Macquarie Group Ltd. reduced its stake in shares of MGE Energy Inc. (NASDAQ:MGEE) by 10.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,400 shares of the utilities provider’s stock after selling 1,100 shares during the quarter. Macquarie Group Ltd.’s holdings in MGE Energy were worth $605,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sii Investments Inc. WI grew its holdings in shares of MGE Energy by 16.6% during the 2nd quarter. Sii Investments Inc. WI now owns 7,528 shares of the utilities provider’s stock worth $484,000 after purchasing an additional 1,069 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of MGE Energy by 5.0% during the 2nd quarter. Royal Bank of Canada now owns 24,860 shares of the utilities provider’s stock worth $1,600,000 after purchasing an additional 1,183 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of MGE Energy by 16.2% during the 2nd quarter. Goldman Sachs Group Inc. now owns 35,815 shares of the utilities provider’s stock worth $2,304,000 after purchasing an additional 4,980 shares in the last quarter. Voya Investment Management LLC grew its holdings in shares of MGE Energy by 5.0% during the 2nd quarter. Voya Investment Management LLC now owns 17,312 shares of the utilities provider’s stock worth $1,114,000 after purchasing an additional 823 shares in the last quarter. Finally, Citadel Advisors LLC acquired a new stake in shares of MGE Energy during the 2nd quarter worth $798,000. 38.12% of the stock is currently owned by institutional investors.
Several analysts have recently issued reports on the company. Zacks Investment Research raised MGE Energy from a “sell” rating to a “hold” rating in a report on Thursday, September 7th. BidaskClub lowered MGE Energy from a “sell” rating to a “strong sell” rating in a report on Thursday, August 17th.
Shares of MGE Energy Inc. (NASDAQ:MGEE) opened at 66.30 on Tuesday. The company’s 50 day moving average price is $65.96 and its 200 day moving average price is $65.20. The company has a market capitalization of $2.30 billion, a P/E ratio of 29.76 and a beta of 0.34. MGE Energy Inc. has a 12 month low of $56.00 and a 12 month high of $68.70.
MGE Energy (NASDAQ:MGEE) last posted its earnings results on Friday, August 4th. The utilities provider reported $0.45 EPS for the quarter. MGE Energy had a return on equity of 10.60% and a net margin of 13.82%. The business had revenue of $126.46 million during the quarter. Analysts expect that MGE Energy Inc. will post $2.30 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a dividend of $0.3225 per share. This represents a $1.29 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend is Thursday, November 30th. MGE Energy’s payout ratio is 57.85%.
In other MGE Energy news, insider Jeffrey M. Keebler bought 547 shares of MGE Energy stock in a transaction that occurred on Tuesday, September 5th. The stock was acquired at an average cost of $64.02 per share, for a total transaction of $35,018.94. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is owned by insiders.
MGE Energy Profile
MGE Energy, Inc (MGE) is a public utility holding company. The Company operates through five segments: Regulated electric utility operations; Regulated gas utility operations; Nonregulated energy operations; Transmission investments, and All other. The Regulated electric utility operations segment is engaged in generating, purchasing and distributing electricity through Madison Gas and Electric Company (MGE).
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