Susquehanna International Group LLP Sells 11,536 Shares of MGE Energy Inc. $MGEE

Susquehanna International Group LLP decreased its holdings in MGE Energy Inc. (NASDAQ:MGEE) by 81.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,626 shares of the utilities provider’s stock after selling 11,536 shares during the quarter. Susquehanna International Group LLP’s holdings in MGE Energy were worth $214,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of MGEE. AQR Capital Management LLC grew its stake in shares of MGE Energy by 18.8% in the first quarter. AQR Capital Management LLC now owns 8,275 shares of the utilities provider’s stock worth $769,000 after acquiring an additional 1,312 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of MGE Energy by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,707 shares of the utilities provider’s stock valued at $2,018,000 after purchasing an additional 954 shares during the last quarter. United Services Automobile Association bought a new position in MGE Energy during the first quarter valued at approximately $220,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in MGE Energy by 18.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 86,608 shares of the utilities provider’s stock valued at $8,051,000 after purchasing an additional 13,715 shares during the period. Finally, Jane Street Group LLC boosted its holdings in MGE Energy by 718.5% in the first quarter. Jane Street Group LLC now owns 75,007 shares of the utilities provider’s stock worth $6,973,000 after purchasing an additional 65,843 shares during the last quarter. Institutional investors own 52.58% of the company’s stock.

MGE Energy Price Performance

Shares of NASDAQ:MGEE opened at $77.45 on Wednesday. The firm’s 50 day moving average price is $80.81 and its 200-day moving average price is $78.77. 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 stock has a market capitalization of $2.93 billion, a PE ratio of 19.03 and a beta of 0.70. MGE Energy Inc. has a twelve month low of $72.16 and a twelve month high of $87.94.

MGE Energy (NASDAQ:MGEE) last announced its earnings results on Wednesday, August 5th. The utilities provider reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.12. The business had revenue of $161.19 million during the quarter, compared to analysts’ expectations of $166.37 million. MGE Energy had a net margin of 19.45% and a return on equity of 11.10%. Equities research analysts expect that MGE Energy Inc. will post 3.99 EPS for the current year.

MGE Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a $0.5083 dividend. This is a positive change from MGE Energy’s previous quarterly dividend of $0.47. The ex-dividend date is Tuesday, September 1st. This represents a $2.03 annualized dividend and a dividend yield of 2.6%. MGE Energy’s dividend payout ratio (DPR) is currently 46.68%.

Wall Street Analyst Weigh In

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

About MGE Energy

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.