Osaic Holdings Inc. Acquires 14,415 Shares of MGE Energy Inc. $MGEE

Osaic Holdings Inc. grew its stake in shares of MGE Energy Inc. (NASDAQ:MGEE) by 84.4% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 31,499 shares of the utilities provider’s stock after purchasing an additional 14,415 shares during the period. Osaic Holdings Inc.’s holdings in MGE Energy were worth $2,786,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of MGE Energy by 47.3% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 526 shares of the utilities provider’s stock valued at $47,000 after buying an additional 169 shares during the last quarter. Maryland State Retirement & Pension System lifted its stake in MGE Energy by 1.6% during the 2nd quarter. Maryland State Retirement & Pension System now owns 10,738 shares of the utilities provider’s stock valued at $950,000 after acquiring an additional 172 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in MGE Energy by 19.1% during the 2nd quarter. Smartleaf Asset Management LLC now owns 1,326 shares of the utilities provider’s stock worth $117,000 after acquiring an additional 213 shares during the last quarter. State of New Jersey Common Pension Fund D grew its stake in shares of MGE Energy by 1.1% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 21,037 shares of the utilities provider’s stock worth $1,861,000 after acquiring an additional 236 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC grew its stake in shares of MGE Energy by 107.3% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 485 shares of the utilities provider’s stock worth $43,000 after acquiring an additional 251 shares in the last quarter. Institutional investors own 52.58% of the company’s stock.

MGE Energy Price Performance

MGEE opened at $78.35 on Friday. MGE Energy Inc. has a fifty-two week low of $77.46 and a fifty-two week high of $96.25. The firm has a 50-day moving average of $81.94 and a 200 day moving average of $84.42. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.59 and a current ratio of 0.91. The firm has a market cap of $2.86 billion, a P/E ratio of 21.23 and a beta of 0.83.

MGE Energy (NASDAQ:MGEE) last announced its quarterly earnings data on Wednesday, November 5th. The utilities provider reported $1.22 EPS for the quarter, topping the consensus estimate of $1.19 by $0.03. MGE Energy had a net margin of 18.55% and a return on equity of 10.65%. The business had revenue of $175.68 million for the quarter. On average, research analysts expect that MGE Energy Inc. will post 3.43 EPS for the current year.

MGE Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were issued a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Monday, December 1st. MGE Energy’s dividend payout ratio is 51.49%.

Analyst Ratings Changes

MGEE has been the topic of a number of recent analyst reports. Morgan Stanley reissued an “underweight” rating on shares of MGE Energy in a research report on Wednesday, October 22nd. LADENBURG THALM/SH SH upgraded shares of MGE Energy from a “sell” rating to a “neutral” rating and increased their price objective for the company from $69.00 to $83.00 in a research note on Thursday, September 11th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of MGE Energy in a research report on Monday. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $79.00.

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.