Creative Planning Grows Position in MGE Energy, Inc. (NASDAQ:MGEE)

Creative Planning grew its stake in shares of MGE Energy, Inc. (NASDAQ:MGEE) by 12.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,233 shares of the utilities provider’s stock after purchasing an additional 936 shares during the period. Creative Planning’s holdings in MGE Energy were worth $615,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in MGEE. Vanguard Group Inc. grew its position in MGE Energy by 12.4% during the first quarter. Vanguard Group Inc. now owns 4,699,072 shares of the utilities provider’s stock worth $369,911,000 after buying an additional 518,466 shares during the period. Principal Financial Group Inc. grew its stake in MGE Energy by 4,545.3% in the 1st quarter. Principal Financial Group Inc. now owns 204,066 shares of the utilities provider’s stock valued at $16,064,000 after acquiring an additional 199,673 shares during the last quarter. Millennium Management LLC increased its holdings in MGE Energy by 136.0% during the 2nd 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 in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in MGE Energy during the first quarter worth about $2,572,000. Finally, Texas Permanent School Fund Corp acquired a new position in MGE Energy during the first quarter worth about $2,491,000. 52.58% of the stock is owned by institutional investors and hedge funds.

MGE Energy Stock Performance

NASDAQ:MGEE opened at $90.52 on Monday. MGE Energy, Inc. has a 1-year low of $61.94 and a 1-year high of $93.15. The firm has a 50 day simple moving average of $88.18 and a 200-day simple moving average of $82.24. The firm has a market cap of $3.27 billion, a PE ratio of 27.27 and a beta of 0.70. 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 (NASDAQ:MGEE) last released its earnings results on Wednesday, August 7th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.29). The company had revenue of $145.71 million during 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 expect that MGE Energy, Inc. will post 3.69 EPS for the current 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 dividend of $0.45 per share. The ex-dividend date was Friday, August 30th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.99%. This is a boost from MGE Energy’s previous quarterly dividend of $0.43. MGE Energy’s payout ratio is presently 54.22%.

Analysts Set New Price Targets

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 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.