Renaissance Technologies LLC Boosts Position in MGE Energy Inc. $MGEE

Renaissance Technologies LLC lifted its position in MGE Energy Inc. (NASDAQ:MGEE) by 46.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 67,600 shares of the utilities provider’s stock after purchasing an additional 21,300 shares during the quarter. Renaissance Technologies LLC’s holdings in MGE Energy were worth $5,225,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Speece Thorson Capital Group Inc. grew its stake in shares of MGE Energy by 44.3% in the 4th quarter. Speece Thorson Capital Group Inc. now owns 195,596 shares of the utilities provider’s stock valued at $15,339,000 after buying an additional 60,037 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in MGE Energy by 369.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 40,409 shares of the utilities provider’s stock worth $3,169,000 after acquiring an additional 31,795 shares during the period. Merit Financial Group LLC increased its stake in MGE Energy by 259.3% during the fourth quarter. Merit Financial Group LLC now owns 23,780 shares of the utilities provider’s stock worth $1,865,000 after acquiring an additional 17,161 shares during the last quarter. Fifth Third Bancorp increased its stake in MGE Energy by 27,266.2% during the first quarter. Fifth Third Bancorp now owns 20,251 shares of the utilities provider’s stock worth $1,565,000 after acquiring an additional 20,177 shares during the last quarter. Finally, Walleye Partners LLC purchased a new stake in MGE Energy in the fourth quarter valued at $520,000. 52.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of MGE Energy in a research report on Friday, May 8th. Morgan Stanley reiterated an “underweight” rating and set a $76.00 price target on shares of MGE Energy in a research report on Wednesday, July 22nd. Finally, LADENBURG THALM/SH SH raised shares of MGE Energy from a “neutral” rating to a “buy” rating and set a $81.00 price objective for the company in a research report on Monday, June 8th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, MGE Energy currently has an average rating of “Hold” and a consensus target price of $78.50.

MGE Energy Stock Up 0.7%

Shares of MGEE opened at $80.44 on Thursday. The stock has a market capitalization of $2.96 billion, a PE ratio of 20.63 and a beta of 0.71. MGE Energy Inc. has a 1 year low of $72.16 and a 1 year high of $88.01. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.83 and a current ratio of 1.15. The company’s 50-day simple moving average is $79.22 and its 200-day simple moving average is $78.70.

MGE Energy (NASDAQ:MGEE) last announced its quarterly earnings data on Wednesday, August 5th. The utilities provider reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.12. The firm had revenue of $161.19 million during the quarter, compared to analysts’ expectations of $166.37 million. MGE Energy had a net margin of 18.61% and a return on equity of 10.94%. Analysts forecast that MGE Energy Inc. will post 3.99 earnings per share for the current fiscal year.

MGE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a dividend of $0.475 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.90 dividend on an annualized basis and a dividend yield of 2.4%. MGE Energy’s dividend payout ratio is currently 48.72%.

MGE Energy Company 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.