Deutsche Bank AG Makes New $4.16 Million Investment in MGE Energy Inc. $MGEE

Deutsche Bank AG purchased a new position in shares of MGE Energy Inc. (NASDAQ:MGEE) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 51,012 shares of the utilities provider’s stock, valued at approximately $4,160,000.

Other hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC grew its stake in shares of MGE Energy by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 921,952 shares of the utilities provider’s stock valued at $72,315,000 after acquiring an additional 3,692 shares during the period. Bank of New York Mellon Corp bought a new stake in MGE Energy during the 2nd quarter worth approximately $27,087,000. Deprince Race & Zollo Inc. bought a new stake in MGE Energy during the 1st quarter worth approximately $21,418,000. Invesco Ltd. lifted its holdings in MGE Energy by 14.3% during the second quarter. Invesco Ltd. now owns 238,747 shares of the utilities provider’s stock valued at $21,115,000 after purchasing an additional 29,811 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of MGE Energy by 9.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 216,173 shares of the utilities provider’s stock worth $16,952,000 after purchasing an additional 18,877 shares during the period. Institutional investors own 52.58% of the company’s stock.

MGE Energy Stock Performance

Shares of NASDAQ MGEE opened at $79.01 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.79 and a current ratio of 1.14. The company has a market cap of $2.98 billion, a P/E ratio of 19.41 and a beta of 0.71. The firm’s fifty day moving average is $80.61 and its two-hundred day moving average is $78.82. MGE Energy Inc. has a 52-week low of $72.16 and a 52-week high of $88.01.

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

MGE Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.5083 per share. This represents a $2.03 dividend on an annualized basis and a yield of 2.6%. This is a boost from MGE Energy’s previous quarterly dividend of $0.47. The ex-dividend date is Tuesday, September 1st. MGE Energy’s dividend payout ratio (DPR) is currently 46.68%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MGEE. 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 note on Monday, June 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MGE Energy in a report on Wednesday, August 5th. Finally, Morgan Stanley cut their price target on MGE Energy from $76.00 to $74.00 and set an “underweight” rating for the company in a research note on Friday, August 21st. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, MGE Energy has an average rating of “Hold” and a consensus target price of $77.50.

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.