Susquehanna Fundamental Investments LLC Purchases 18,315 Shares of MGE Energy, Inc. (NASDAQ:MGEE)

Susquehanna Fundamental Investments LLC grew its position in shares of MGE Energy, Inc. (NASDAQ:MGEE) by 56.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 50,987 shares of the utilities provider’s stock after acquiring an additional 18,315 shares during the quarter. Susquehanna Fundamental Investments LLC owned 0.14% of MGE Energy worth $3,810,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in MGEE. Quest Partners LLC grew its stake in MGE Energy by 5,088.9% in the second quarter. Quest Partners LLC now owns 467 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 458 shares in the last quarter. Security National Bank acquired a new position in MGE Energy during the fourth quarter worth $43,000. GAMMA Investing LLC raised its position in MGE Energy by 244.6% during the second quarter. GAMMA Investing LLC now owns 672 shares of the utilities provider’s stock worth $50,000 after acquiring an additional 477 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in MGE Energy in the second quarter valued at $58,000. Finally, Covestor Ltd grew its position in shares of 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 acquiring an additional 240 shares during the period. 52.58% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley lifted their price objective on shares of MGE Energy from $71.00 to $74.00 and gave the stock an “underweight” rating in a research report on Wednesday, September 25th.

MGE Energy Stock Up 1.1 %

NASDAQ MGEE opened at $91.03 on Monday. MGE Energy, Inc. has a fifty-two week low of $61.94 and a fifty-two week high of $93.15. The business has a fifty day moving average price of $87.35 and a two-hundred day moving average price of $81.21. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.32 and a quick ratio of 0.90. The stock has a market capitalization of $3.29 billion, a PE ratio of 27.42 and a beta of 0.70.

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

MGE Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st were given a $0.45 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.80 dividend on an annualized basis and a yield of 1.98%. This is a positive change from MGE Energy’s previous quarterly dividend of $0.43. MGE Energy’s dividend payout ratio (DPR) is currently 54.22%.

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.