Public Sector Pension Investment Board Buys 17,969 Shares of MGE Energy Inc. $MGEE

Public Sector Pension Investment Board boosted its holdings in MGE Energy Inc. (NASDAQ:MGEE) by 14.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 142,520 shares of the utilities provider’s stock after purchasing an additional 17,969 shares during the quarter. Public Sector Pension Investment Board’s holdings in MGE Energy were worth $11,997,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of MGEE. Exchange Traded Concepts LLC raised its stake in shares of MGE Energy by 160.5% in the third quarter. Exchange Traded Concepts LLC now owns 23,661 shares of the utilities provider’s stock valued at $1,992,000 after acquiring an additional 14,579 shares during the period. Osaic Holdings Inc. raised its position in MGE Energy by 84.4% in the 2nd quarter. Osaic Holdings Inc. now owns 31,499 shares of the utilities provider’s stock worth $2,786,000 after purchasing an additional 14,415 shares during the period. Yousif Capital Management LLC lifted its stake in MGE Energy by 2.0% in the second quarter. Yousif Capital Management LLC now owns 13,618 shares of the utilities provider’s stock worth $1,204,000 after purchasing an additional 267 shares during the last quarter. Summit Global Investments purchased a new position in shares of MGE Energy during the second quarter valued at approximately $1,059,000. Finally, North Star Asset Management Inc. grew its stake in shares of MGE Energy by 120.6% during the second quarter. North Star Asset Management Inc. now owns 6,245 shares of the utilities provider’s stock valued at $552,000 after buying an additional 3,414 shares during the last quarter. Institutional investors own 52.58% of the company’s stock.

MGE Energy Trading Up 2.1%

MGEE stock opened at $82.88 on Monday. The firm has a market cap of $3.03 billion, a P/E ratio of 22.46 and a beta of 0.82. MGE Energy Inc. has a 52-week low of $76.47 and a 52-week high of $95.00. The company’s 50-day simple moving average is $79.30 and its 200-day simple moving average is $82.28. The company has a quick ratio of 0.59, a current ratio of 0.91 and a debt-to-equity ratio of 0.57.

MGE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, March 15th. Shareholders of record on Sunday, March 1st will be issued a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 2.3%. The ex-dividend date is Friday, February 27th. MGE Energy’s dividend payout ratio is presently 51.49%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Morgan Stanley reduced their price target on shares of MGE Energy from $74.00 to $73.00 and set an “underweight” rating on the stock in a research note on Monday, February 2nd. Weiss Ratings restated a “hold (c+)” rating on shares of MGE Energy in a report on Monday, December 29th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $78.00.

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.