Renaissance Technologies LLC Sells 7,600 Shares of MGE Energy, Inc. (NASDAQ:MGEE)

Renaissance Technologies LLC trimmed its holdings in shares of MGE Energy, Inc. (NASDAQ:MGEE - Free Report) by 71.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,100 shares of the utilities provider's stock after selling 7,600 shares during the quarter. Renaissance Technologies LLC's holdings in MGE Energy were worth $232,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its position in MGE Energy by 2.7% in the second quarter. Dimensional Fund Advisors LP now owns 783,396 shares of the utilities provider's stock worth $58,536,000 after purchasing an additional 20,533 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in MGE Energy in the 2nd quarter valued at $58,000. BOKF NA boosted its holdings in shares of MGE Energy by 126.9% in the 2nd quarter. BOKF NA now owns 4,367 shares of the utilities provider's stock worth $326,000 after purchasing an additional 2,442 shares during the period. American Century Companies Inc. raised its stake in shares of MGE Energy by 8.8% during the second quarter. American Century Companies Inc. now owns 45,747 shares of the utilities provider's stock valued at $3,418,000 after acquiring an additional 3,715 shares in the last quarter. Finally, Royal London Asset Management Ltd. raised its holdings in MGE Energy by 4.1% in the second quarter. Royal London Asset Management Ltd. now owns 38,213 shares of the utilities provider's stock worth $2,855,000 after purchasing an additional 1,506 shares in the last quarter. 52.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley raised 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 Stock Performance

Shares of MGEE stock traded up $0.86 on Friday, hitting $90.52. 49,659 shares of the stock were exchanged, compared to its average volume of 228,071. MGE Energy, Inc. has a one year low of $61.94 and a one year high of $93.15. The firm's 50 day moving average is $88.18 and its two-hundred day moving average is $82.24. The company has a current ratio of 1.32, a quick ratio of 0.90 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $3.27 billion, a PE ratio of 27.27 and a beta of 0.70.

MGE Energy (NASDAQ:MGEE - Get Free Report) last announced its 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 firm had revenue of $145.71 million during 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%. Sell-side analysts expect that MGE Energy, Inc. will post 3.69 earnings per share for the current fiscal year.

MGE Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 15th. Investors of record on Sunday, September 1st were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, August 30th. This is an increase from MGE Energy's previous quarterly dividend of $0.43. This represents a $1.80 annualized dividend and a yield of 1.99%. MGE Energy's dividend payout ratio is 54.22%.

About MGE Energy

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.