Landaas & Co. WI ADV Grows Position in MGE Energy Inc. (NASDAQ:MGEE)

Landaas & Co. WI ADV grew its stake in MGE Energy Inc. (NASDAQ:MGEE) by 11.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,533 shares of the utilities provider’s stock after buying an additional 367 shares during the quarter. Landaas & Co. WI ADV’s holdings in MGE Energy were worth $328,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Guggenheim Capital LLC purchased a new position in MGE Energy in the fourth quarter worth about $232,000. GAMMA Investing LLC raised its holdings in MGE Energy by 5.4% during the 1st quarter. GAMMA Investing LLC now owns 4,908 shares of the utilities provider’s stock valued at $456,000 after buying an additional 251 shares during the period. Madison Investment Advisors LLC bought a new stake in MGE Energy in the fourth quarter worth $295,000. Allspring Global Investments Holdings LLC boosted its stake in MGE Energy by 45.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 8,220 shares of the utilities provider’s stock worth $764,000 after buying an additional 2,560 shares during the period. Finally, Bank of America Corp DE increased its position in MGE Energy by 7.0% during the fourth quarter. Bank of America Corp DE now owns 77,943 shares of the utilities provider’s stock valued at $7,324,000 after acquiring an additional 5,123 shares during the last quarter. Institutional investors own 52.58% of the company’s stock.

MGE Energy Price Performance

Shares of MGEE opened at $86.58 on Tuesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.49 and a current ratio of 2.07. The company has a 50 day moving average price of $89.64 and a 200-day moving average price of $90.46. MGE Energy Inc. has a fifty-two week low of $79.38 and a fifty-two week high of $109.22. The stock has a market capitalization of $3.16 billion, a PE ratio of 24.46 and a beta of 0.76.

MGE Energy (NASDAQ:MGEE) last announced its quarterly earnings results on Wednesday, May 7th. The utilities provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.16. The business had revenue of $218.97 million for the quarter, compared to the consensus estimate of $202.42 million. MGE Energy had a return on equity of 10.58% and a net margin of 18.22%. Equities analysts predict that MGE Energy Inc. will post 3.43 earnings per share for the current fiscal year.

MGE Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date was Friday, May 30th. MGE Energy’s dividend payout ratio is currently 50.85%.

Analyst Ratings Changes

Several research firms have recently weighed in on MGEE. LADENBURG THALM/SH SH upgraded MGE Energy to a “strong sell” rating in a research report on Friday, May 9th. Morgan Stanley reduced their price target 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.

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.