Arizona State Retirement System Buys 187 Shares of MGE Energy, Inc. (NASDAQ:MGEE)

Arizona State Retirement System raised its position in shares of MGE Energy, Inc. (NASDAQ:MGEE) by 1.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,126 shares of the utilities provider’s stock after acquiring an additional 187 shares during the quarter. Arizona State Retirement System’s holdings in MGE Energy were worth $757,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its holdings in shares of MGE Energy by 9.0% during the second quarter. Nisa Investment Advisors LLC now owns 2,566 shares of the utilities provider’s stock valued at $192,000 after acquiring an additional 212 shares in the last quarter. Covestor Ltd lifted its stake in MGE Energy by 43.3% in the first quarter. Covestor Ltd now owns 794 shares of the utilities provider’s stock valued at $63,000 after purchasing an additional 240 shares during the last quarter. Landaas & Co. WI ADV grew its stake in shares of MGE Energy by 9.5% during the 1st quarter. Landaas & Co. WI ADV now owns 3,466 shares of the utilities provider’s stock worth $273,000 after acquiring an additional 300 shares during the period. Louisiana State Employees Retirement System boosted its position in MGE Energy by 1.7% during the second quarter. Louisiana State Employees Retirement System now owns 18,200 shares of the utilities provider’s stock worth $1,360,000 after purchasing an additional 300 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in MGE Energy by 5.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,508 shares of the utilities provider’s stock valued at $561,000 after buying an additional 365 shares in the last quarter. Institutional investors and hedge funds own 52.58% of the company’s stock.

MGE Energy Stock Up 3.0 %

Shares of NASDAQ:MGEE opened at $90.60 on Friday. 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, Inc. has a 12 month low of $61.94 and a 12 month high of $90.77. The company has a market cap of $3.28 billion, a price-to-earnings ratio of 27.29 and a beta of 0.70. The company has a 50-day moving average price of $85.15 and a 200 day moving average price of $79.99.

MGE Energy (NASDAQ:MGEE) last announced its 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 during the quarter, compared to the consensus estimate of $151.29 million. MGE Energy had a return on equity of 10.04% and a net margin of 17.45%. As a group, equities research analysts predict that MGE Energy, Inc. will post 3.69 earnings per share for the current year.

MGE Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, September 15th. Stockholders of record on Sunday, September 1st will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.99%. This is a boost from MGE Energy’s previous quarterly dividend of $0.43. MGE Energy’s payout ratio is 54.22%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Morgan Stanley upped their price target on MGE Energy from $66.00 to $71.00 and gave the company an “underweight” rating in a research report on Friday, August 23rd. StockNews.com upgraded shares of MGE Energy from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th.

About MGE Energy

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.