ProShare Advisors LLC Has $419,000 Stake in MGE Energy, Inc. (NASDAQ:MGEE)

ProShare Advisors LLC trimmed its position in MGE Energy, Inc. (NASDAQ:MGEE) by 23.6% during the second quarter, HoldingsChannel.com reports. The firm owned 5,613 shares of the utilities provider’s stock after selling 1,738 shares during the quarter. ProShare Advisors LLC’s holdings in MGE Energy were worth $419,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Inspire Investing LLC lifted its stake in MGE Energy by 3.2% in the 2nd quarter. Inspire Investing LLC now owns 4,702 shares of the utilities provider’s stock valued at $351,000 after acquiring an additional 144 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in shares of MGE Energy by 31.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 4,164 shares of the utilities provider’s stock valued at $311,000 after purchasing an additional 999 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its position in shares of MGE Energy by 18.4% in the second quarter. Mercer Global Advisors Inc. ADV now owns 12,580 shares of the utilities provider’s stock worth $940,000 after purchasing an additional 1,953 shares in the last quarter. Madison Wealth Partners Inc boosted its holdings in MGE Energy by 5.5% during the second quarter. Madison Wealth Partners Inc now owns 31,306 shares of the utilities provider’s stock worth $2,339,000 after purchasing an additional 1,641 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in MGE Energy by 2.7% in the second quarter. Dimensional Fund Advisors LP now owns 783,396 shares of the utilities provider’s stock valued at $58,536,000 after purchasing an additional 20,533 shares in the last quarter. 52.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley increased their price objective on shares of MGE Energy from $71.00 to $74.00 and gave the stock an “underweight” rating in a research note on Wednesday, September 25th.

MGE Energy Stock Up 0.4 %

NASDAQ:MGEE opened at $91.83 on Wednesday. MGE Energy, Inc. has a twelve month low of $61.94 and a twelve month high of $93.15. The firm has a market capitalization of $3.32 billion, a price-to-earnings ratio of 27.66 and a beta of 0.70. The company has a quick ratio of 0.90, a current ratio of 1.32 and a debt-to-equity ratio of 0.61. The stock’s 50 day moving average price is $87.49 and its two-hundred day moving average price is $81.33.

MGE Energy (NASDAQ:MGEE) last issued its earnings results on Wednesday, August 7th. The utilities provider reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.29). The firm had revenue of $145.71 million for the quarter, compared to analyst estimates of $151.29 million. MGE Energy had a return on equity of 10.04% and a net margin of 17.45%. Equities research analysts expect that MGE Energy, Inc. will post 3.69 earnings per share for the current fiscal year.

MGE Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 15th. Investors of record on Sunday, September 1st were paid a $0.45 dividend. This is an increase from MGE Energy’s previous quarterly dividend of $0.43. This represents a $1.80 annualized dividend and a yield of 1.96%. The ex-dividend date was Friday, August 30th. MGE Energy’s dividend payout ratio (DPR) is 54.22%.

MGE Energy 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.