Johnson Financial Group Inc. raised its stake in MGE Energy Inc. (NASDAQ:MGEE) by 0.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,923 shares of the utilities provider’s stock after acquiring an additional 27 shares during the quarter. Johnson Financial Group Inc.’s holdings in MGE Energy were worth $960,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Prudential Financial Inc. raised its holdings in MGE Energy by 85.7% in the 2nd quarter. Prudential Financial Inc. now owns 97,139 shares of the utilities provider’s stock valued at $6,250,000 after buying an additional 44,830 shares during the last quarter. Marshall Wace North America L.P. bought a new position in MGE Energy in the 2nd quarter valued at approximately $1,157,000. Wells Fargo & Company MN increased its position in MGE Energy by 15.4% during the 2nd quarter. Wells Fargo & Company MN now owns 72,807 shares of the utilities provider’s stock valued at $4,686,000 after purchasing an additional 9,692 shares during the period. Principal Financial Group Inc. increased its position in MGE Energy by 45.7% during the 2nd quarter. Principal Financial Group Inc. now owns 17,753 shares of the utilities provider’s stock valued at $1,143,000 after purchasing an additional 5,566 shares during the period. Finally, BNP Paribas Arbitrage SA increased its position in MGE Energy by 620.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 6,128 shares of the utilities provider’s stock valued at $394,000 after purchasing an additional 5,278 shares during the period. 37.47% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Jeffrey M. Keebler purchased 547 shares of the stock in a transaction that occurred on Tuesday, September 5th. The shares were purchased at an average price of $64.02 per share, with a total value of $35,018.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.20% of the company’s stock.
A number of analysts have weighed in on the stock. BidaskClub downgraded shares of MGE Energy from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 17th. Zacks Investment Research raised shares of MGE Energy from a “sell” rating to a “hold” rating in a research report on Thursday, September 7th.
Shares of MGE Energy Inc. (NASDAQ:MGEE) traded up 0.61% during trading on Friday, hitting $65.95. The company had a trading volume of 76,639 shares. The company’s 50 day moving average is $64.85 and its 200 day moving average is $64.65. The firm has a market capitalization of $2.29 billion, a P/E ratio of 29.60 and a beta of 0.36. MGE Energy Inc. has a 1-year low of $53.48 and a 1-year high of $68.70.
MGE Energy (NASDAQ:MGEE) last posted its earnings results on Friday, August 4th. The utilities provider reported $0.45 EPS for the quarter. MGE Energy had a return on equity of 10.60% and a net margin of 13.82%. The business had revenue of $126.46 million for the quarter. Analysts anticipate that MGE Energy Inc. will post $2.30 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a dividend of $0.3225 per share. The ex-dividend date is Wednesday, August 30th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 1.97%. This is a positive change from MGE Energy’s previous quarterly dividend of $0.31. MGE Energy’s dividend payout ratio (DPR) is currently 57.85%.
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About MGE Energy
MGE Energy, Inc (MGE) is a public utility holding company. The Company operates through five segments: Regulated electric utility operations; Regulated gas utility operations; Nonregulated energy operations; Transmission investments, and All other. The Regulated electric utility operations segment is engaged in generating, purchasing and distributing electricity through Madison Gas and Electric Company (MGE).
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