BNP Paribas Arbitrage SA Reduces Holdings in MGE Energy, Inc. (NASDAQ:MGEE)

BNP Paribas Arbitrage SA lessened its position in shares of MGE Energy, Inc. (NASDAQ:MGEE) by 16.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,724 shares of the utilities provider’s stock after selling 6,301 shares during the period. BNP Paribas Arbitrage SA owned 0.09% of MGE Energy worth $2,436,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of MGEE. Price T Rowe Associates Inc. MD lifted its holdings in MGE Energy by 13.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,764,474 shares of the utilities provider’s stock worth $125,966,000 after purchasing an additional 215,433 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in MGE Energy by 26.6% during the 2nd quarter. Victory Capital Management Inc. now owns 945,551 shares of the utilities provider’s stock worth $70,387,000 after purchasing an additional 198,509 shares in the last quarter. BlackRock Inc. lifted its holdings in MGE Energy by 5.7% during the 1st quarter. BlackRock Inc. now owns 2,827,934 shares of the utilities provider’s stock worth $201,886,000 after purchasing an additional 151,819 shares in the last quarter. Geode Capital Management LLC lifted its holdings in MGE Energy by 6.9% during the 1st quarter. Geode Capital Management LLC now owns 612,750 shares of the utilities provider’s stock worth $43,744,000 after purchasing an additional 39,438 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in MGE Energy by 491.1% during the 1st quarter. Russell Investments Group Ltd. now owns 35,541 shares of the utilities provider’s stock worth $2,535,000 after purchasing an additional 29,528 shares in the last quarter. 49.89% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ MGEE opened at $75.35 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.31 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $2.72 billion, a P/E ratio of 25.80, a P/E/G ratio of 4.93 and a beta of 0.57. The stock’s 50-day simple moving average is $79.21 and its two-hundred day simple moving average is $75.89. MGE Energy, Inc. has a twelve month low of $61.38 and a twelve month high of $82.95.

MGE Energy (NASDAQ:MGEE) last announced its quarterly earnings data on Thursday, August 5th. The utilities provider reported $0.63 EPS for the quarter, beating the consensus estimate of $0.62 by $0.01. The firm had revenue of $130.73 million for the quarter. MGE Energy had a return on equity of 10.66% and a net margin of 18.48%. As a group, research analysts anticipate that MGE Energy, Inc. will post 2.89 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 15th. Stockholders of record on Wednesday, September 1st were given a dividend of $0.3875 per share. The ex-dividend date of this dividend was Tuesday, August 31st. This is a positive change from MGE Energy’s previous quarterly dividend of $0.37. This represents a $1.55 annualized dividend and a dividend yield of 2.06%. MGE Energy’s dividend payout ratio is 59.62%.

In related news, Director James G. Berbee purchased 374 shares of MGE Energy stock in a transaction that occurred on Thursday, August 26th. The shares were acquired at an average cost of $80.26 per share, for a total transaction of $30,017.24. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

A number of brokerages recently issued reports on MGEE. Zacks Investment Research cut MGE Energy from a “hold” rating to a “sell” rating in a report on Tuesday, September 21st. Morgan Stanley decreased their target price on MGE Energy from $74.00 to $73.00 and set an “equal weight” rating on the stock in a research note on Friday, September 17th.

MGE Energy Company Profile

MGE Energy, Inc provides natural gas and electric services. The firm operates its business through the following segments: Regulated Electric Utility Operations, Regulated Gas Utility Operations, Non-Regulated Energy Operations, Transmission Investments, and All Other. The Regulated Electric Utility Operations segment engages in generating, purchasing, and distributing electricity.

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

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