MGE Energy Inc. $MGEE Shares Bought by Sei Investments Co.

Sei Investments Co. lifted its holdings in shares of MGE Energy Inc. (NASDAQ:MGEE) by 193.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,857 shares of the utilities provider’s stock after buying an additional 21,663 shares during the period. Sei Investments Co. owned about 0.09% of MGE Energy worth $2,540,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of MGEE. AQR Capital Management LLC grew its holdings in MGE Energy by 18.8% during the first quarter. AQR Capital Management LLC now owns 8,275 shares of the utilities provider’s stock worth $769,000 after acquiring an additional 1,312 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings 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 valued at $2,018,000 after acquiring an additional 954 shares during the period. United Services Automobile Association purchased a new stake in shares of MGE Energy during the 1st quarter worth $220,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted 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 worth $8,051,000 after purchasing an additional 13,715 shares in the last quarter. Finally, Jane Street Group LLC grew its stake in shares of MGE Energy by 718.5% during the 1st quarter. Jane Street Group LLC now owns 75,007 shares of the utilities provider’s stock worth $6,973,000 after purchasing an additional 65,843 shares during the period. 52.58% of the stock is owned by institutional investors and hedge funds.

MGE Energy Stock Up 0.9%

MGE Energy stock opened at $81.54 on Friday. MGE Energy Inc. has a fifty-two week low of $72.16 and a fifty-two week high of $88.01. The firm has a market capitalization of $3.08 billion, a price-to-earnings ratio of 20.03 and a beta of 0.71. The stock’s fifty day moving average is $79.45 and its two-hundred day moving average is $78.73. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 1.14.

MGE Energy (NASDAQ:MGEE) last released its quarterly earnings results on Wednesday, August 5th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.12. MGE Energy had a return on equity of 11.10% and a net margin of 19.45%.The business had revenue of $161.19 million during the quarter, compared to the consensus estimate of $166.37 million. Analysts predict that MGE Energy Inc. will post 3.99 EPS for the current fiscal year.

MGE Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a $0.475 dividend. The ex-dividend date was Monday, June 1st. This represents a $1.90 annualized dividend and a dividend yield of 2.3%. MGE Energy’s dividend payout ratio is currently 46.68%.

Analysts Set New Price Targets

MGEE has been the subject of a number of research analyst reports. Morgan Stanley reiterated an “underweight” rating and issued a $76.00 price target on shares of MGE Energy in a report on Wednesday, July 22nd. Weiss Ratings restated a “hold (c)” rating on shares of MGE Energy in a research report on Wednesday. Finally, LADENBURG THALM/SH SH upgraded shares of MGE Energy from a “neutral” rating to a “buy” rating and set a $81.00 target price on the stock in a research report on Monday, June 8th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, MGE Energy currently has a consensus rating of “Hold” and a consensus price target of $78.50.

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.