Squarepoint Ops LLC Buys Shares of 22,366 MGE Energy, Inc. (NASDAQ:MGEE)

Squarepoint Ops LLC acquired a new stake in MGE Energy, Inc. (NASDAQ:MGEE - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 22,366 shares of the utilities provider's stock, valued at approximately $1,671,000. Squarepoint Ops LLC owned 0.06% of MGE Energy as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of MGE Energy by 12.4% during the first quarter. Vanguard Group Inc. now owns 4,699,072 shares of the utilities provider's stock worth $369,911,000 after purchasing an additional 518,466 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of MGE Energy by 4,545.3% in the first quarter. Principal Financial Group Inc. now owns 204,066 shares of the utilities provider's stock valued at $16,064,000 after acquiring an additional 199,673 shares in the last quarter. Speece Thorson Capital Group Inc. acquired a new position in shares of MGE Energy during the fourth quarter worth about $6,145,000. Susquehanna Fundamental Investments LLC purchased a new position in MGE Energy during the first quarter worth about $2,572,000. Finally, Texas Permanent School Fund Corp acquired a new stake in MGE Energy in the first quarter valued at about $2,491,000. 52.58% of the stock is owned by hedge funds and other institutional investors.

MGE Energy Price Performance

MGE Energy stock traded down $0.11 during midday trading on Friday, reaching $90.95. The company's stock had a trading volume of 66,985 shares, compared to its average volume of 231,601. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.90 and a current ratio of 1.32. MGE Energy, Inc. has a fifty-two week low of $61.94 and a fifty-two week high of $93.15. The firm has a market capitalization of $3.29 billion, a PE ratio of 27.39 and a beta of 0.70. The stock's 50 day simple moving average is $87.98 and its 200 day simple moving average is $81.70.

MGE Energy (NASDAQ:MGEE - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.66 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.29). MGE Energy had a net margin of 17.45% and a return on equity of 10.04%. The company had revenue of $145.71 million during the quarter, compared to analyst estimates of $151.29 million. On average, equities research analysts forecast that MGE Energy, Inc. will post 3.69 earnings per share for the current year.

MGE Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 15th. Investors of record on Sunday, September 1st were issued a $0.45 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.98%. This is a boost from MGE Energy's previous quarterly dividend of $0.43. MGE Energy's dividend payout ratio is currently 54.22%.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley boosted their target price on MGE Energy from $71.00 to $74.00 and gave the stock an "underweight" rating in a research report on Wednesday, September 25th.

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.