Intech Investment Management LLC Sells 3,880 Shares of MGE Energy Inc. $MGEE

Intech Investment Management LLC trimmed its holdings in shares of MGE Energy Inc. (NASDAQ:MGEE) by 18.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 16,897 shares of the utilities provider’s stock after selling 3,880 shares during the period. Intech Investment Management LLC’s holdings in MGE Energy were worth $1,494,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of MGEE. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of MGE Energy during the first quarter valued at $471,000. Royce & Associates LP lifted its stake in MGE Energy by 31.5% during the 1st quarter. Royce & Associates LP now owns 21,404 shares of the utilities provider’s stock valued at $1,990,000 after acquiring an additional 5,123 shares during the period. Cetera Investment Advisers lifted its stake in MGE Energy by 7.0% during the 1st quarter. Cetera Investment Advisers now owns 29,173 shares of the utilities provider’s stock valued at $2,712,000 after acquiring an additional 1,905 shares during the period. LPL Financial LLC boosted its holdings in shares of MGE Energy by 4.5% during the 1st quarter. LPL Financial LLC now owns 24,305 shares of the utilities provider’s stock valued at $2,259,000 after acquiring an additional 1,038 shares during the last quarter. Finally, MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of MGE Energy in the first quarter worth approximately $139,000. Hedge funds and other institutional investors own 52.58% of the company’s stock.

Wall Street Analyst Weigh In

MGEE has been the topic of a number of research analyst reports. LADENBURG THALM/SH SH upgraded shares of MGE Energy from a “sell” rating to a “neutral” rating and increased their price objective for the company from $69.00 to $83.00 in a research report on Thursday, September 11th. Morgan Stanley reissued an “underweight” rating on shares of MGE Energy in a report on Wednesday, October 22nd. Wall Street Zen lowered MGE Energy from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Finally, Weiss Ratings cut MGE Energy from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, MGE Energy has an average rating of “Reduce” and a consensus price target of $79.00.

MGE Energy Trading Up 1.8%

Shares of MGE Energy stock opened at $82.48 on Friday. MGE Energy Inc. has a 1-year low of $80.67 and a 1-year high of $106.76. The company’s fifty day simple moving average is $83.86 and its 200-day simple moving average is $86.19. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.80 and a quick ratio of 1.20. The stock has a market capitalization of $3.01 billion, a PE ratio of 22.91 and a beta of 0.81.

MGE Energy (NASDAQ:MGEE) last announced its earnings results on Wednesday, November 5th. The utilities provider reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.03. MGE Energy had a return on equity of 10.58% and a net margin of 18.24%.The company had revenue of $175.68 million for the quarter. As a group, equities analysts anticipate that MGE Energy Inc. will post 3.43 earnings per share for the current year.

MGE Energy Announces Dividend

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

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.