ProShare Advisors LLC Has $419,000 Stake in MGE Energy, Inc. (NASDAQ:MGEE)

ProShare Advisors LLC reduced its holdings in MGE Energy, Inc. (NASDAQ:MGEE) by 23.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,613 shares of the utilities provider’s stock after selling 1,738 shares during the period. ProShare Advisors LLC’s holdings in MGE Energy were worth $419,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Quest Partners LLC raised its position in shares of MGE Energy by 5,088.9% during the 2nd quarter. Quest Partners LLC now owns 467 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 458 shares during the last quarter. Security National Bank bought a new stake in MGE Energy in the fourth quarter valued at about $43,000. GAMMA Investing LLC lifted its stake in MGE Energy by 244.6% in the second quarter. GAMMA Investing LLC now owns 672 shares of the utilities provider’s stock valued at $50,000 after buying an additional 477 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in shares of MGE Energy during the 2nd quarter worth about $58,000. Finally, Covestor Ltd grew its position in shares of MGE Energy by 43.3% during the 1st quarter. Covestor Ltd now owns 794 shares of the utilities provider’s stock worth $63,000 after buying an additional 240 shares during the period. 52.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Morgan Stanley lifted their price objective on shares of MGE Energy from $71.00 to $74.00 and gave the stock an “underweight” rating in a research note on Wednesday, September 25th.

MGE Energy Price Performance

MGEE opened at $91.83 on Wednesday. The stock has a market cap of $3.32 billion, a P/E ratio of 27.66 and a beta of 0.70. MGE Energy, Inc. has a 12 month low of $61.94 and a 12 month 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. The company has a fifty day simple moving average of $87.49 and a 200 day simple moving average of $81.33.

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

MGE Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st were issued a dividend of $0.45 per share. This is an increase from MGE Energy’s previous quarterly dividend of $0.43. This represents a $1.80 annualized dividend and a yield of 1.96%. The ex-dividend date was Friday, August 30th. MGE Energy’s dividend payout ratio (DPR) is 54.22%.

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.