SG Americas Securities LLC Raises Holdings in MGE Energy, Inc. (NASDAQ:MGEE)

SG Americas Securities LLC increased its holdings in MGE Energy, Inc. (NASDAQ:MGEE - Free Report) by 143.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 9,910 shares of the utilities provider's stock after acquiring an additional 5,846 shares during the period. SG Americas Securities LLC's holdings in MGE Energy were worth $906,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MGEE. Bank of Montreal Can lifted its holdings in shares of MGE Energy by 1.6% in the 2nd quarter. Bank of Montreal Can now owns 9,149 shares of the utilities provider's stock worth $705,000 after acquiring an additional 140 shares during the last quarter. Inspire Investing LLC lifted its stake in MGE Energy by 3.2% during the 2nd quarter. Inspire Investing LLC now owns 4,702 shares of the utilities provider's stock worth $351,000 after acquiring an additional 144 shares in the last quarter. Arizona State Retirement System boosted its holdings in MGE Energy by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 10,126 shares of the utilities provider's stock valued at $757,000 after acquiring an additional 187 shares during the period. Nisa Investment Advisors LLC boosted its holdings in MGE Energy by 9.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,566 shares of the utilities provider's stock valued at $192,000 after acquiring an additional 212 shares during the period. Finally, Covestor Ltd grew its position in MGE Energy by 43.3% in the 1st quarter. Covestor Ltd now owns 794 shares of the utilities provider's stock valued at $63,000 after acquiring an additional 240 shares in the last quarter. 52.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Morgan Stanley increased their price target on shares of 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 Stock Up 1.0 %

Shares of MGE Energy stock traded up $0.86 during trading hours on Friday, reaching $90.52. 49,659 shares of the company were exchanged, compared to its average volume of 228,071. The firm has a market cap of $3.27 billion, a PE ratio of 27.27 and a beta of 0.70. 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 1 year low of $61.94 and a 1 year high of $93.15. The stock's fifty day moving average is $88.18 and its 200 day moving average is $82.21.

MGE Energy (NASDAQ:MGEE - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.29). The company had revenue of $145.71 million for the quarter, compared to analysts' expectations of $151.29 million. MGE Energy had a return on equity of 10.04% and a net margin of 17.45%. As a group, 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 paid a $0.45 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.80 dividend on an annualized basis and a yield of 1.99%. This is an increase from MGE Energy's previous quarterly dividend of $0.43. MGE Energy's payout ratio is currently 54.22%.

MGE Energy Company 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.