10,379 Shares in MGE Energy Inc. $MGEE Bought by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. bought a new position in shares of MGE Energy Inc. (NASDAQ:MGEE) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 10,379 shares of the utilities provider’s stock, valued at approximately $846,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. bought a new position in MGE Energy during the 2nd quarter worth approximately $496,897,000. Bank of New York Mellon Corp bought a new stake in shares of MGE Energy in the 2nd quarter valued at $27,087,000. Deprince Race & Zollo Inc. bought a new stake in shares of MGE Energy in the 1st quarter valued at $21,418,000. Qube Research & Technologies Ltd increased its position in shares of MGE Energy by 167.5% during the third 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 period. Finally, Jane Street Group LLC increased its position in shares of MGE Energy by 718.5% during the first quarter. Jane Street Group LLC now owns 75,007 shares of the utilities provider’s stock worth $6,973,000 after buying an additional 65,843 shares during the period. 52.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MGEE has been the topic of several recent analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of MGE Energy in a report on Wednesday, August 5th. Morgan Stanley lowered their price objective on MGE Energy from $76.00 to $74.00 and set an “underweight” rating for the company in a research report on Friday, August 21st. Finally, LADENBURG THALM/SH SH raised MGE Energy from a “neutral” rating to a “buy” rating and set a $81.00 price objective on the stock in a research note on Monday, June 8th. One 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $77.50.

MGE Energy Stock Performance

Shares of MGEE stock opened at $79.01 on Wednesday. The firm has a 50 day moving average of $80.61 and a 200-day moving average of $78.82. The company has a market cap of $2.98 billion, a price-to-earnings ratio of 19.41 and a beta of 0.71. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.61. 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 earnings results on Wednesday, August 5th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.12. The company had revenue of $161.19 million for 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%. On average, equities analysts forecast that MGE Energy Inc. will post 3.99 earnings per share for the current year.

MGE Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a $0.5083 dividend. This represents a $2.03 annualized dividend and a yield of 2.6%. This is an increase from MGE Energy’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Tuesday, September 1st. MGE Energy’s payout ratio is presently 46.68%.

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.