Covestor Ltd Grows Holdings in MGE Energy, Inc. (NASDAQ:MGEE)

Covestor Ltd raised its position in MGE Energy, Inc. (NASDAQ:MGEE) by 43.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 794 shares of the utilities provider’s stock after buying an additional 240 shares during the period. Covestor Ltd’s holdings in MGE Energy were worth $63,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Speece Thorson Capital Group Inc. acquired a new stake in MGE Energy during the 4th quarter valued at approximately $6,145,000. New York State Teachers Retirement System bought a new stake in shares of MGE Energy in the first quarter worth $934,000. Quadrature Capital Ltd raised its holdings in MGE Energy by 122.1% in the fourth quarter. Quadrature Capital Ltd now owns 21,484 shares of the utilities provider’s stock valued at $1,554,000 after acquiring an additional 11,809 shares in the last quarter. Edgestream Partners L.P. bought a new position in MGE Energy during the 1st quarter valued at $1,178,000. Finally, Foundry Partners LLC grew its holdings in MGE Energy by 7.2% during the 4th quarter. Foundry Partners LLC now owns 4,455 shares of the utilities provider’s stock worth $322,000 after acquiring an additional 300 shares in the last quarter. 52.58% of the stock is owned by hedge funds and other institutional investors.

MGE Energy Trading Up 1.8 %

Shares of NASDAQ MGEE opened at $85.03 on Thursday. The company has a market cap of $3.08 billion, a price-to-earnings ratio of 25.61 and a beta of 0.70. The stock’s 50 day simple moving average is $78.27 and its 200 day simple moving average is $74.83. The company has a current ratio of 1.59, a quick ratio of 1.09 and a debt-to-equity ratio of 0.62. MGE Energy, Inc. has a 12-month low of $61.94 and a 12-month high of $86.20.

MGE Energy (NASDAQ:MGEE) last announced its quarterly earnings results on Wednesday, May 8th. The utilities provider reported $0.93 EPS for the quarter, missing the consensus estimate of $0.94 by ($0.01). The firm had revenue of $191.34 million during the quarter, compared to analyst estimates of $221.46 million. MGE Energy had a net margin of 18.12% and a return on equity of 10.60%. Equities research analysts expect that MGE Energy, Inc. will post 3.69 EPS for the current year.

MGE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, June 15th. Investors of record on Saturday, June 1st were paid a dividend of $0.428 per share. This represents a $1.71 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend was Friday, May 31st. MGE Energy’s dividend payout ratio is currently 51.51%.

Analyst Ratings Changes

Several analysts have issued reports on the company. StockNews.com upgraded MGE Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. Morgan Stanley decreased their price target on shares of MGE Energy from $68.00 to $65.00 and set an “underweight” rating for the company in a report on Monday, June 24th.

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.