Maryland State Retirement & Pension System Purchases 172 Shares of MGE Energy Inc. $MGEE

Maryland State Retirement & Pension System boosted its position in shares of MGE Energy Inc. (NASDAQ:MGEE) by 1.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,738 shares of the utilities provider’s stock after buying an additional 172 shares during the period. Maryland State Retirement & Pension System’s holdings in MGE Energy were worth $950,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MGEE. GAMMA Investing LLC boosted its stake in MGE Energy by 5.4% during the first quarter. GAMMA Investing LLC now owns 4,908 shares of the utilities provider’s stock valued at $456,000 after buying an additional 251 shares during the last quarter. SG Americas Securities LLC bought a new position in MGE Energy during the first quarter valued at approximately $332,000. MBE Wealth Management LLC boosted its stake in MGE Energy by 3.5% during the first quarter. MBE Wealth Management LLC now owns 8,580 shares of the utilities provider’s stock valued at $798,000 after buying an additional 290 shares during the last quarter. FORM Wealth Advisors LLC bought a new position in MGE Energy during the first quarter valued at approximately $807,000. Finally, Creative Financial Designs Inc. ADV boosted its stake in MGE Energy by 1.8% during the first quarter. Creative Financial Designs Inc. ADV now owns 7,215 shares of the utilities provider’s stock valued at $671,000 after buying an additional 126 shares during the last quarter. 52.58% of the stock is owned by institutional investors.

MGE Energy Price Performance

NASDAQ:MGEE opened at $84.59 on Monday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.80 and a quick ratio of 1.20. The business has a 50 day simple moving average of $84.41 and a 200-day simple moving average of $87.53. MGE Energy Inc. has a 1 year low of $81.14 and a 1 year high of $109.22. The firm has a market capitalization of $3.09 billion, a price-to-earnings ratio of 23.50 and a beta of 0.79.

MGE Energy (NASDAQ:MGEE) last issued its quarterly earnings results on Wednesday, August 6th. The utilities provider reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.01). MGE Energy had a return on equity of 10.58% and a net margin of 18.24%.The business had revenue of $159.45 million during the quarter. Equities analysts forecast that MGE Energy Inc. will post 3.43 EPS for the current year.

MGE Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 1st were issued a $0.475 dividend. The ex-dividend date was Friday, August 29th. This is a positive change from MGE Energy’s previous quarterly dividend of $0.45. This represents a $1.90 annualized dividend and a dividend yield of 2.2%. MGE Energy’s dividend payout ratio (DPR) is currently 52.78%.

Insider Buying and Selling at MGE Energy

In other MGE Energy news, Director James G. Berbee purchased 507 shares of MGE Energy stock in a transaction dated Friday, August 15th. The shares were purchased at an average cost of $83.83 per share, for a total transaction of $42,501.81. Following the completion of the acquisition, the director owned 6,329 shares in the company, valued at $530,560.07. This represents a 8.71% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on MGEE shares. LADENBURG THALM/SH SH raised MGE Energy from a “sell” rating to a “neutral” rating and increased their price target for the company from $69.00 to $83.00 in a research note on Thursday, September 11th. Morgan Stanley lowered their price objective on MGE Energy from $76.00 to $75.00 and set an “underweight” rating for the company in a research note on Thursday, September 25th. Weiss Ratings lowered MGE Energy from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. Finally, Wall Street Zen lowered MGE Energy from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $79.00.

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.