Capstone Investment Advisors LLC Buys New Position in MGE Energy Inc. $MGEE

Capstone Investment Advisors LLC purchased a new position in shares of MGE Energy Inc. (NASDAQ:MGEE) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 9,845 shares of the utilities provider’s stock, valued at approximately $803,000.

Several other hedge funds have also recently added to or reduced their stakes in MGEE. BlackRock Inc. acquired a new position in shares of MGE Energy in the 2nd quarter worth approximately $496,897,000. Bank of New York Mellon Corp acquired a new stake in shares of MGE Energy during the second quarter worth $27,087,000. Deprince Race & Zollo Inc. acquired a new stake in shares of MGE Energy during the first quarter worth $21,418,000. Legal & General Group Plc bought a new position in MGE Energy during the second quarter worth $15,443,000. Finally, Qube Research & Technologies Ltd raised its stake in MGE Energy by 167.5% during the third quarter. Qube Research & Technologies Ltd now owns 162,217 shares of the utilities provider’s stock worth $13,655,000 after buying an additional 101,586 shares during the last quarter. Institutional investors own 52.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MGEE. LADENBURG THALM/SH SH raised shares of MGE Energy from a “neutral” rating to a “buy” rating and set a $81.00 price target on the stock in a research report on Monday, June 8th. Weiss Ratings reissued a “hold (c)” rating on shares of MGE Energy in a research report on Wednesday, August 5th. Finally, Morgan Stanley dropped their price objective on MGE Energy from $76.00 to $74.00 and set an “underweight” rating on the stock in a research note on Friday, August 21st. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $77.50.

MGE Energy Stock Performance

Shares of MGEE stock opened at $78.15 on Friday. The company has a market cap of $2.95 billion, a price-to-earnings ratio of 19.20 and a beta of 0.71. MGE Energy Inc. has a 52 week low of $72.16 and a 52 week high of $87.94. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.61. The firm has a 50 day moving average of $80.77 and a 200-day moving average of $78.80.

MGE Energy (NASDAQ:MGEE) last released its quarterly earnings data on Wednesday, August 5th. The utilities provider reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.12. MGE Energy had a net margin of 19.45% and a return on equity of 11.10%. The company had revenue of $161.19 million during the quarter, compared to analyst estimates of $166.37 million. On average, equities analysts forecast that MGE Energy Inc. will post 3.99 earnings per share for the current year.

MGE Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a $0.5083 dividend. This represents a $2.03 annualized dividend and a yield of 2.6%. This is an increase from MGE Energy’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Tuesday, September 1st. MGE Energy’s payout ratio is presently 46.68%.

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.