MGE Energy, Inc. (NASDAQ:MGEE) Shares Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company raised its stake in MGE Energy, Inc. (NASDAQ:MGEE) by 1.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,594 shares of the utilities provider’s stock after acquiring an additional 349 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.06% of MGE Energy worth $1,539,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Millennium Management LLC grew its position in MGE Energy by 136.0% during the second quarter. Millennium Management LLC now owns 79,200 shares of the utilities provider’s stock valued at $5,918,000 after acquiring an additional 45,647 shares during the period. Deerfield Management Company L.P. Series C bought a new position in shares of MGE Energy during the second quarter valued at approximately $716,000. Squarepoint Ops LLC bought a new position in shares of MGE Energy during the second quarter valued at approximately $1,671,000. Bank of Montreal Can grew its holdings in MGE Energy by 1.6% in the 2nd quarter. Bank of Montreal Can now owns 9,149 shares of the utilities provider’s stock worth $705,000 after buying an additional 140 shares in the last quarter. Finally, Public Sector Pension Investment Board boosted its stake in MGE Energy by 7.4% during the 2nd quarter. Public Sector Pension Investment Board now owns 79,592 shares of the utilities provider’s stock valued at $5,947,000 after purchasing an additional 5,472 shares in the last quarter. 52.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

MGE Energy Trading Down 0.4 %

Shares of MGEE opened at $89.66 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.32 and a debt-to-equity ratio of 0.61. The stock’s 50-day moving average price is $88.14 and its 200 day moving average price is $82.08. The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of 27.01 and a beta of 0.70. MGE Energy, Inc. has a 12-month low of $61.94 and a 12-month high of $93.15.

MGE Energy (NASDAQ:MGEE) last released its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.29). MGE Energy had a net margin of 17.45% and a return on equity of 10.04%. The firm had revenue of $145.71 million during the quarter, compared to the consensus estimate of $151.29 million. As a group, research analysts predict that MGE Energy, Inc. will post 3.69 earnings per share for the current year.

MGE Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 15th. Stockholders of record on Sunday, September 1st were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, August 30th. This is a boost from MGE Energy’s previous quarterly dividend of $0.43. This represents a $1.80 annualized dividend and a dividend yield of 2.01%. MGE Energy’s dividend payout ratio (DPR) 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.