SG Americas Securities LLC Has $2.51 Million Holdings in MGE Energy Inc. $MGEE

SG Americas Securities LLC lifted its position in MGE Energy Inc. (NASDAQ:MGEE) by 182.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,477 shares of the utilities provider’s stock after buying an additional 20,987 shares during the quarter. SG Americas Securities LLC’s holdings in MGE Energy were worth $2,510,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Tudor Investment Corp ET AL grew its position in shares of MGE Energy by 20.8% in the 3rd quarter. Tudor Investment Corp ET AL now owns 97,520 shares of the utilities provider’s stock valued at $8,209,000 after acquiring an additional 16,786 shares during the period. Speece Thorson Capital Group Inc. raised its holdings 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 purchasing an additional 60,037 shares during the period. JPMorgan Chase & Co. lifted its stake in MGE Energy by 49.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 84,700 shares of the utilities provider’s stock valued at $7,130,000 after purchasing an additional 27,899 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in MGE Energy by 369.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 40,409 shares of the utilities provider’s stock valued at $3,169,000 after purchasing an additional 31,795 shares during the last quarter. Finally, Merit Financial Group LLC lifted its stake in MGE Energy by 259.3% in the 4th quarter. Merit Financial Group LLC now owns 23,780 shares of the utilities provider’s stock valued at $1,865,000 after purchasing an additional 17,161 shares during the last quarter. 52.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on MGEE shares. Weiss Ratings reissued a “hold (c)” rating on shares of MGE Energy in a research report on Friday, May 8th. LADENBURG THALM/SH SH raised 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. Wall Street Zen upgraded MGE Energy from a “sell” rating to a “hold” rating in a research note on Sunday, March 8th. Finally, Morgan Stanley reissued an “underweight” rating on shares of MGE Energy in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, MGE Energy presently has a consensus rating of “Hold” and a consensus target price of $75.50.

MGE Energy Stock Down 0.5%

Shares of MGEE opened at $81.11 on Thursday. The firm has a market cap of $2.98 billion, a P/E ratio of 20.80 and a beta of 0.71. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.83 and a current ratio of 1.15. MGE Energy Inc. has a 52 week low of $72.16 and a 52 week high of $90.14. The firm’s 50-day simple moving average is $77.02 and its 200 day simple moving average is $78.25.

MGE Energy (NASDAQ:MGEE) last released its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.19. The business had revenue of $242.70 million during the quarter, compared to analysts’ expectations of $227.06 million. MGE Energy had a return on equity of 10.94% and a net margin of 18.61%. On average, analysts forecast that MGE Energy Inc. will post 3.98 earnings per share for the current year.

MGE Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were issued a dividend of $0.475 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.90 annualized dividend and a dividend yield of 2.3%. MGE Energy’s dividend payout ratio (DPR) is currently 48.72%.

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.