California State Teachers Retirement System trimmed its position in shares of MGE Energy Inc. (NASDAQ:MGEE) by 10.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 61,967 shares of the utilities provider’s stock after selling 6,893 shares during the period. California State Teachers Retirement System owned approximately 0.18% of MGE Energy worth $3,988,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. BNP Paribas Arbitrage SA boosted its holdings in MGE Energy by 620.9% during the second quarter. BNP Paribas Arbitrage SA now owns 6,128 shares of the utilities provider’s stock valued at $394,000 after purchasing an additional 5,278 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of MGE Energy by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 3,299,739 shares of the utilities provider’s stock worth $212,339,000 after acquiring an additional 23,911 shares in the last quarter. Citadel Advisors LLC acquired a new position in shares of MGE Energy in the 2nd quarter worth approximately $798,000. Marshall Wace North America L.P. bought a new position in MGE Energy in the 2nd quarter worth approximately $1,157,000. Finally, Ramsey Quantitative Systems bought a new position in MGE Energy in the 2nd quarter worth approximately $303,000. Hedge funds and other institutional investors own 38.04% of the company’s stock.
Several research analysts recently weighed in on the stock. BidaskClub cut shares of MGE Energy from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 17th. Gabelli reiterated a “hold” rating on shares of MGE Energy in a research report on Monday. Finally, Zacks Investment Research upgraded shares of MGE Energy from a “sell” rating to a “hold” rating in a research report on Thursday, September 7th.
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Shares of MGE Energy Inc. (NASDAQ MGEE) opened at $64.20 on Tuesday. The company has a market cap of $2,222.24, a price-to-earnings ratio of 29.14 and a beta of 0.34. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.02 and a quick ratio of 2.47. MGE Energy Inc. has a 1 year low of $58.08 and a 1 year high of $68.70.
MGE Energy (NASDAQ:MGEE) last announced its earnings results on Friday, November 3rd. The utilities provider reported $0.77 earnings per share for the quarter. The firm had revenue of $139.54 million during the quarter. MGE Energy had a net margin of 13.52% and a return on equity of 10.31%.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be paid a dividend of $0.3225 per share. The ex-dividend date is Thursday, November 30th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 2.01%. MGE Energy’s dividend payout ratio is 58.64%.
In other MGE Energy news, insider Jeffrey M. Keebler acquired 547 shares of MGE Energy stock in a transaction dated Tuesday, September 5th. The stock was bought at an average cost of $64.02 per share, for a total transaction of $35,018.94. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.20% of the company’s stock.
About MGE Energy
MGE Energy, Inc (MGE) is a public utility holding company. The Company operates through five segments: Regulated electric utility operations; Regulated gas utility operations; Nonregulated energy operations; Transmission investments, and All other. The Regulated electric utility operations segment is engaged in generating, purchasing and distributing electricity through Madison Gas and Electric Company (MGE).
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