Tower View Wealth Management LLC Sells 163 Shares of MGE Energy Inc. (NASDAQ:MGEE)

Tower View Wealth Management LLC reduced its holdings in shares of MGE Energy Inc. (NASDAQ:MGEE) by 3.1% during the first quarter, Holdings Channel reports. The fund owned 5,066 shares of the utilities provider’s stock after selling 163 shares during the period. Tower View Wealth Management LLC’s holdings in MGE Energy were worth $471,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Dimensional Fund Advisors LP grew its holdings in shares of MGE Energy by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 769,612 shares of the utilities provider’s stock worth $72,314,000 after purchasing an additional 2,225 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of MGE Energy by 9,697.0% in the first quarter. GAMMA Investing LLC now owns 456,248 shares of the utilities provider’s stock worth $42,413,000 after purchasing an additional 451,591 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of MGE Energy by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 432,877 shares of the utilities provider’s stock worth $40,673,000 after purchasing an additional 7,416 shares during the last quarter. Northern Trust Corp grew its holdings in shares of MGE Energy by 6.7% in the fourth quarter. Northern Trust Corp now owns 393,127 shares of the utilities provider’s stock worth $36,938,000 after purchasing an additional 24,605 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of MGE Energy by 4.1% in the fourth quarter. Principal Financial Group Inc. now owns 191,447 shares of the utilities provider’s stock worth $17,988,000 after purchasing an additional 7,554 shares during the last quarter. 52.58% of the stock is currently owned by institutional investors.

MGE Energy Stock Performance

Shares of MGE Energy stock opened at $88.37 on Friday. The company has a current ratio of 2.07, a quick ratio of 1.49 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $3.23 billion, a P/E ratio of 24.96 and a beta of 0.78. The business has a fifty day simple moving average of $90.17 and a two-hundred day simple moving average of $91.43. MGE Energy Inc. has a 12 month low of $72.27 and a 12 month high of $109.22.

MGE Energy (NASDAQ:MGEE) last announced its quarterly earnings data on Wednesday, May 7th. The utilities provider reported $1.14 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%. On average, equities analysts forecast that MGE Energy Inc. will post 3.43 earnings per share for the current fiscal year.

MGE Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.04%. The ex-dividend date was Friday, May 30th. MGE Energy’s dividend payout ratio is presently 50.85%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on MGEE shares. Morgan Stanley cut their target price on shares of MGE Energy from $75.00 to $74.00 and set an “underweight” rating on the stock in a report on Thursday, May 22nd. LADENBURG THALM/SH SH upgraded shares of MGE Energy to a “strong sell” rating in a report on Friday, May 9th.

MGE Energy 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.