MGE Energy Inc. $MGEE Stock Position Decreased by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its stake in shares of MGE Energy Inc. (NASDAQ:MGEE) by 9.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 176,606 shares of the utilities provider’s stock after selling 18,544 shares during the quarter. Principal Financial Group Inc. owned about 0.48% of MGE Energy worth $14,867,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of MGEE. Keybank National Association OH raised its holdings in MGE Energy by 7.1% during the third quarter. Keybank National Association OH now owns 3,754 shares of the utilities provider’s stock worth $316,000 after purchasing an additional 249 shares in the last quarter. Arizona State Retirement System boosted its holdings in shares of MGE Energy by 1.3% in the third quarter. Arizona State Retirement System now owns 10,769 shares of the utilities provider’s stock worth $907,000 after buying an additional 133 shares during the period. Vanguard Personalized Indexing Management LLC boosted its stake in MGE Energy by 6.4% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 5,161 shares of the utilities provider’s stock worth $434,000 after purchasing an additional 311 shares during the period. RMG Wealth Management LLC boosted its position in shares of MGE Energy by 6.6% in the third quarter. RMG Wealth Management LLC now owns 4,812 shares of the utilities provider’s stock worth $416,000 after buying an additional 298 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH boosted its position in MGE Energy by 20.6% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 6,113 shares of the utilities provider’s stock worth $515,000 after acquiring an additional 1,045 shares during the period. Institutional investors own 52.58% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on MGEE shares. Morgan Stanley reduced their price target on MGE Energy from $74.00 to $73.00 and set an “underweight” rating for the company in a report on Monday, February 2nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of MGE Energy in a report on Monday, December 29th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $78.00.

MGE Energy Price Performance

MGEE opened at $78.73 on Tuesday. The company has a fifty day simple moving average of $79.16 and a 200 day simple moving average of $82.38. MGE Energy Inc. has a 12 month low of $76.47 and a 12 month high of $95.00. The company has a quick ratio of 0.59, a current ratio of 0.91 and a debt-to-equity ratio of 0.57. The stock has a market cap of $2.88 billion, a P/E ratio of 21.34 and a beta of 0.82.

MGE Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, March 15th. Stockholders of record on Sunday, March 1st will be issued 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 payout ratio is 51.49%.

MGE Energy Profile

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.