Royal Bank of Canada boosted its holdings in MGE Energy Inc. (NASDAQ:MGEE) by 5.0% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 24,860 shares of the utilities provider’s stock after buying an additional 1,183 shares during the period. Royal Bank of Canada owned 0.07% of MGE Energy worth $1,600,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. increased its stake in MGE Energy by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 3,299,739 shares of the utilities provider’s stock worth $212,339,000 after buying an additional 23,911 shares in the last quarter. Northern Trust Corp increased its stake in MGE Energy by 1.6% in the 2nd quarter. Northern Trust Corp now owns 438,325 shares of the utilities provider’s stock worth $28,206,000 after buying an additional 6,842 shares in the last quarter. Renaissance Technologies LLC increased its stake in MGE Energy by 14.6% in the 2nd quarter. Renaissance Technologies LLC now owns 217,450 shares of the utilities provider’s stock worth $13,993,000 after buying an additional 27,700 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in MGE Energy by 1.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 195,440 shares of the utilities provider’s stock worth $12,577,000 after buying an additional 3,017 shares in the last quarter. Finally, TIAA CREF Investment Management LLC increased its stake in MGE Energy by 7.3% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 101,722 shares of the utilities provider’s stock worth $6,546,000 after buying an additional 6,927 shares in the last quarter. Institutional investors and hedge funds own 38.12% of the company’s stock.
A number of equities research analysts have issued reports on MGEE shares. Zacks Investment Research lowered MGE Energy from a “hold” rating to a “sell” rating in a research note on Friday, July 14th. BidaskClub lowered MGE Energy from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 17th.
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In related news, insider Jeffrey M. Keebler bought 547 shares of the business’s stock in a transaction dated Tuesday, September 5th. The stock was acquired at an average price of $64.02 per share, with a total value 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 Inc. (NASDAQ:MGEE) opened at 66.30 on Tuesday. The stock’s 50 day moving average price is $65.96 and its 200-day moving average price is $65.20. MGE Energy Inc. has a 12 month low of $56.00 and a 12 month high of $68.70. The stock has a market cap of $2.30 billion, a price-to-earnings ratio of 29.76 and a beta of 0.34.
MGE Energy (NASDAQ:MGEE) last released its earnings results on Friday, August 4th. The utilities provider reported $0.45 EPS for the quarter. The business had revenue of $126.46 million during the quarter. MGE Energy had a net margin of 13.82% and a return on equity of 10.60%. Equities analysts expect that MGE Energy Inc. will post $2.30 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be paid a dividend of $0.3225 per share. The ex-dividend date is Thursday, November 30th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 1.94%. MGE Energy’s dividend payout ratio is currently 57.85%.
MGE Energy Company 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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