Cetera Investment Advisers Has $2.12 Million Stock Position in MGE Energy, Inc. (NASDAQ:MGEE)

Cetera Investment Advisers lowered its holdings in shares of MGE Energy, Inc. (NASDAQ:MGEE) by 4.2% in the second quarter, Holdings Channel.com reports. The institutional investor owned 28,365 shares of the utilities provider’s stock after selling 1,257 shares during the period. Cetera Investment Advisers’ holdings in MGE Energy were worth $2,119,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of 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. raised its holdings in shares of MGE Energy by 4,545.3% in the first quarter. Principal Financial Group Inc. now owns 204,066 shares of the utilities provider’s stock valued at $16,064,000 after purchasing an additional 199,673 shares during the last quarter. Millennium Management LLC lifted its position in shares of MGE Energy by 136.0% during the 2nd quarter. Millennium Management LLC now owns 79,200 shares of the utilities provider’s stock worth $5,918,000 after buying an additional 45,647 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of MGE Energy in the 1st quarter worth about $2,572,000. Finally, Texas Permanent School Fund Corp purchased a new stake in MGE Energy in the 1st quarter worth about $2,491,000. 52.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

MGE Energy Price Performance

MGEE opened at $90.52 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.32 and a quick ratio of 0.90. The firm has a market cap of $3.27 billion, a price-to-earnings ratio of 27.27 and a beta of 0.70. The stock’s 50 day simple moving average is $88.18 and its 200 day simple moving average is $82.24. MGE Energy, Inc. has a 1 year low of $61.94 and a 1 year high of $93.15.

MGE Energy (NASDAQ:MGEE) last released its earnings results on Wednesday, August 7th. The utilities provider reported $0.66 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 return on equity of 10.04% and a net margin of 17.45%. As a group, 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 disclosed a quarterly dividend, which was paid on Sunday, September 15th. Stockholders of record on Sunday, September 1st were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.99%. This is an increase from MGE Energy’s previous quarterly dividend of $0.43. The ex-dividend date was Friday, August 30th. MGE Energy’s payout ratio is presently 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.