State of Alaska Department of Revenue Sells 596 Shares of MGE Energy, Inc. (NASDAQ:MGEE)

State of Alaska Department of Revenue lowered its holdings in MGE Energy, Inc. (NASDAQ:MGEE) by 2.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,644 shares of the utilities provider’s stock after selling 596 shares during the quarter. State of Alaska Department of Revenue’s holdings in MGE Energy were worth $1,887,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of MGEE. Wealth Enhancement Advisory Services LLC grew its holdings in shares of MGE Energy by 11.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 9,841 shares of the utilities provider’s stock valued at $775,000 after buying an additional 1,009 shares during the last quarter. Maryland State Retirement & Pension System bought a new stake in MGE Energy during the 1st quarter worth approximately $974,000. BNP Paribas Financial Markets increased its holdings in MGE Energy by 3.1% during the 1st quarter. BNP Paribas Financial Markets now owns 24,029 shares of the utilities provider’s stock worth $1,892,000 after purchasing an additional 727 shares in the last quarter. Mutual of America Capital Management LLC purchased a new stake in shares of MGE Energy in the first quarter worth approximately $490,000. Finally, Texas Permanent School Fund Corp bought a new position in shares of MGE Energy in the first quarter valued at approximately $2,491,000. Institutional investors own 52.58% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Morgan Stanley increased their price target 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 Trading Down 2.1 %

Shares of MGEE stock opened at $88.55 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.90 and a current ratio of 1.32. The company has a market capitalization of $3.20 billion, a price-to-earnings ratio of 27.76 and a beta of 0.70. MGE Energy, Inc. has a 52-week low of $61.94 and a 52-week high of $94.57. The company has a 50-day simple moving average of $89.85 and a two-hundred day simple moving average of $83.52.

MGE Energy (NASDAQ:MGEE) last posted its quarterly earnings data 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 business 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%. Research analysts anticipate that MGE Energy, Inc. will post 3.69 EPS for the current fiscal year.

MGE Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.80 annualized dividend and a dividend yield of 2.03%. MGE Energy’s payout ratio is 56.43%.

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.