Texas Permanent School Fund Corp Sells 4,583 Shares of MGE Energy, Inc. (NASDAQ:MGEE)

Texas Permanent School Fund Corp decreased its holdings in shares of MGE Energy, Inc. (NASDAQ:MGEE) by 14.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,066 shares of the utilities provider’s stock after selling 4,583 shares during the period. Texas Permanent School Fund Corp owned about 0.07% of MGE Energy worth $2,022,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of MGEE. Charles Schwab Investment Management Inc. grew its holdings in MGE Energy by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 378,940 shares of the utilities provider’s stock valued at $27,401,000 after purchasing an additional 5,544 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of MGE Energy by 0.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 759,044 shares of the utilities provider’s stock valued at $54,887,000 after acquiring an additional 7,085 shares during the period. Avantax Advisory Services Inc. increased its holdings in MGE Energy by 34.5% in the 4th quarter. Avantax Advisory Services Inc. now owns 10,953 shares of the utilities provider’s stock worth $792,000 after acquiring an additional 2,808 shares in the last quarter. Quest Partners LLC bought a new stake in MGE Energy during the 4th quarter worth approximately $570,000. Finally, Neuberger Berman Group LLC purchased a new position in MGE Energy during the fourth quarter valued at approximately $213,000. 52.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MGEE has been the subject of a number of analyst reports. Morgan Stanley increased their price objective on shares of MGE Energy from $66.00 to $71.00 and gave the stock an “underweight” rating in a research note on Friday, August 23rd. StockNews.com raised MGE Energy from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th.

MGE Energy Trading Down 0.2 %

MGEE stock opened at $91.58 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.32 and a quick ratio of 0.90. MGE Energy, Inc. has a 1-year low of $61.94 and a 1-year high of $93.15. The business has a 50 day simple moving average of $85.47 and a two-hundred day simple moving average of $80.31. The company has a market capitalization of $3.31 billion, a price-to-earnings ratio of 27.58 and a beta of 0.70.

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

MGE Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 15th. Stockholders of record on Sunday, September 1st were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.97%. This is a boost from MGE Energy’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Friday, August 30th. MGE Energy’s payout ratio is 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.