MGE Energy, Inc. (NASDAQ:MGEE) Position Reduced by Goldstein Advisors LLC

Goldstein Advisors LLC reduced its position in MGE Energy, Inc. (NASDAQ:MGEE) by 4.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,951 shares of the utilities provider’s stock after selling 569 shares during the period. Goldstein Advisors LLC’s holdings in MGE Energy were worth $1,217,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC purchased a new position in MGE Energy during the 3rd quarter worth approximately $11,765,000. Barclays PLC grew its holdings in shares of MGE Energy by 345.8% during the third quarter. Barclays PLC now owns 62,308 shares of the utilities provider’s stock valued at $5,697,000 after buying an additional 48,330 shares in the last quarter. Millennium Management LLC grew its holdings in shares of MGE Energy by 136.0% during the second quarter. Millennium Management LLC now owns 79,200 shares of the utilities provider’s stock valued at $5,918,000 after buying an additional 45,647 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in MGE Energy in the 2nd quarter worth about $1,671,000. Finally, International Assets Investment Management LLC boosted its position in MGE Energy by 9,042.4% during the 3rd quarter. International Assets Investment Management LLC now owns 21,759 shares of the utilities provider’s stock worth $1,990,000 after acquiring an additional 21,521 shares during the period. Institutional investors and hedge funds own 52.58% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on MGEE. Morgan Stanley increased their target price on shares of MGE Energy from $71.00 to $74.00 and gave the stock an “underweight” rating in a research report on Wednesday, September 25th. LADENBURG THALM/SH SH raised MGE Energy to a “strong sell” rating in a research report on Thursday, December 12th.

MGE Energy Trading Down 6.9 %

Shares of MGEE opened at $87.70 on Thursday. The stock’s 50-day moving average price is $97.37 and its 200 day moving average price is $91.69. The company has a quick ratio of 0.94, a current ratio of 1.41 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $3.18 billion, a price-to-earnings ratio of 26.82 and a beta of 0.76. MGE Energy, Inc. has a 12-month low of $61.94 and a 12-month high of $109.22.

MGE Energy (NASDAQ:MGEE) last posted its earnings results on Wednesday, November 6th. The utilities provider reported $1.13 EPS for the quarter, missing the consensus estimate of $1.17 by ($0.04). The company had revenue of $168.48 million for the quarter, compared to the consensus estimate of $163.82 million. MGE Energy had a return on equity of 10.18% and a net margin of 17.70%. As a group, research analysts predict 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 Saturday, March 15th. Stockholders of record on Saturday, March 1st will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Friday, February 28th. MGE Energy’s dividend payout ratio (DPR) is currently 55.05%.

About MGE Energy

MGE Energy, Inc, through its subsidiaries, operates as a public utility holding company primarily in the United States. It operates through Regulated Electric Utility Operations; Regulated Gas Utility Operations; Nonregulated Energy Operations; Transmission Investments; and All Other segments. The company generates, purchases, and distributes electricity and natural gas in Wisconsin and Iowa; owns and leases electric generating capacity; and plans, constructs, operates, maintains, and expands transmission facilities to provide transmission power services.