Geode Capital Management LLC Buys 15,762 Shares of MGE Energy Inc. $MGEE

Geode Capital Management LLC increased its stake in MGE Energy Inc. (NASDAQ:MGEE) by 1.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 912,735 shares of the utilities provider’s stock after buying an additional 15,762 shares during the quarter. Geode Capital Management LLC owned approximately 2.50% of MGE Energy worth $80,737,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in MGEE. Hilltop National Bank bought a new stake in MGE Energy during the second quarter worth $41,000. Private Trust Co. NA acquired a new position in shares of MGE Energy during the 2nd quarter worth about $45,000. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of MGE Energy by 47.3% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 526 shares of the utilities provider’s stock valued at $47,000 after purchasing an additional 169 shares during the period. eCIO Inc. acquired a new stake in MGE Energy in the 1st quarter valued at about $53,000. Finally, Allworth Financial LP grew its holdings in MGE Energy by 2,430.0% during the second quarter. Allworth Financial LP now owns 1,518 shares of the utilities provider’s stock worth $134,000 after purchasing an additional 1,458 shares during the period. 52.58% of the stock is owned by institutional investors.

MGE Energy Price Performance

Shares of NASDAQ MGEE opened at $82.48 on Friday. The firm has a market cap of $3.01 billion, a P/E ratio of 22.91 and a beta of 0.81. The business’s 50 day moving average is $83.86 and its 200-day moving average is $86.19. The company has a current ratio of 1.80, a quick ratio of 1.20 and a debt-to-equity ratio of 0.60. MGE Energy Inc. has a 1-year low of $80.67 and a 1-year high of $106.76.

MGE Energy (NASDAQ:MGEE) last released its quarterly earnings results on Wednesday, November 5th. The utilities provider reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.03. The business had revenue of $175.68 million during the quarter. MGE Energy had a return on equity of 10.58% and a net margin of 18.24%. Equities research analysts predict that MGE Energy Inc. will post 3.43 earnings per share for the current year.

MGE Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Monday, December 1st. MGE Energy’s dividend payout ratio (DPR) is currently 51.49%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on MGEE shares. LADENBURG THALM/SH SH upgraded MGE Energy from a “sell” rating to a “neutral” rating and upped their price objective for the company from $69.00 to $83.00 in a research note on Thursday, September 11th. Wall Street Zen lowered MGE Energy from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Weiss Ratings downgraded MGE Energy from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday. Finally, Morgan Stanley reaffirmed an “underweight” rating on shares of MGE Energy in a research report on Wednesday, October 22nd. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, MGE Energy has an average rating of “Reduce” and a consensus target price of $79.00.

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.