Thrivent Financial for Lutherans Decreases Stake in MGE Energy, Inc. (NASDAQ:MGEE)

Thrivent Financial for Lutherans cut its holdings in shares of MGE Energy, Inc. (NASDAQ:MGEE) by 4.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,031 shares of the utilities provider’s stock after selling 1,341 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.08% of MGE Energy worth $2,244,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. TD Asset Management Inc lifted its position in shares of MGE Energy by 6.4% during the fourth quarter. TD Asset Management Inc now owns 20,008 shares of the utilities provider’s stock worth $1,447,000 after acquiring an additional 1,200 shares in the last quarter. Magellan Asset Management Ltd boosted its stake in MGE Energy by 2.4% in the 4th quarter. Magellan Asset Management Ltd now owns 26,485 shares of the utilities provider’s stock worth $1,915,000 after purchasing an additional 623 shares during the period. Security National Bank purchased a new position in MGE Energy during the 4th quarter valued at about $43,000. Quadrature Capital Ltd increased its position in shares of MGE Energy by 122.1% during the fourth quarter. Quadrature Capital Ltd now owns 21,484 shares of the utilities provider’s stock valued at $1,554,000 after buying an additional 11,809 shares during the period. Finally, Neuberger Berman Group LLC purchased a new stake in shares of MGE Energy in the fourth quarter worth about $213,000. Institutional investors own 52.58% of the company’s stock.

MGE Energy Trading Up 0.4 %

Shares of MGEE stock opened at $91.83 on Wednesday. The company has a market capitalization of $3.32 billion, a PE ratio of 27.66 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 business’s fifty day moving average is $87.49 and its 200 day moving average is $81.33. 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 issued its quarterly 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 for 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%. On average, equities research analysts anticipate that MGE Energy, Inc. will post 3.69 EPS for the current fiscal year.

MGE Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 15th. Stockholders of record on Sunday, September 1st were issued a $0.45 dividend. This is a positive change from MGE Energy’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.96%. MGE Energy’s dividend payout ratio is presently 54.22%.

Wall Street Analyst Weigh In

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

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.