Jupiter Topco LLC Takes Position in MGE Energy Inc. $MGEE

Jupiter Topco LLC bought a new position in shares of MGE Energy Inc. (NASDAQ:MGEE) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 16,376 shares of the utilities provider’s stock, valued at approximately $1,335,000.

Other hedge funds also recently modified their holdings of the company. AQR Capital Management LLC grew its position in MGE Energy by 18.8% in the first quarter. AQR Capital Management LLC now owns 8,275 shares of the utilities provider’s stock worth $769,000 after buying an additional 1,312 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of MGE Energy by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,707 shares of the utilities provider’s stock valued at $2,018,000 after purchasing an additional 954 shares during the period. United Services Automobile Association purchased a new position in shares of MGE Energy during the 1st quarter valued at $220,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in MGE Energy by 18.8% in the first 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 increased its position in MGE Energy by 718.5% in 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 last quarter. 52.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on MGEE. Weiss Ratings restated a “hold (c)” rating on shares of MGE Energy in a research note on Wednesday, August 5th. LADENBURG THALM/SH SH raised shares of MGE Energy from a “neutral” rating to a “buy” rating and set a $81.00 price objective for the company in a report on Monday, June 8th. Finally, Morgan Stanley cut their target price on shares of MGE Energy from $76.00 to $74.00 and set an “underweight” rating for the company in a research report on Friday, August 21st. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, MGE Energy currently has a consensus rating of “Hold” and an average target price of $77.50.

MGE Energy Trading Down 0.3%

Shares of MGEE opened at $77.37 on Friday. The stock’s 50-day moving average price is $80.70 and its 200 day moving average price is $78.69. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $2.92 billion, a price-to-earnings ratio of 19.01 and a beta of 0.70. MGE Energy Inc. has a 12-month low of $72.16 and a 12-month high of $87.94.

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

MGE Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a $0.5083 dividend. This is a positive change from MGE Energy’s previous quarterly dividend of $0.47. This represents a $2.03 annualized dividend and a yield of 2.6%. The ex-dividend date is Tuesday, September 1st. MGE Energy’s dividend payout ratio (DPR) is 49.88%.

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.