Exchange Traded Concepts LLC Boosts Stake in MGE Energy, Inc. (NASDAQ:MGEE)

Exchange Traded Concepts LLC grew its holdings in MGE Energy, Inc. (NASDAQ:MGEE) by 4.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,471 shares of the utilities provider’s stock after purchasing an additional 835 shares during the period. Exchange Traded Concepts LLC’s holdings in MGE Energy were worth $1,923,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. State Street Corp lifted its position in 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 buying an additional 7,294 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of MGE Energy by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 863,707 shares of the utilities provider’s stock worth $79,001,000 after acquiring an additional 5,796 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of MGE Energy by 2.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 783,396 shares of the utilities provider’s stock worth $58,536,000 after purchasing an additional 20,533 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in MGE Energy by 2.1% in the 3rd 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 last quarter. Finally, Hotchkis & Wiley Capital Management LLC purchased a new stake in MGE Energy in the third quarter valued at approximately $11,765,000. 52.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, LADENBURG THALM/SH SH upgraded MGE Energy to a “strong sell” rating in a research report on Thursday, December 12th.

MGE Energy Stock Down 1.7 %

Shares of NASDAQ:MGEE opened at $85.70 on Monday. The firm has a market capitalization of $3.10 billion, a PE ratio of 26.21 and a beta of 0.76. MGE Energy, Inc. has a 1 year low of $61.94 and a 1 year high of $109.22. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.41 and a quick ratio of 0.94. The firm’s 50-day moving average is $96.62 and its two-hundred day moving average is $91.94.

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

MGE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date is Friday, February 28th. MGE Energy’s dividend payout ratio is currently 55.05%.

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.