Public Employees Retirement System of Ohio Invests $1.78 Million in MGE Energy Inc. $MGEE

Public Employees Retirement System of Ohio purchased a new position in MGE Energy Inc. (NASDAQ:MGEE) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 21,816 shares of the utilities provider’s stock, valued at approximately $1,779,000.

Several other large investors also recently added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in MGE Energy during the second quarter worth approximately $496,897,000. Geode Capital Management LLC boosted its holdings in shares of MGE Energy by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 921,952 shares of the utilities provider’s stock worth $72,315,000 after buying an additional 3,692 shares during the period. Bank of New York Mellon Corp acquired a new position in MGE Energy in the 2nd quarter valued at $27,087,000. Deprince Race & Zollo Inc. bought a new position in MGE Energy in the 1st quarter worth $21,418,000. Finally, Invesco Ltd. boosted its holdings in MGE Energy by 14.3% during the second quarter. Invesco Ltd. now owns 238,747 shares of the utilities provider’s stock valued at $21,115,000 after acquiring an additional 29,811 shares during the period. 52.58% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

MGE Energy Stock Performance

NASDAQ:MGEE opened at $77.37 on Monday. The firm has a market capitalization of $2.92 billion, a PE ratio of 19.01 and a beta of 0.70. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.61. MGE Energy Inc. has a 12-month low of $72.16 and a 12-month high of $87.94. The firm has a 50-day moving average price of $80.70 and a 200 day moving average price of $78.66.

MGE Energy (NASDAQ:MGEE) last released its quarterly earnings data on Wednesday, August 5th. The utilities provider reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.12. MGE Energy had a return on equity of 11.10% and a net margin of 19.45%.The company had revenue of $161.19 million for the quarter, compared to analyst estimates of $166.37 million. 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 disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.5083 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This is a boost 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%. MGE Energy’s dividend payout ratio (DPR) is 49.88%.

MGE Energy Company 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.