MGE Energy, Inc. (NASDAQ:MGEE) Shares Acquired by Inspire Investing LLC

Inspire Investing LLC boosted its stake in MGE Energy, Inc. (NASDAQ:MGEE) by 3.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,702 shares of the utilities provider’s stock after acquiring an additional 144 shares during the period. Inspire Investing LLC’s holdings in MGE Energy were worth $351,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Speece Thorson Capital Group Inc. acquired a new stake in shares of MGE Energy in the 4th quarter valued at about $6,145,000. Comerica Bank raised its stake in MGE Energy by 11,187.2% during the first quarter. Comerica Bank now owns 15,012 shares of the utilities provider’s stock valued at $1,182,000 after buying an additional 14,879 shares in the last quarter. New York State Teachers Retirement System bought a new position in MGE Energy during the 1st quarter worth approximately $934,000. Quadrature Capital Ltd grew its position in shares of MGE Energy by 122.1% in the 4th quarter. Quadrature Capital Ltd now owns 21,484 shares of the utilities provider’s stock worth $1,554,000 after acquiring an additional 11,809 shares in the last quarter. Finally, Edgestream Partners L.P. acquired a new position in shares of MGE Energy in the 1st quarter worth approximately $1,178,000. 52.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Morgan Stanley upped their price target on MGE Energy from $66.00 to $71.00 and gave the company an “underweight” rating in a research report on Friday, August 23rd. StockNews.com raised shares of MGE Energy from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th.

MGE Energy Stock Performance

Shares of MGEE stock opened at $92.42 on Tuesday. The company has a market cap of $3.34 billion, a P/E ratio of 27.84 and a beta of 0.70. The business has a 50 day moving average of $86.80 and a two-hundred day moving average of $80.86. MGE Energy, Inc. has a 52 week low of $61.94 and a 52 week high of $93.15. The company has a quick ratio of 0.90, a current ratio of 1.32 and a debt-to-equity ratio of 0.61.

MGE Energy (NASDAQ:MGEE) last issued its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.29). MGE Energy had a return on equity of 10.04% and a net margin of 17.45%. The company had revenue of $145.71 million for the quarter, compared to the consensus estimate of $151.29 million. As a group, analysts anticipate that MGE Energy, Inc. will post 3.69 EPS for the current year.

MGE Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 15th. Stockholders of record on Sunday, September 1st were given a dividend of $0.45 per share. The ex-dividend date was Friday, August 30th. This represents a $1.80 annualized dividend and a dividend yield of 1.95%. This is a positive change from MGE Energy’s previous quarterly dividend of $0.43. MGE Energy’s dividend payout ratio is currently 54.22%.

MGE Energy 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.