SVA Plumb Wealth Management LLC raised its holdings in shares of MGE Energy Inc. (NASDAQ:MGEE) by 15.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,279 shares of the utilities provider’s stock after purchasing an additional 1,768 shares during the period. SVA Plumb Wealth Management LLC’s holdings in MGE Energy were worth $855,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Schwab Charles Investment Management Inc. increased its stake in shares of MGE Energy by 1.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 195,440 shares of the utilities provider’s stock valued at $12,577,000 after purchasing an additional 3,017 shares in the last quarter. Prudential Financial Inc. increased its stake in shares of MGE Energy by 85.7% during the second quarter. Prudential Financial Inc. now owns 97,139 shares of the utilities provider’s stock valued at $6,250,000 after purchasing an additional 44,830 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of MGE Energy by 0.7% during the second quarter. Alliancebernstein L.P. now owns 86,140 shares of the utilities provider’s stock valued at $5,543,000 after purchasing an additional 630 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of MGE Energy by 15.4% during the second quarter. Wells Fargo & Company MN now owns 72,807 shares of the utilities provider’s stock valued at $4,686,000 after purchasing an additional 9,692 shares in the last quarter. Finally, Swiss National Bank increased its stake in shares of MGE Energy by 2.3% during the second quarter. Swiss National Bank now owns 58,250 shares of the utilities provider’s stock valued at $3,748,000 after purchasing an additional 1,300 shares in the last quarter. 37.47% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have weighed in on MGEE. BidaskClub downgraded shares of MGE Energy from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 17th. Zacks Investment Research raised shares of MGE Energy from a “sell” rating to a “hold” rating in a research note on Thursday, September 7th.
Shares of MGE Energy Inc. (NASDAQ MGEE) traded down 1.00% during trading on Tuesday, hitting $64.50. 5,794 shares of the company’s stock were exchanged. The stock has a market cap of $2.24 billion, a P/E ratio of 28.95 and a beta of 0.36. The firm has a 50-day moving average price of $64.99 and a 200-day moving average price of $64.65. MGE Energy Inc. has a one year low of $53.48 and a one year high of $68.70.
MGE Energy (NASDAQ:MGEE) last posted its earnings results on Friday, August 4th. The utilities provider reported $0.45 EPS for the quarter. MGE Energy had a net margin of 13.82% and a return on equity of 10.60%. The company had revenue of $126.46 million during the quarter. Equities research analysts expect that MGE Energy Inc. will post $2.30 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a dividend of $0.3225 per share. This is a boost from MGE Energy’s previous quarterly dividend of $0.31. The ex-dividend date is Wednesday, August 30th. This represents a $1.29 dividend on an annualized basis and a yield of 1.98%. MGE Energy’s dividend payout ratio is presently 57.85%.
In other news, insider Jeffrey M. Keebler bought 547 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The stock was bought at an average price of $64.02 per share, with a total value of $35,018.94. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.20% of the company’s stock.
About MGE Energy
MGE Energy, Inc (MGE) is a public utility holding company. The Company operates through five segments: Regulated electric utility operations; Regulated gas utility operations; Nonregulated energy operations; Transmission investments, and All other. The Regulated electric utility operations segment is engaged in generating, purchasing and distributing electricity through Madison Gas and Electric Company (MGE).
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