Strs Ohio Has $185,000 Holdings in MGE Energy Inc. $MGEE

Strs Ohio lowered its holdings in MGE Energy Inc. (NASDAQ:MGEE) by 81.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,200 shares of the utilities provider’s stock after selling 9,700 shares during the period. Strs Ohio’s holdings in MGE Energy were worth $185,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. AQR Capital Management LLC raised its holdings in MGE Energy by 18.8% during the 1st quarter. AQR Capital Management LLC now owns 8,275 shares of the utilities provider’s stock worth $769,000 after purchasing an additional 1,312 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in MGE Energy by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,707 shares of the utilities provider’s stock worth $2,018,000 after buying an additional 954 shares during the last quarter. United Services Automobile Association bought a new position in shares of MGE Energy in the first quarter worth $220,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of MGE Energy by 18.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 86,608 shares of the utilities provider’s stock valued at $8,051,000 after purchasing an additional 13,715 shares in the last quarter. Finally, Jane Street Group LLC raised its stake in MGE Energy by 718.5% in the first quarter. Jane Street Group LLC now owns 75,007 shares of the utilities provider’s stock valued at $6,973,000 after purchasing an additional 65,843 shares in the last quarter. Institutional investors own 52.58% of the company’s stock.

MGE Energy Price Performance

NASDAQ MGEE opened at $79.04 on Tuesday. MGE Energy Inc. has a 1 year low of $76.47 and a 1 year high of $95.00. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.91 and a quick ratio of 0.59. The company has a market cap of $2.89 billion, a price-to-earnings ratio of 21.42 and a beta of 0.82. The stock’s fifty day moving average price is $79.40 and its 200 day moving average price is $82.64.

MGE Energy (NASDAQ:MGEE) last announced its quarterly earnings results on Wednesday, November 5th. The utilities provider reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.03. MGE Energy had a return on equity of 10.65% and a net margin of 18.55%.The firm had revenue of $175.68 million during the quarter. As a group, equities research analysts forecast 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 will be paid on Sunday, March 15th. Investors of record on Sunday, March 1st will be paid a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Friday, February 27th. MGE Energy’s dividend payout ratio is presently 51.49%.

Analysts Set New Price Targets

MGEE has been the topic of several recent analyst reports. Morgan Stanley cut their target price on MGE Energy from $74.00 to $73.00 and set an “underweight” rating on the stock in a research note on Monday. Weiss Ratings restated a “hold (c+)” rating on shares of MGE Energy in a research note on Monday, December 29th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $78.00.

About MGE Energy

MGE Energy, Inc is a public utility holding company headquartered in Madison, Wisconsin. Through its principal subsidiary, Madison Gas and Electric Company (MGE), the company provides regulated electric and natural gas distribution services to residential, commercial and industrial customers in south-central Wisconsin. MGE Energy’s operations encompass the generation, transmission and distribution of electricity as well as the purchase and distribution of natural gas, with an emphasis on reliable service and system resilience.

Since reorganizing as a holding company in 2001, MGE Energy has expanded its portfolio to include nonregulated subsidiaries involved in renewable energy development, energy services and infrastructure support.