Virtu Financial LLC Makes New Investment in MGE Energy, Inc. (NASDAQ:MGEE)

Virtu Financial LLC acquired a new stake in shares of MGE Energy, Inc. (NASDAQ:MGEE) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 5,325 shares of the utilities provider’s stock, valued at approximately $385,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Speece Thorson Capital Group Inc. purchased a new position in shares of MGE Energy during the fourth quarter valued at about $6,145,000. Neuberger Berman Group LLC bought a new stake in MGE Energy in the 4th quarter worth approximately $213,000. Quadrature Capital Ltd raised its holdings in shares of MGE Energy by 122.1% during the 4th quarter. Quadrature Capital Ltd now owns 21,484 shares of the utilities provider’s stock worth $1,554,000 after acquiring an additional 11,809 shares in the last quarter. Security National Bank bought a new position in shares of MGE Energy during the 4th quarter valued at approximately $43,000. Finally, Magellan Asset Management Ltd grew its holdings in shares of MGE Energy by 2.4% in the fourth quarter. Magellan Asset Management Ltd now owns 26,485 shares of the utilities provider’s stock valued at $1,915,000 after purchasing an additional 623 shares in the last quarter. Institutional investors own 52.58% of the company’s stock.

MGE Energy Stock Performance

NASDAQ MGEE opened at $76.16 on Thursday. The business’s 50 day moving average price is $78.36 and its 200-day moving average price is $73.85. MGE Energy, Inc. has a fifty-two week low of $61.94 and a fifty-two week high of $83.27. The company has a market cap of $2.76 billion, a P/E ratio of 22.94 and a beta of 0.73. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.09 and a current ratio of 1.59.

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

MGE Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Saturday, June 15th. Shareholders of record on Saturday, June 1st were paid a $0.428 dividend. This represents a $1.71 annualized dividend and a yield of 2.25%. The ex-dividend date was Friday, May 31st. MGE Energy’s payout ratio is currently 51.51%.

Analysts Set New Price Targets

MGEE has been the subject of several research reports. StockNews.com upgraded shares of MGE Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, May 29th. Morgan Stanley increased their price target on shares of MGE Energy from $63.00 to $68.00 and gave the company an “underweight” rating in a report on Tuesday, May 28th.

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.