DekaBank Deutsche Girozentrale Makes New $58,000 Investment in MGE Energy, Inc. (NASDAQ:MGEE)

DekaBank Deutsche Girozentrale purchased a new position in shares of MGE Energy, Inc. (NASDAQ:MGEE) during the second quarter, Holdings Channel.com reports. The firm purchased 777 shares of the utilities provider’s stock, valued at approximately $58,000.

Other large investors also recently modified their holdings of the company. Quest Partners LLC boosted its stake in MGE Energy by 5,088.9% during the second quarter. Quest Partners LLC now owns 467 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 458 shares in the last quarter. Security National Bank bought a new position in shares of MGE Energy during the 4th quarter worth about $43,000. GAMMA Investing LLC grew its stake in shares of MGE Energy by 244.6% in the 2nd quarter. GAMMA Investing LLC now owns 672 shares of the utilities provider’s stock valued at $50,000 after buying an additional 477 shares during the period. Covestor Ltd increased its position in MGE Energy by 43.3% in the 1st quarter. Covestor Ltd now owns 794 shares of the utilities provider’s stock valued at $63,000 after buying an additional 240 shares in the last quarter. Finally, nVerses Capital LLC acquired a new position in MGE Energy during the 2nd quarter worth approximately $75,000. Institutional investors and hedge funds own 52.58% of the company’s stock.

Analyst Upgrades and Downgrades

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

MGE Energy Stock Performance

Shares of MGEE opened at $91.47 on Friday. The firm has a market capitalization of $3.31 billion, a P/E ratio of 27.55 and a beta of 0.70. MGE Energy, Inc. has a 52 week low of $61.94 and a 52 week high of $93.15. The stock has a 50 day moving average price of $86.55 and a two-hundred day moving average price of $80.77. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.90 and a current ratio of 1.32.

MGE Energy (NASDAQ:MGEE) last released 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 company had revenue of $145.71 million during the quarter, compared to analysts’ expectations of $151.29 million. MGE Energy had a net margin of 17.45% and a return on equity of 10.04%. Equities analysts forecast that MGE Energy, Inc. will post 3.69 earnings per share for the current fiscal year.

MGE Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.97%. This is an increase from MGE Energy’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Friday, August 30th. MGE Energy’s dividend payout ratio is presently 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.