Ieq Capital LLC Buys Shares of 17,404 MGE Energy Inc. $MGEE

Ieq Capital LLC purchased a new position in MGE Energy Inc. (NASDAQ:MGEE) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 17,404 shares of the utilities provider’s stock, valued at approximately $1,419,000.

A number of other hedge funds also recently modified their holdings of the business. Hantz Financial Services Inc. grew its position in shares of MGE Energy by 63.8% in the 4th quarter. Hantz Financial Services Inc. now owns 416 shares of the utilities provider’s stock valued at $33,000 after purchasing an additional 162 shares during the period. Advisory Services Network LLC bought a new position in MGE Energy in the third quarter valued at approximately $40,000. Avalon Trust Co bought a new position in MGE Energy in the second quarter valued at approximately $49,000. Parallel Advisors LLC boosted its holdings in shares of MGE Energy by 28.6% in the third quarter. Parallel Advisors LLC now owns 714 shares of the utilities provider’s stock valued at $60,000 after buying an additional 159 shares during the period. Finally, Versant Capital Management Inc increased its position in shares of MGE Energy by 60.3% during the second quarter. Versant Capital Management Inc now owns 744 shares of the utilities provider’s stock worth $61,000 after acquiring an additional 280 shares in the last quarter. Institutional investors and hedge funds own 52.58% of the company’s stock.

Wall Street Analysts Forecast Growth

MGEE has been the topic of a number of research analyst reports. LADENBURG THALM/SH SH upgraded shares of MGE Energy from a “neutral” rating to a “buy” rating and set a $81.00 price objective on the stock in a report on Monday, June 8th. Morgan Stanley dropped their price target on MGE Energy from $76.00 to $74.00 and set an “underweight” rating on the stock in a research note on Friday, August 21st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of MGE Energy in a research report on Wednesday, August 5th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $77.50.

MGE Energy Price Performance

NASDAQ MGEE opened at $79.39 on Thursday. The firm’s 50 day moving average is $80.68 and its 200-day moving average is $78.81. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $3.00 billion, a PE ratio of 19.51 and a beta of 0.71. MGE Energy Inc. has a 12-month low of $72.16 and a 12-month high of $88.01.

MGE Energy (NASDAQ:MGEE) last released its earnings results on Wednesday, August 5th. The utilities provider reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.12. MGE Energy had a net margin of 19.45% and a return on equity of 11.10%. The business had revenue of $161.19 million during the quarter, compared to the consensus estimate of $166.37 million. Equities research analysts anticipate that MGE Energy Inc. will post 3.99 earnings per share for the current fiscal year.

MGE Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a $0.5083 dividend. This is an increase from MGE Energy’s previous quarterly dividend of $0.47. This represents a $2.03 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Tuesday, September 1st. MGE Energy’s dividend payout ratio (DPR) is presently 46.68%.

MGE Energy Profile

MGE Energy, Inc is a public utility holding company headquartered in Madison, Wisconsin. Through its principal subsidiary, Madison Gas and Electric Company (MGE), the company provides regulated electric and natural gas distribution services to residential, commercial and industrial customers in south-central Wisconsin. MGE Energy’s operations encompass the generation, transmission and distribution of electricity as well as the purchase and distribution of natural gas, with an emphasis on reliable service and system resilience.

Since reorganizing as a holding company in 2001, MGE Energy has expanded its portfolio to include nonregulated subsidiaries involved in renewable energy development, energy services and infrastructure support.