Strs Ohio Cuts Stake in MGE Energy Inc. $MGEE

Strs Ohio reduced its holdings in MGE Energy Inc. (NASDAQ:MGEE) by 81.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,200 shares of the utilities provider’s stock after selling 9,700 shares during the quarter. Strs Ohio’s holdings in MGE Energy were worth $185,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in MGE Energy by 20.6% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 6,113 shares of the utilities provider’s stock valued at $515,000 after acquiring an additional 1,045 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of MGE Energy by 1.5% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 10,300 shares of the utilities provider’s stock worth $862,000 after buying an additional 153 shares during the last quarter. Amalgamated Bank grew its holdings in MGE Energy by 1.8% during the 3rd quarter. Amalgamated Bank now owns 10,583 shares of the utilities provider’s stock valued at $891,000 after buying an additional 191 shares during the last quarter. Resonant Capital Advisors LLC purchased a new stake in shares of MGE Energy during the third quarter worth about $429,000. Finally, MBE Wealth Management LLC grew its stake in MGE Energy by 16.6% in the 3rd quarter. MBE Wealth Management LLC now owns 9,878 shares of the utilities provider’s stock worth $832,000 after acquiring an additional 1,404 shares during the period. Hedge funds and other institutional investors own 52.58% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on MGEE. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of MGE Energy in a research note on Monday, December 29th. Morgan Stanley reduced their target price on MGE Energy from $74.00 to $73.00 and set an “underweight” rating for the company in a research note on Monday. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $78.00.

MGE Energy Price Performance

Shares of NASDAQ:MGEE opened at $79.04 on Tuesday. The stock has a fifty day moving average of $79.40 and a 200-day moving average of $82.64. The company has a market capitalization of $2.89 billion, a PE ratio of 21.42 and a beta of 0.82. MGE Energy Inc. has a one year low of $76.47 and a one year high of $95.00. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.59 and a current ratio of 0.91.

MGE Energy (NASDAQ:MGEE) last announced its quarterly earnings data on Wednesday, November 5th. The utilities provider reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.03. The firm had revenue of $175.68 million during the quarter. MGE Energy had a return on equity of 10.65% and a net margin of 18.55%. As a group, equities analysts anticipate that MGE Energy Inc. will post 3.43 EPS for the current fiscal year.

MGE Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, March 15th. Stockholders of record on Sunday, March 1st will be paid a $0.475 dividend. The ex-dividend date is Friday, February 27th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 2.4%. MGE Energy’s payout ratio is presently 51.49%.

MGE Energy Profile

MGE Energy, Inc is a public utility holding company headquartered in Madison, Wisconsin. Through its principal subsidiary, Madison Gas and Electric Company (MGE), the company provides regulated electric and natural gas distribution services to residential, commercial and industrial customers in south-central Wisconsin. MGE Energy’s operations encompass the generation, transmission and distribution of electricity as well as the purchase and distribution of natural gas, with an emphasis on reliable service and system resilience.

Since reorganizing as a holding company in 2001, MGE Energy has expanded its portfolio to include nonregulated subsidiaries involved in renewable energy development, energy services and infrastructure support.