Capstone Investment Advisors LLC Takes Position in MGE Energy Inc. $MGEE

Capstone Investment Advisors LLC acquired a new position in shares of MGE Energy Inc. (NASDAQ:MGEE) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 9,845 shares of the utilities provider’s stock, valued at approximately $803,000.

A number of other institutional investors have also added to or reduced their stakes in MGEE. Hantz Financial Services Inc. boosted its position in MGE Energy by 63.8% in the fourth quarter. Hantz Financial Services Inc. now owns 416 shares of the utilities provider’s stock valued at $33,000 after buying an additional 162 shares in the last quarter. Advisory Services Network LLC acquired a new position in shares of MGE Energy during the third quarter worth $40,000. Avalon Trust Co bought a new position in shares of MGE Energy in the 2nd quarter valued at $49,000. Parallel Advisors LLC lifted its stake in shares of MGE Energy by 28.6% in the 3rd quarter. Parallel Advisors LLC now owns 714 shares of the utilities provider’s stock valued at $60,000 after acquiring an additional 159 shares during the last quarter. Finally, Versant Capital Management Inc boosted its holdings in shares of MGE Energy by 60.3% during the 2nd quarter. Versant Capital Management Inc now owns 744 shares of the utilities provider’s stock valued at $61,000 after acquiring an additional 280 shares in the last quarter. 52.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

MGE Energy Price Performance

MGEE stock opened at $78.15 on Friday. The company has a fifty day moving average price of $80.77 and a 200-day moving average price of $78.80. The company has a market capitalization of $2.95 billion, a P/E ratio of 19.20 and a beta of 0.71. MGE Energy Inc. has a 52-week low of $72.16 and a 52-week high of $87.94. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.79 and a current ratio of 1.14.

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

MGE Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.5083 per share. This represents a $2.03 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Tuesday, September 1st. This is a boost from MGE Energy’s previous quarterly dividend of $0.47. MGE Energy’s dividend payout ratio (DPR) is presently 46.68%.

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.