MGE Energy, Inc. (NASDAQ:MGEE) Shares Purchased by Quadrature Capital Ltd

Quadrature Capital Ltd raised its position in MGE Energy, Inc. (NASDAQ:MGEE) by 122.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,484 shares of the utilities provider’s stock after purchasing an additional 11,809 shares during the quarter. Quadrature Capital Ltd owned about 0.06% of MGE Energy worth $1,554,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Covestor Ltd lifted its holdings in MGE Energy by 31.6% in the third quarter. Covestor Ltd now owns 641 shares of the utilities provider’s stock worth $44,000 after purchasing an additional 154 shares during the period. Wealthspire Advisors LLC lifted its stake in shares of MGE Energy by 6.2% in the 4th quarter. Wealthspire Advisors LLC now owns 4,791 shares of the utilities provider’s stock worth $346,000 after acquiring an additional 280 shares during the period. Magellan Asset Management Ltd lifted its stake in shares of MGE Energy by 1.1% in the 3rd quarter. Magellan Asset Management Ltd now owns 25,862 shares of the utilities provider’s stock worth $1,772,000 after acquiring an additional 287 shares during the period. Foundry Partners LLC boosted its holdings in shares of MGE Energy by 7.2% in the fourth quarter. Foundry Partners LLC now owns 4,455 shares of the utilities provider’s stock valued at $322,000 after acquiring an additional 300 shares in the last quarter. Finally, MBE Wealth Management LLC increased its stake in shares of MGE Energy by 6.2% during the fourth quarter. MBE Wealth Management LLC now owns 6,805 shares of the utilities provider’s stock valued at $492,000 after acquiring an additional 398 shares during the period. Institutional investors own 52.58% of the company’s stock.

MGE Energy Stock Up 0.2 %

NASDAQ MGEE opened at $76.16 on Wednesday. MGE Energy, Inc. has a 12 month low of $61.94 and a 12 month high of $83.27. The company has a market capitalization of $2.76 billion, a P/E ratio of 22.94 and a beta of 0.73. The company’s 50 day simple moving average is $78.35 and its 200 day simple moving average is $73.84. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.09.

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

MGE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, June 15th. Stockholders of record on Saturday, June 1st were given a dividend of $0.428 per share. This represents a $1.71 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend was Friday, May 31st. MGE Energy’s dividend payout ratio (DPR) is presently 51.51%.

Analyst Ratings Changes

A number of research firms have weighed in on MGEE. Morgan Stanley upped their target price on MGE Energy from $63.00 to $68.00 and gave the stock an “underweight” rating in a research report on Tuesday, May 28th. StockNews.com raised MGE Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th.

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.