MBE Wealth Management LLC Lowers Stock Position in MGE Energy, Inc. (NASDAQ:MGEE)

MBE Wealth Management LLC lessened its stake in shares of MGE Energy, Inc. (NASDAQ:MGEE) by 6.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,290 shares of the utilities provider’s stock after selling 586 shares during the quarter. MBE Wealth Management LLC’s holdings in MGE Energy were worth $779,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. State Street Corp boosted its stake in shares of MGE Energy by 0.5% in the third quarter. State Street Corp now owns 1,460,360 shares of the utilities provider’s stock valued at $133,550,000 after purchasing an additional 7,294 shares during the period. Geode Capital Management LLC boosted its stake in shares of MGE Energy by 0.7% in the third quarter. Geode Capital Management LLC now owns 863,707 shares of the utilities provider’s stock valued at $79,001,000 after purchasing an additional 5,796 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of MGE Energy by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 425,461 shares of the utilities provider’s stock valued at $38,908,000 after purchasing an additional 8,629 shares during the period. Hotchkis & Wiley Capital Management LLC purchased a new position in shares of MGE Energy in the third quarter valued at approximately $11,765,000. Finally, Millennium Management LLC boosted its stake in shares of MGE Energy by 136.0% in the second quarter. Millennium Management LLC now owns 79,200 shares of the utilities provider’s stock valued at $5,918,000 after purchasing an additional 45,647 shares during the period. Hedge funds and other institutional investors own 52.58% of the company’s stock.

MGE Energy Stock Up 3.4 %

Shares of MGE Energy stock opened at $88.59 on Tuesday. MGE Energy, Inc. has a 52-week low of $61.94 and a 52-week high of $109.22. The company has a 50 day moving average of $96.29 and a 200 day moving average of $92.02. The company has a quick ratio of 0.94, a current ratio of 1.41 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $3.21 billion, a P/E ratio of 27.09 and a beta of 0.76.

MGE Energy (NASDAQ:MGEE) last issued its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.04). MGE Energy had a return on equity of 10.18% and a net margin of 17.70%. The firm had revenue of $168.48 million during the quarter, compared to analysts’ expectations of $163.82 million. As a group, research analysts forecast that MGE Energy, Inc. will post 3.43 EPS for the current fiscal year.

MGE Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st will be issued a dividend of $0.45 per share. The ex-dividend date is Friday, February 28th. This represents a $1.80 dividend on an annualized basis and a yield of 2.03%. MGE Energy’s payout ratio is currently 55.05%.

Wall Street Analyst Weigh In

Separately, LADENBURG THALM/SH SH raised shares of MGE Energy to a “strong sell” rating in a research note on Thursday, December 12th.

MGE Energy Company Profile

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.