its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.29). The firm had revenue of $145.71 million for the quarter, compared to analysts’ expectations of $151.29 million. MGE Energy had a return on equity of 10.04% and a net margin of 17.45%. Equities research analysts predict that MGE Energy, Inc. will post 3.69 earnings per share for the current fiscal year.

MGE Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st will be issued a $0.45 dividend. The ex-dividend date is Friday, August 30th. This is an increase from MGE Energy’s previous quarterly dividend of $0.43. This represents a $1.80 annualized dividend and a yield of 2.09%. MGE Energy’s payout ratio is 54.22%.

MGE Energy Company 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.