Maryland State Retirement & Pension System Has $982,000 Holdings in MGE Energy Inc. (NASDAQ:MGEE)

Maryland State Retirement & Pension System decreased its position in shares of MGE Energy Inc. (NASDAQ:MGEE) by 12.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,566 shares of the utilities provider’s stock after selling 1,558 shares during the quarter. Maryland State Retirement & Pension System’s holdings in MGE Energy were worth $982,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Sterling Capital Management LLC increased its holdings in MGE Energy by 656.2% in the 4th quarter. Sterling Capital Management LLC now owns 673 shares of the utilities provider’s stock worth $63,000 after purchasing an additional 584 shares in the last quarter. Focus Partners Wealth bought a new stake in shares of MGE Energy during the fourth quarter worth about $116,000. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of MGE Energy during the first quarter worth about $139,000. Benjamin Edwards Inc. acquired a new position in shares of MGE Energy in the fourth quarter valued at approximately $200,000. Finally, Twinbeech Capital LP bought a new position in MGE Energy in the 4th quarter valued at approximately $209,000. Institutional investors and hedge funds own 52.58% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on MGEE shares. LADENBURG THALM/SH SH raised shares of MGE Energy to a “strong sell” rating in a report on Friday, May 9th. Morgan Stanley reduced their price objective on shares of MGE Energy from $75.00 to $74.00 and set an “underweight” rating on the stock in a research note on Thursday, May 22nd. Finally, Wall Street Zen downgraded MGE Energy from a “buy” rating to a “hold” rating in a report on Saturday, July 26th.

MGE Energy Price Performance

Shares of MGEE opened at $83.00 on Tuesday. The business has a 50-day moving average of $87.31 and a 200-day moving average of $89.52. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.80 and a quick ratio of 1.20. The company has a market capitalization of $3.03 billion, a price-to-earnings ratio of 23.06 and a beta of 0.76. MGE Energy Inc. has a 1 year low of $82.21 and a 1 year high of $109.22.

MGE Energy (NASDAQ:MGEE) last released its earnings results on Wednesday, August 6th. The utilities provider reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). MGE Energy had a net margin of 18.24% and a return on equity of 10.58%. The firm had revenue of $159.45 million for the quarter. As a group, equities research analysts anticipate that MGE Energy Inc. will post 3.43 earnings per share for the current year.

MGE Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, June 15th. Investors of record on Sunday, June 1st were issued a $0.45 dividend. The ex-dividend date was Friday, May 30th. This represents a $1.80 annualized dividend and a yield of 2.2%. MGE Energy’s payout ratio is presently 50.00%.

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.