Public Sector Pension Investment Board Buys 17,969 Shares of MGE Energy Inc. $MGEE

Public Sector Pension Investment Board raised its holdings in shares of MGE Energy Inc. (NASDAQ:MGEE) by 14.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 142,520 shares of the utilities provider’s stock after buying an additional 17,969 shares during the quarter. Public Sector Pension Investment Board owned about 0.39% of MGE Energy worth $11,997,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in MGEE. ICW Investment Advisors LLC boosted its position in shares of MGE Energy by 4.5% during the 3rd quarter. ICW Investment Advisors LLC now owns 9,269 shares of the utilities provider’s stock valued at $780,000 after acquiring an additional 400 shares during the last quarter. Advisors Asset Management Inc. lifted its position in MGE Energy by 5.7% during the third quarter. Advisors Asset Management Inc. now owns 13,420 shares of the utilities provider’s stock valued at $1,130,000 after purchasing an additional 728 shares during the last quarter. ProShare Advisors LLC grew its stake in MGE Energy by 5.3% in the 3rd quarter. ProShare Advisors LLC now owns 80,315 shares of the utilities provider’s stock worth $6,761,000 after buying an additional 4,050 shares in the last quarter. Alps Advisors Inc. grew its stake in MGE Energy by 17.2% in the 3rd quarter. Alps Advisors Inc. now owns 14,753 shares of the utilities provider’s stock worth $1,242,000 after buying an additional 2,169 shares in the last quarter. Finally, Savant Capital LLC increased its holdings in shares of MGE Energy by 28.1% in the 3rd quarter. Savant Capital LLC now owns 12,287 shares of the utilities provider’s stock worth $1,034,000 after buying an additional 2,693 shares during the last quarter. 52.58% of the stock is currently owned by institutional investors.

MGE Energy Stock Performance

NASDAQ:MGEE opened at $82.88 on Monday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.59 and a current ratio of 0.91. MGE Energy Inc. has a fifty-two week low of $76.47 and a fifty-two week high of $95.00. The firm has a market cap of $3.03 billion, a PE ratio of 22.46 and a beta of 0.82. The business has a 50 day moving average price of $79.30 and a 200-day moving average price of $82.28.

MGE Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, March 15th. Investors of record on Sunday, March 1st will be paid a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Friday, February 27th. MGE Energy’s dividend payout ratio (DPR) is presently 51.49%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of MGE Energy in a report on Monday, December 29th. Morgan Stanley cut their target price on MGE Energy from $74.00 to $73.00 and set an “underweight” rating for the company in a research note on Monday, February 2nd. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $78.00.

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.