Millennium Management LLC Grows Holdings in MGE Energy, Inc. (NASDAQ:MGEE)

Millennium Management LLC lifted its position in shares of MGE Energy, Inc. (NASDAQ:MGEE) by 136.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 79,200 shares of the utilities provider’s stock after acquiring an additional 45,647 shares during the quarter. Millennium Management LLC’s holdings in MGE Energy were worth $5,918,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Speece Thorson Capital Group Inc. acquired a new position in shares of MGE Energy during the 4th quarter worth approximately $6,145,000. Virtu Financial LLC purchased a new stake in shares of MGE Energy during the fourth quarter worth about $385,000. Goldman Sachs Group Inc. raised its position in shares of MGE Energy by 3.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 346,922 shares of the utilities provider’s stock worth $25,086,000 after purchasing an additional 10,822 shares during the last quarter. Quadrature Capital Ltd lifted its stake in MGE Energy by 122.1% in the 4th quarter. Quadrature Capital Ltd now owns 21,484 shares of the utilities provider’s stock valued at $1,554,000 after buying an additional 11,809 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in MGE Energy by 11.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 9,841 shares of the utilities provider’s stock worth $775,000 after buying an additional 1,009 shares during the last quarter. 52.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Morgan Stanley raised their target price 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 Price Performance

MGE Energy stock opened at $89.66 on Friday. The company has a fifty day simple moving average of $88.14 and a 200-day simple moving average of $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. The company has a quick ratio of 0.90, a current ratio of 1.32 and a debt-to-equity ratio of 0.61. MGE Energy, Inc. has a 52-week low of $61.94 and a 52-week high of $93.15.

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

MGE Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 15th. Investors of record on Sunday, September 1st were given a dividend of $0.45 per share. This is an increase from MGE Energy’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.80 dividend on an annualized basis and a yield of 2.01%. MGE Energy’s dividend payout ratio (DPR) is presently 54.22%.

About MGE Energy

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.