Louisiana State Employees Retirement System Invests $1.25 Million in MGE Energy Inc. $MGEE

Louisiana State Employees Retirement System purchased a new position in shares of MGE Energy Inc. (NASDAQ:MGEE) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 16,200 shares of the utilities provider’s stock, valued at approximately $1,252,000.

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

MGE Energy Stock Performance

MGE Energy stock opened at $84.23 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 0.65. MGE Energy Inc. has a 1 year low of $72.16 and a 1 year high of $90.14. The company has a market cap of $3.10 billion, a PE ratio of 21.60 and a beta of 0.71. The company’s 50-day moving average is $77.24 and its two-hundred day moving average is $78.32.

MGE Energy (NASDAQ:MGEE) last issued its earnings results on Tuesday, May 5th. The utilities provider reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.19. The company 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%. Equities analysts anticipate that MGE Energy Inc. will post 3.98 earnings per share for the current year.

MGE Energy Dividend Announcement

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

Analysts Set New Price Targets

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

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.