Quest Partners LLC Purchases 458 Shares of MGE Energy, Inc. (NASDAQ:MGEE)

Quest Partners LLC boosted its position in MGE Energy, Inc. (NASDAQ:MGEE) by 5,088.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 467 shares of the utilities provider’s stock after purchasing an additional 458 shares during the quarter. Quest Partners LLC’s holdings in MGE Energy were worth $35,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of MGE Energy by 12.4% in the first quarter. Vanguard Group Inc. now owns 4,699,072 shares of the utilities provider’s stock worth $369,911,000 after buying an additional 518,466 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of MGE Energy by 0.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 759,044 shares of the utilities provider’s stock valued at $54,887,000 after acquiring an additional 7,085 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of MGE Energy by 3.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 444,057 shares of the utilities provider’s stock valued at $33,180,000 after acquiring an additional 15,522 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of MGE Energy by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 378,940 shares of the utilities provider’s stock valued at $27,401,000 after acquiring an additional 5,544 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of MGE Energy by 3.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 346,922 shares of the utilities provider’s stock worth $25,086,000 after purchasing an additional 10,822 shares in the last quarter. 52.58% of the stock is currently owned by hedge funds and other institutional investors.

MGE Energy Stock Down 0.1 %

Shares of MGEE opened at $90.70 on Friday. MGE Energy, Inc. has a 1 year low of $61.94 and a 1 year high of $93.15. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.32 and a quick ratio of 0.90. The stock has a 50 day simple moving average of $86.07 and a two-hundred day simple moving average of $80.58. The firm has a market cap of $3.28 billion, a P/E ratio of 27.32 and a beta of 0.70.

MGE Energy (NASDAQ:MGEE) last announced its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.29). The business had revenue of $145.71 million during the quarter, compared to analysts’ expectations of $151.29 million. MGE Energy had a net margin of 17.45% and a return on equity of 10.04%. On average, analysts forecast that MGE Energy, Inc. will post 3.69 earnings per share for the current fiscal year.

MGE Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 15th. Stockholders of record on Sunday, September 1st were issued a $0.45 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.80 annualized dividend and a dividend yield of 1.98%. This is an increase from MGE Energy’s previous quarterly dividend of $0.43. MGE Energy’s payout ratio is currently 54.22%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on MGEE shares. StockNews.com raised shares of MGE Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. Morgan Stanley increased their target price on MGE Energy from $66.00 to $71.00 and gave the company an “underweight” rating in a research note on Friday, August 23rd.

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.