Nisa Investment Advisors LLC Sells 337 Shares of MGE Energy, Inc. (NASDAQ:MGEE)

Nisa Investment Advisors LLC trimmed its holdings in MGE Energy, Inc. (NASDAQ:MGEE) by 13.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,229 shares of the utilities provider’s stock after selling 337 shares during the period. Nisa Investment Advisors LLC’s holdings in MGE Energy were worth $204,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quest Partners LLC raised its stake in MGE Energy by 5,088.9% in the 2nd quarter. Quest Partners LLC now owns 467 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 458 shares during the period. GAMMA Investing LLC raised its position in shares of MGE Energy by 244.6% in the second quarter. GAMMA Investing LLC now owns 672 shares of the utilities provider’s stock valued at $50,000 after purchasing an additional 477 shares during the period. DekaBank Deutsche Girozentrale bought a new position in shares of MGE Energy in the second quarter valued at about $58,000. Covestor Ltd lifted its stake in shares of MGE Energy by 43.3% during the 1st quarter. Covestor Ltd now owns 794 shares of the utilities provider’s stock worth $63,000 after buying an additional 240 shares during the last quarter. Finally, nVerses Capital LLC bought a new stake in shares of MGE Energy during the 2nd quarter worth about $75,000. 52.58% of the stock is currently owned by institutional investors.

MGE Energy Stock Performance

Shares of NASDAQ MGEE opened at $97.32 on Thursday. 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 firm has a market cap of $3.52 billion, a price-to-earnings ratio of 30.51 and a beta of 0.71. The stock’s fifty day moving average price is $90.24 and its two-hundred day moving average price is $84.02. MGE Energy, Inc. has a one year low of $61.94 and a one year high of $97.64.

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 the consensus estimate of $0.95 by ($0.29). MGE Energy had a net margin of 17.45% and a return on equity of 10.04%. The business had revenue of $145.71 million during the quarter, compared to analyst estimates of $151.29 million. On average, equities analysts forecast that MGE Energy, Inc. will post 3.69 EPS for the current year.

MGE Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.85%. MGE Energy’s payout ratio is presently 56.43%.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley increased their price target on shares of MGE Energy from $71.00 to $74.00 and gave the company an “underweight” rating in a report 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.