Raymond James Financial Services Advisors Inc. Increases Stake in MGE Energy, Inc. (MGEE)

Raymond James Financial Services Advisors Inc. grew its holdings in shares of MGE Energy, Inc. (NASDAQ:MGEE) by 38.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,301 shares of the utilities provider’s stock after buying an additional 2,604 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in MGE Energy were worth $601,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. First Trust Advisors LP boosted its holdings in shares of MGE Energy by 4,817.6% during the 3rd quarter. First Trust Advisors LP now owns 314,777 shares of the utilities provider’s stock valued at $20,335,000 after buying an additional 308,376 shares in the last quarter. Shell Asset Management Co. boosted its holdings in shares of MGE Energy by 159.8% during the 3rd quarter. Shell Asset Management Co. now owns 47,778 shares of the utilities provider’s stock valued at $1,780,000 after buying an additional 29,389 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of MGE Energy during the 2nd quarter valued at $343,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of MGE Energy during the 2nd quarter valued at $3,849,000. Finally, State Street Corp boosted its holdings in shares of MGE Energy by 5.8% during the 2nd quarter. State Street Corp now owns 777,467 shares of the utilities provider’s stock valued at $50,028,000 after buying an additional 42,917 shares in the last quarter. Hedge funds and other institutional investors own 38.33% of the company’s stock.

A number of brokerages have recently commented on MGEE. BidaskClub cut shares of MGE Energy from a “sell” rating to a “strong sell” rating in a report on Thursday, August 17th. Gabelli restated a “hold” rating on shares of MGE Energy in a report on Monday, November 13th. Finally, Zacks Investment Research upgraded shares of MGE Energy from a “sell” rating to a “hold” rating in a report on Thursday, September 7th.

MGE Energy, Inc. (NASDAQ MGEE) opened at $65.45 on Tuesday. The stock has a market cap of $2,274.25, a PE ratio of 29.82 and a beta of 0.32. MGE Energy, Inc. has a one year low of $59.00 and a one year high of $68.70. 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 (NASDAQ:MGEE) last announced its quarterly earnings results on Friday, November 3rd. The utilities provider reported $0.77 earnings per share (EPS) for the quarter. The company had revenue of $139.54 million for the quarter. MGE Energy had a net margin of 13.52% and a return on equity of 10.31%. analysts expect that MGE Energy, Inc. will post 2.2 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be paid a $0.3225 dividend. This represents a $1.29 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend is Thursday, November 30th. MGE Energy’s payout ratio is 58.64%.

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MGE Energy Company Profile

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).

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

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