SG Americas Securities LLC Acquires 2,088 Shares of MGE Energy Inc. $MGEE

SG Americas Securities LLC boosted its holdings in MGE Energy Inc. (NASDAQ:MGEE) by 58.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,657 shares of the utilities provider’s stock after purchasing an additional 2,088 shares during the quarter. SG Americas Securities LLC’s holdings in MGE Energy were worth $500,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in MGEE. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of MGE Energy in the 1st quarter worth approximately $471,000. Cetera Investment Advisers boosted its holdings in MGE Energy by 7.0% in the first quarter. Cetera Investment Advisers now owns 29,173 shares of the utilities provider’s stock worth $2,712,000 after acquiring an additional 1,905 shares in the last quarter. LPL Financial LLC grew its stake in shares of MGE Energy by 4.5% in the first quarter. LPL Financial LLC now owns 24,305 shares of the utilities provider’s stock worth $2,259,000 after acquiring an additional 1,038 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of MGE Energy in the first quarter worth $306,000. Finally, Harbour Investments Inc. increased its holdings in shares of MGE Energy by 8.7% during the first quarter. Harbour Investments Inc. now owns 67,285 shares of the utilities provider’s stock valued at $6,255,000 after acquiring an additional 5,402 shares in the last quarter. 52.58% of the stock is currently owned by hedge funds and other institutional investors.

MGE Energy Price Performance

MGEE opened at $82.71 on Thursday. The company’s 50-day simple moving average is $83.76 and its two-hundred day simple moving average is $86.01. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.20 and a current ratio of 1.80. The stock has a market capitalization of $3.02 billion, a P/E ratio of 22.98 and a beta of 0.81. MGE Energy Inc. has a 52-week low of $80.67 and a 52-week high of $105.81.

MGE Energy (NASDAQ:MGEE) last released its quarterly earnings data on Wednesday, November 5th. The utilities provider reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.03. The firm had revenue of $175.68 million during the quarter. MGE Energy had a net margin of 18.24% and a return on equity of 10.58%. As a group, analysts predict that MGE Energy Inc. will post 3.43 EPS for the current year.

MGE Energy Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on MGEE shares. Morgan Stanley reiterated an “underweight” rating on shares of MGE Energy in a research note on Wednesday, October 22nd. LADENBURG THALM/SH SH upgraded shares of MGE Energy from a “sell” rating to a “neutral” rating and increased their price target for the company from $69.00 to $83.00 in a report on Thursday, September 11th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of MGE Energy in a report on Tuesday. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $79.00.

About MGE Energy

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.