Alliancebernstein L.P. Purchases 630 Shares of MGE Energy Inc. (MGEE)
Alliancebernstein L.P. raised its position in MGE Energy Inc. (NASDAQ:MGEE) by 0.7% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 86,140 shares of the utilities provider’s stock after buying an additional 630 shares during the quarter. Alliancebernstein L.P. owned about 0.25% of MGE Energy worth $5,543,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently made changes to their positions in MGEE. Prudential Financial Inc. increased its stake in MGE Energy by 85.7% in the 2nd quarter. Prudential Financial Inc. now owns 97,139 shares of the utilities provider’s stock valued at $6,250,000 after buying an additional 44,830 shares during the period. Marshall Wace North America L.P. acquired a new position in MGE Energy in the 2nd quarter valued at $1,157,000. Wells Fargo & Company MN increased its stake in MGE Energy by 15.4% in the 2nd quarter. Wells Fargo & Company MN now owns 72,807 shares of the utilities provider’s stock valued at $4,686,000 after buying an additional 9,692 shares during the period. Principal Financial Group Inc. increased its stake in MGE Energy by 45.7% in the 2nd quarter. Principal Financial Group Inc. now owns 17,753 shares of the utilities provider’s stock valued at $1,143,000 after buying an additional 5,566 shares during the period. Finally, BNP Paribas Arbitrage SA increased its stake in MGE Energy by 620.9% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 6,128 shares of the utilities provider’s stock valued at $394,000 after buying an additional 5,278 shares during the period. 37.25% of the stock is currently owned by institutional investors.
Several equities analysts have issued reports on MGEE shares. BidaskClub raised shares of MGE Energy from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th. Zacks Investment Research cut shares of MGE Energy from a “hold” rating to a “sell” rating in a research note on Friday, July 14th.
In related news, insider Jeffrey M. Keebler bought 547 shares of the company’s stock in a transaction on Tuesday, September 5th. The shares were purchased at an average cost of $64.02 per share, with a total value of $35,018.94. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is owned by company insiders.
MGE Energy Inc. (NASDAQ:MGEE) opened at 64.60 on Friday. The firm has a 50-day moving average of $64.79 and a 200 day moving average of $64.69. The firm has a market capitalization of $2.24 billion, a PE ratio of 28.99 and a beta of 0.36. MGE Energy Inc. has a 52 week low of $53.48 and a 52 week high of $68.70.
MGE Energy (NASDAQ:MGEE) last issued its earnings results on Friday, August 4th. The utilities provider reported $0.45 earnings per share for the quarter. MGE Energy had a return on equity of 10.60% and a net margin of 13.82%. The firm had revenue of $126.46 million for the quarter. Analysts predict that MGE Energy Inc. will post $2.30 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were given a $0.3225 dividend. The ex-dividend date of this dividend was Wednesday, August 30th. This is a positive change from MGE Energy’s previous quarterly dividend of $0.31. This represents a $1.29 annualized dividend and a yield of 2.00%. MGE Energy’s dividend payout ratio (DPR) is currently 57.85%.
MGE Energy Profile
MGE Energy, Inc (MGE) is a public utility holding company. The Company operates through five segments: Regulated electric utility operations; Regulated gas utility operations; Nonregulated energy operations; Transmission investments, and All other. The Regulated electric utility operations segment is engaged in generating, purchasing and distributing electricity through Madison Gas and Electric Company (MGE).
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