California Public Employees Retirement System Acquires 14,498 Shares of MGE Energy, Inc. (NASDAQ:MGEE)


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California Public Employees Retirement System increased its holdings in MGE Energy, Inc. (NASDAQ:MGEE) by 17.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 97,021 shares of the utilities provider’s stock after buying an additional 14,498 shares during the period. California Public Employees Retirement System owned 0.27% of MGE Energy worth $6,794,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Clear Harbor Asset Management LLC purchased a new stake in shares of MGE Energy during the third quarter worth $38,000. WASHINGTON TRUST Co purchased a new stake in MGE Energy during the 3rd quarter worth about $42,000. Advisory Alpha LLC bought a new position in MGE Energy in the 3rd quarter worth about $45,000. Fifth Third Bancorp grew its holdings in MGE Energy by 236.4% during the 3rd quarter. Fifth Third Bancorp now owns 757 shares of the utilities provider’s stock valued at $47,000 after buying an additional 532 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new stake in shares of MGE Energy during the fourth quarter valued at about $76,000. Institutional investors and hedge funds own 47.20% of the company’s stock.

Several equities analysts recently commented on MGEE shares. Morgan Stanley reduced their price objective on shares of MGE Energy from $68.00 to $65.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 20th. Zacks Investment Research raised shares of MGE Energy from a “hold” rating to a “buy” rating and set a $76.00 price target for the company in a report on Friday, January 15th.

Shares of NASDAQ MGEE opened at $65.74 on Tuesday. The stock’s 50-day simple moving average is $66.12 and its two-hundred day simple moving average is $67.04. MGE Energy, Inc. has a twelve month low of $47.19 and a twelve month high of $80.68. The firm has a market capitalization of $2.38 billion, a P/E ratio of 24.90, a P/E/G ratio of 4.86 and a beta of 0.49. The company has a quick ratio of 1.30, a current ratio of 1.73 and a debt-to-equity ratio of 0.55.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 15th. Stockholders of record on Monday, March 1st will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Friday, February 26th. MGE Energy’s payout ratio is 58.96%.

About MGE Energy

MGE Energy, Inc, through its subsidiaries, operates as a public utility holding company primarily in Wisconsin. It operates through five segments: Regulated Electric Utility Operations; Regulated Gas Utility Operations; Nonregulated Energy Operations; Transmission Investments; and All Other. The company generates, purchases, and distributes electricity; owns or leases electric generation facilities located in Wisconsin and Iowa; and plans, constructs, operates, maintains, and expands transmission facilities to provide transmission services.

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Institutional Ownership by Quarter for MGE Energy (NASDAQ:MGEE)

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