Creative Planning Boosts Holdings in MGE Energy, Inc. (NASDAQ:MGEE)

Creative Planning raised its holdings in shares of MGE Energy, Inc. (NASDAQ:MGEE) by 3.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,517 shares of the utilities provider’s stock after acquiring an additional 284 shares during the quarter. Creative Planning’s holdings in MGE Energy were worth $779,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Quest Partners LLC increased its holdings in 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 in the last quarter. GAMMA Investing LLC increased its holdings in MGE Energy by 244.6% during the 2nd quarter. GAMMA Investing LLC now owns 672 shares of the utilities provider’s stock valued at $50,000 after acquiring an additional 477 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in MGE Energy during the 2nd quarter valued at about $58,000. Covestor Ltd increased its holdings in MGE Energy by 43.3% during the 1st quarter. Covestor Ltd now owns 794 shares of the utilities provider’s stock valued at $63,000 after acquiring an additional 240 shares in the last quarter. Finally, nVerses Capital LLC purchased a new position in MGE Energy during the 2nd quarter valued at about $75,000. 52.58% of the stock is currently owned by hedge funds and other institutional investors.

MGE Energy Price Performance

MGE Energy stock opened at $88.55 on Friday. MGE Energy, Inc. has a 12-month low of $61.94 and a 12-month high of $94.57. The stock has a market capitalization of $3.20 billion, a P/E ratio of 27.76 and a beta of 0.71. The firm’s 50-day moving average is $89.88 and its two-hundred day moving average is $83.61. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.32 and a quick ratio of 0.90.

MGE Energy (NASDAQ:MGEE) last released 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 firm had revenue of $145.71 million for the quarter, compared to analyst estimates of $151.29 million. Equities analysts predict that MGE Energy, Inc. will post 3.69 earnings per share for the current year.

MGE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be given a $0.45 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.80 annualized dividend and a dividend yield of 2.03%. MGE Energy’s dividend payout ratio is presently 56.43%.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley raised their target price on shares of MGE Energy from $71.00 to $74.00 and gave the company an “underweight” rating in a report on Wednesday, September 25th.

About MGE Energy

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.