Gabelli Funds LLC Has $25.39 Million Holdings in MGE Energy, Inc. (NASDAQ:MGEE)

Gabelli Funds LLC lessened its position in MGE Energy, Inc. (NASDAQ:MGEE) by 16.7% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 322,500 shares of the utilities provider’s stock after selling 64,500 shares during the period. Gabelli Funds LLC owned approximately 0.89% of MGE Energy worth $25,387,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of MGE Energy by 12.4% in the first 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. lifted its holdings in shares of MGE Energy by 4,545.3% in the first quarter. Principal Financial Group Inc. now owns 204,066 shares of the utilities provider’s stock valued at $16,064,000 after purchasing an additional 199,673 shares in the last quarter. Speece Thorson Capital Group Inc. bought a new position in shares of MGE Energy in the fourth quarter valued at approximately $6,145,000. Victory Capital Management Inc. lifted its holdings in shares of MGE Energy by 5.1% in the fourth quarter. Victory Capital Management Inc. now owns 1,229,511 shares of the utilities provider’s stock valued at $88,906,000 after purchasing an additional 60,190 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of MGE Energy in the first quarter valued at approximately $2,572,000. Institutional investors and hedge funds own 52.58% of the company’s stock.

MGE Energy Stock Performance

MGE Energy stock traded up $0.45 during mid-day trading on Friday, reaching $86.46. 137,426 shares of the company’s stock were exchanged, compared to its average volume of 135,913. The business’s fifty day simple moving average is $78.47 and its 200 day simple moving average is $75.03. The firm has a market capitalization of $3.13 billion, a PE ratio of 26.04 and a beta of 0.70. MGE Energy, Inc. has a one year low of $61.94 and a one year high of $87.48. The company has a quick ratio of 1.09, a current ratio of 1.59 and a debt-to-equity ratio of 0.62.

MGE Energy (NASDAQ:MGEE) last issued its quarterly earnings results on Wednesday, May 8th. The utilities provider reported $0.93 EPS for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.01). The business had revenue of $191.34 million for the quarter, compared to the consensus estimate of $221.46 million. MGE Energy had a return on equity of 10.60% and a net margin of 18.12%. On average, sell-side analysts expect that MGE Energy, Inc. will post 3.69 earnings per share for the current year.

MGE Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, June 15th. Shareholders of record on Saturday, June 1st were given a $0.428 dividend. This represents a $1.71 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend was Friday, May 31st. MGE Energy’s dividend payout ratio is currently 51.51%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on MGEE shares. Morgan Stanley dropped their target price on MGE Energy from $68.00 to $65.00 and set an “underweight” rating on the stock in a report on Monday, June 24th. StockNews.com upgraded MGE Energy from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th.

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.