SG Americas Securities LLC Acquires 20,987 Shares of MGE Energy Inc. $MGEE

SG Americas Securities LLC raised its holdings in shares of MGE Energy Inc. (NASDAQ:MGEE) by 182.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 32,477 shares of the utilities provider’s stock after acquiring an additional 20,987 shares during the period. SG Americas Securities LLC owned approximately 0.09% of MGE Energy worth $2,510,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in MGEE. Parallel Advisors LLC grew its stake in shares of MGE Energy by 28.6% during the third quarter. Parallel Advisors LLC now owns 714 shares of the utilities provider’s stock worth $60,000 after purchasing an additional 159 shares during the period. LPL Financial LLC boosted its holdings in MGE Energy by 0.8% during the fourth quarter. LPL Financial LLC now owns 21,178 shares of the utilities provider’s stock worth $1,661,000 after buying an additional 159 shares during the last quarter. Hantz Financial Services Inc. grew its position in shares of MGE Energy by 63.8% during the 4th quarter. Hantz Financial Services Inc. now owns 416 shares of the utilities provider’s stock worth $33,000 after buying an additional 162 shares during the period. Oregon Public Employees Retirement Fund grew its position in shares of MGE Energy by 2.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 8,361 shares of the utilities provider’s stock worth $656,000 after buying an additional 168 shares during the period. Finally, J.W. Cole Advisors Inc. increased its stake in shares of MGE Energy by 4.0% in the 4th quarter. J.W. Cole Advisors Inc. now owns 4,441 shares of the utilities provider’s stock valued at $348,000 after acquiring an additional 169 shares during the last quarter. Institutional investors and hedge funds own 52.58% of the company’s stock.

Wall Street Analyst Weigh In

MGEE has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of MGE Energy in a research report on Friday, May 8th. Wall Street Zen raised MGE Energy from a “sell” rating to a “hold” rating in a research note on Sunday, March 8th. LADENBURG THALM/SH SH upgraded MGE Energy from a “neutral” rating to a “buy” rating and set a $81.00 target price on the stock in a report on Monday, June 8th. Finally, Morgan Stanley reissued an “underweight” rating on shares of MGE Energy in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $75.50.

MGE Energy Trading Down 0.5%

NASDAQ:MGEE opened at $81.11 on Thursday. The company has a market cap of $2.98 billion, a P/E ratio of 20.80 and a beta of 0.71. MGE Energy Inc. has a twelve month low of $72.16 and a twelve month high of $90.14. The business has a 50 day moving average price of $77.02 and a two-hundred day moving average price of $78.25. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 0.65.

MGE Energy (NASDAQ:MGEE) last announced its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.19. The business had revenue of $242.70 million for the quarter, compared to analyst estimates of $227.06 million. MGE Energy had a net margin of 18.61% and a return on equity of 10.94%. As a group, analysts expect that MGE Energy Inc. will post 3.98 EPS for the current fiscal year.

MGE Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were paid a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Monday, June 1st. MGE Energy’s dividend payout ratio is currently 48.72%.

MGE Energy Profile

MGE Energy, Inc is a public utility holding company headquartered in Madison, Wisconsin. Through its principal subsidiary, Madison Gas and Electric Company (MGE), the company provides regulated electric and natural gas distribution services to residential, commercial and industrial customers in south-central Wisconsin. MGE Energy’s operations encompass the generation, transmission and distribution of electricity as well as the purchase and distribution of natural gas, with an emphasis on reliable service and system resilience.

Since reorganizing as a holding company in 2001, MGE Energy has expanded its portfolio to include nonregulated subsidiaries involved in renewable energy development, energy services and infrastructure support.