Blue Trust Inc. Sells 378 Shares of MGE Energy, Inc. (NASDAQ:MGEE)

Blue Trust Inc. lessened its stake in shares of MGE Energy, Inc. (NASDAQ:MGEE) by 12.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,581 shares of the utilities provider’s stock after selling 378 shares during the period. Blue Trust Inc.’s holdings in MGE Energy were worth $236,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in MGE Energy by 12.4% during the 1st quarter. Vanguard Group Inc. now owns 4,699,072 shares of the utilities provider’s stock valued at $369,911,000 after purchasing an additional 518,466 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of MGE Energy by 4,545.3% during the first quarter. Principal Financial Group Inc. now owns 204,066 shares of the utilities provider’s stock valued at $16,064,000 after acquiring an additional 199,673 shares in the last quarter. Millennium Management LLC lifted its position in MGE Energy by 136.0% in the 2nd quarter. Millennium Management LLC now owns 79,200 shares of the utilities provider’s stock valued at $5,918,000 after acquiring an additional 45,647 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of MGE Energy in the 1st quarter worth $2,572,000. Finally, Texas Permanent School Fund Corp purchased a new position in shares of MGE Energy in the first quarter worth $2,491,000. Hedge funds and other institutional investors own 52.58% of the company’s stock.

Analysts Set New Price Targets

Separately, Morgan Stanley lifted their price objective on MGE Energy from $71.00 to $74.00 and gave the stock an “underweight” rating in a report on Wednesday, September 25th.

MGE Energy Trading Down 1.2 %

Shares of MGEE stock opened at $90.68 on Friday. The firm’s 50 day moving average is $89.54 and its 200 day moving average is $83.12. The stock has a market capitalization of $3.28 billion, a P/E ratio of 28.43 and a beta of 0.70. The company has a current ratio of 1.32, a quick ratio of 0.90 and a debt-to-equity ratio of 0.61. MGE Energy, Inc. has a 12-month low of $61.94 and a 12-month high of $94.57.

MGE Energy (NASDAQ:MGEE) last released its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.66 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.29). The business had revenue of $145.71 million for the quarter, compared to analysts’ expectations of $151.29 million. MGE Energy had a net margin of 17.45% and a return on equity of 10.04%. Research analysts expect that MGE Energy, Inc. will post 3.69 earnings per share for the current year.

MGE Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date is Friday, November 29th. MGE Energy’s payout ratio is 56.43%.

MGE Energy Company Profile

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.