MGE Energy, Inc. (NASDAQ:MGEE) Shares Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System grew its holdings in MGE Energy, Inc. (NASDAQ:MGEE) by 1.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,200 shares of the utilities provider’s stock after purchasing an additional 300 shares during the period. Louisiana State Employees Retirement System’s holdings in MGE Energy were worth $1,360,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of MGE Energy by 12.4% in the 1st quarter. Vanguard Group Inc. now owns 4,699,072 shares of the utilities provider’s stock worth $369,911,000 after acquiring an additional 518,466 shares during the last quarter. Principal Financial Group Inc. lifted its stake in MGE Energy by 4,545.3% during the first quarter. Principal Financial Group Inc. now owns 204,066 shares of the utilities provider’s stock worth $16,064,000 after purchasing an additional 199,673 shares in the last quarter. Speece Thorson Capital Group Inc. acquired a new stake in shares of MGE Energy in the fourth quarter valued at $6,145,000. Victory Capital Management Inc. raised its holdings in shares of MGE Energy by 5.1% in the 4th quarter. Victory Capital Management Inc. now owns 1,229,511 shares of the utilities provider’s stock valued at $88,906,000 after buying an additional 60,190 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new position in MGE Energy during the 1st quarter worth about $2,572,000. 52.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MGEE has been the topic of a number of research reports. Morgan Stanley increased their target price on shares of MGE Energy from $66.00 to $71.00 and gave the stock an “underweight” rating in a report on Friday. StockNews.com raised MGE Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th.

MGE Energy Stock Up 1.8 %

MGEE opened at $87.24 on Monday. The business has a 50 day moving average price of $81.64 and a two-hundred day moving average price of $77.75. MGE Energy, Inc. has a 52 week low of $61.94 and a 52 week high of $90.00. The company has a quick ratio of 1.09, a current ratio of 1.59 and a debt-to-equity ratio of 0.62. The company has a market cap of $3.16 billion, a PE ratio of 26.28 and a beta of 0.70.

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 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 18.12% and a return on equity of 10.60%. As a group, research analysts anticipate that MGE Energy, Inc. will post 3.69 EPS for the current year.

MGE Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, September 15th. Stockholders of record on Sunday, September 1st will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Friday, August 30th. This is a positive change from MGE Energy’s previous quarterly dividend of $0.43. MGE Energy’s payout ratio is currently 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.