MGE Energy Inc. (NASDAQ:MGEE) Holdings Trimmed by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC decreased its holdings in MGE Energy Inc. (NASDAQ:MGEE) by 6.0% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 10,088 shares of the utilities provider’s stock after selling 646 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in MGE Energy were worth $938,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Guggenheim Capital LLC acquired a new position in MGE Energy during the fourth quarter valued at $232,000. Madison Investment Advisors LLC bought a new position in shares of MGE Energy during the 4th quarter valued at $295,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of MGE Energy in the fourth quarter worth about $208,000. Bank of America Corp DE boosted its position in MGE Energy by 7.0% during the fourth quarter. Bank of America Corp DE now owns 77,943 shares of the utilities provider’s stock worth $7,324,000 after purchasing an additional 5,123 shares during the period. Finally, SG Americas Securities LLC acquired a new position in MGE Energy in the 1st quarter valued at $332,000. 52.58% of the stock is currently owned by institutional investors and hedge funds.

MGE Energy Price Performance

MGEE opened at $89.23 on Thursday. MGE Energy Inc. has a 52 week low of $72.27 and a 52 week high of $109.22. The company has a fifty day moving average price of $89.94 and a two-hundred day moving average price of $90.83. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.49 and a current ratio of 2.07. The firm has a market capitalization of $3.26 billion, a PE ratio of 25.21 and a beta of 0.76.

MGE Energy (NASDAQ:MGEE) last issued its quarterly earnings data on Wednesday, May 7th. The utilities provider reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.16. The business had revenue of $218.97 million during the quarter, compared to analyst estimates of $202.42 million. MGE Energy had a return on equity of 10.58% and a net margin of 18.22%. As a group, analysts anticipate that MGE Energy Inc. will post 3.43 earnings per share for the current year.

MGE Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend was Friday, May 30th. MGE Energy’s dividend payout ratio is currently 50.85%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on MGEE shares. LADENBURG THALM/SH SH upgraded shares of MGE Energy to a “strong sell” rating in a research note on Friday, May 9th. Morgan Stanley dropped their price objective on MGE Energy from $75.00 to $74.00 and set an “underweight” rating for the company in a research note on Thursday, May 22nd.

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.