Advisors Asset Management Inc. Has $1.12 Million Holdings in MGE Energy Inc. $MGEE

Advisors Asset Management Inc. increased its position in shares of MGE Energy Inc. (NASDAQ:MGEE) by 20.9% in the second quarter, Holdings Channel.com reports. The institutional investor owned 12,692 shares of the utilities provider’s stock after buying an additional 2,198 shares during the period. Advisors Asset Management Inc.’s holdings in MGE Energy were worth $1,122,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of MGEE. Hilltop National Bank acquired a new stake in MGE Energy during the 2nd quarter worth about $41,000. Steward Partners Investment Advisory LLC grew its stake in MGE Energy by 107.3% during the second quarter. Steward Partners Investment Advisory LLC now owns 485 shares of the utilities provider’s stock worth $43,000 after purchasing an additional 251 shares during the period. Private Trust Co. NA bought a new stake in MGE Energy in the second quarter worth approximately $45,000. Thurston Springer Miller Herd & Titak Inc. lifted its stake in MGE Energy by 47.3% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 526 shares of the utilities provider’s stock valued at $47,000 after buying an additional 169 shares during the period. Finally, eCIO Inc. acquired a new position in MGE Energy in the first quarter valued at approximately $53,000. Institutional investors own 52.58% of the company’s stock.

MGE Energy Stock Performance

MGEE opened at $82.80 on Monday. MGE Energy Inc. has a 1-year low of $80.67 and a 1-year high of $105.81. The company has a market cap of $3.03 billion, a price-to-earnings ratio of 23.00 and a beta of 0.81. The company’s fifty day moving average price is $83.70 and its two-hundred day moving average price is $85.87. The company has a current ratio of 1.80, a quick ratio of 1.20 and a debt-to-equity ratio of 0.60.

MGE Energy (NASDAQ:MGEE) last issued its quarterly earnings data on Wednesday, November 5th. The utilities provider reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.03. MGE Energy had a net margin of 18.24% and a return on equity of 10.58%. The firm had revenue of $175.68 million during the quarter. On average, analysts expect that MGE Energy Inc. will post 3.43 EPS for the current fiscal year.

MGE Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Monday, December 1st. MGE Energy’s payout ratio is currently 51.49%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MGEE. LADENBURG THALM/SH SH raised shares of MGE Energy from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $69.00 to $83.00 in a research report on Thursday, September 11th. Weiss Ratings restated a “hold (c+)” rating on shares of MGE Energy in a report on Tuesday, November 25th. Finally, Morgan Stanley reaffirmed an “underweight” rating on shares of MGE Energy in a research note on Wednesday, October 22nd. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, MGE Energy has an average rating of “Reduce” and an average price target of $79.00.

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.