Renaissance Technologies LLC Sells 7,600 Shares of MGE Energy, Inc. (NASDAQ:MGEE)

Renaissance Technologies LLC trimmed its position in shares of MGE Energy, Inc. (NASDAQ:MGEE) by 71.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,100 shares of the utilities provider’s stock after selling 7,600 shares during the quarter. Renaissance Technologies LLC’s holdings in MGE Energy were worth $232,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake in shares of MGE Energy by 2.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 783,396 shares of the utilities provider’s stock worth $58,536,000 after purchasing an additional 20,533 shares during the period. DekaBank Deutsche Girozentrale bought a new stake in MGE Energy in the 2nd quarter valued at about $58,000. BOKF NA raised its stake in MGE Energy by 126.9% in the 2nd quarter. BOKF NA now owns 4,367 shares of the utilities provider’s stock valued at $326,000 after acquiring an additional 2,442 shares during the period. American Century Companies Inc. raised its stake in MGE Energy by 8.8% in the 2nd quarter. American Century Companies Inc. now owns 45,747 shares of the utilities provider’s stock valued at $3,418,000 after acquiring an additional 3,715 shares during the period. Finally, Royal London Asset Management Ltd. raised its stake in MGE Energy by 4.1% in the 2nd quarter. Royal London Asset Management Ltd. now owns 38,213 shares of the utilities provider’s stock valued at $2,855,000 after acquiring an additional 1,506 shares during the period. 52.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Morgan Stanley upped their price target on MGE Energy from $71.00 to $74.00 and gave the company an “underweight” rating in a research report on Wednesday, September 25th.

MGE Energy Stock Up 1.0 %

Shares of NASDAQ MGEE opened at $90.52 on Friday. MGE Energy, Inc. has a 12 month low of $61.94 and a 12 month high of $93.15. The company has a current ratio of 1.32, a quick ratio of 0.90 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $3.27 billion, a price-to-earnings ratio of 27.27 and a beta of 0.70. The business has a 50-day moving average of $88.18 and a 200-day moving average of $82.21.

MGE Energy (NASDAQ:MGEE) last issued its earnings results on Wednesday, August 7th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.29). The firm had revenue of $145.71 million during 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%. Sell-side analysts expect that MGE Energy, Inc. will post 3.69 earnings per share for the current fiscal year.

MGE Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st were paid a $0.45 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.80 annualized dividend and a yield of 1.99%. This is a positive change from MGE Energy’s previous quarterly dividend of $0.43. MGE Energy’s dividend payout ratio is currently 54.22%.

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.