Teachers Retirement System of The State of Kentucky Raises Holdings in MGE Energy, Inc. (NASDAQ:MGEE)

Teachers Retirement System of The State of Kentucky increased its position in MGE Energy, Inc. (NASDAQ:MGEE - Free Report) by 103.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,685 shares of the utilities provider's stock after acquiring an additional 6,458 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in MGE Energy were worth $948,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MGEE. Speece Thorson Capital Group Inc. acquired a new stake in MGE Energy during the 4th quarter worth about $6,145,000. Comerica Bank grew its position in MGE Energy by 11,187.2% during the 1st quarter. Comerica Bank now owns 15,012 shares of the utilities provider's stock worth $1,182,000 after purchasing an additional 14,879 shares during the period. New York State Teachers Retirement System acquired a new stake in MGE Energy during the 1st quarter worth about $934,000. Quadrature Capital Ltd grew its position in shares of MGE Energy by 122.1% during the 4th quarter. Quadrature Capital Ltd now owns 21,484 shares of the utilities provider's stock valued at $1,554,000 after acquiring an additional 11,809 shares during the period. Finally, Edgestream Partners L.P. acquired a new stake in shares of MGE Energy during the 1st quarter valued at about $1,178,000. Hedge funds and other institutional investors own 52.58% of the company's stock.

Analyst Ratings Changes

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

MGE Energy Price Performance

MGEE traded down $0.11 during 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 market cap of $3.29 billion, a price-to-earnings ratio of 27.39 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 firm has a fifty day simple moving average of $87.98 and a two-hundred day simple moving average of $81.79. MGE Energy, Inc. has a 1 year low of $61.94 and a 1 year high of $93.15.

MGE Energy (NASDAQ:MGEE - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.66 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.29). The firm had revenue of $145.71 million for the quarter, compared to analysts' expectations of $151.29 million. MGE Energy had a net margin of 17.45% and a return on equity of 10.04%. As a group, analysts anticipate that MGE Energy, Inc. will post 3.69 EPS for the current year.

MGE Energy Increases Dividend

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