Sei Investments Co. Raises Stock Holdings in MGE Energy Inc. $MGEE

Sei Investments Co. lifted its stake in shares of MGE Energy Inc. (NASDAQ:MGEE) by 193.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,857 shares of the utilities provider’s stock after acquiring an additional 21,663 shares during the period. Sei Investments Co.’s holdings in MGE Energy were worth $2,540,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MGEE. Deprince Race & Zollo Inc. purchased a new position in shares of MGE Energy during the 1st quarter worth $21,418,000. Qube Research & Technologies Ltd boosted its stake in MGE Energy by 167.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 162,217 shares of the utilities provider’s stock worth $13,655,000 after buying an additional 101,586 shares during the last quarter. Jane Street Group LLC grew its holdings in MGE Energy by 718.5% in the 1st quarter. Jane Street Group LLC now owns 75,007 shares of the utilities provider’s stock valued at $6,973,000 after buying an additional 65,843 shares during the period. Speece Thorson Capital Group Inc. increased its stake in shares of MGE Energy by 44.3% during 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 acquiring an additional 60,037 shares during the last quarter. Finally, Two Sigma Investments LP increased its stake in shares of MGE Energy by 181.1% during the 3rd quarter. Two Sigma Investments LP now owns 80,758 shares of the utilities provider’s stock valued at $6,798,000 after acquiring an additional 52,031 shares during the last quarter. Hedge funds and other institutional investors own 52.58% of the company’s stock.

Analysts Set New Price Targets

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

MGE Energy Trading Up 0.9%

Shares of MGEE stock opened at $81.54 on Friday. The stock has a market cap of $3.08 billion, a price-to-earnings ratio of 20.03 and a beta of 0.71. The company has a quick ratio of 0.83, a current ratio of 1.14 and a debt-to-equity ratio of 0.61. MGE Energy Inc. has a fifty-two week low of $72.16 and a fifty-two week high of $88.01. The firm’s 50 day moving average price is $79.45 and its two-hundred day moving average price is $78.73.

MGE Energy (NASDAQ:MGEE) last released its quarterly earnings data on Wednesday, August 5th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.12. MGE Energy had a net margin of 19.45% and a return on equity of 11.10%. The company had revenue of $161.19 million during the quarter, compared to the consensus estimate of $166.37 million. On average, analysts anticipate that MGE Energy Inc. will post 3.99 EPS for the current year.

MGE Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued a dividend of $0.475 per share. The ex-dividend date was Monday, June 1st. This represents a $1.90 annualized dividend and a dividend yield of 2.3%. MGE Energy’s payout ratio is presently 46.68%.

About MGE Energy

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.