Renaissance Technologies LLC Has $33.28 Million Stake in MGE Energy, Inc. (NASDAQ:MGEE)

Renaissance Technologies LLC boosted its position in MGE Energy, Inc. (NASDAQ:MGEE) by 2.1% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 455,350 shares of the utilities provider’s stock after purchasing an additional 9,400 shares during the period. Renaissance Technologies LLC’s holdings in MGE Energy were worth $33,277,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of MGEE. First Trust Advisors LP lifted its stake in shares of MGE Energy by 11.0% during the 2nd quarter. First Trust Advisors LP now owns 504,053 shares of the utilities provider’s stock valued at $36,836,000 after buying an additional 50,065 shares in the last quarter. Gabelli Funds LLC grew its holdings in shares of MGE Energy by 0.3% during the 2nd quarter. Gabelli Funds LLC now owns 432,400 shares of the utilities provider’s stock valued at $31,600,000 after purchasing an additional 1,400 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of MGE Energy by 23.1% during the 4th quarter. Geode Capital Management LLC now owns 407,619 shares of the utilities provider’s stock valued at $24,440,000 after purchasing an additional 76,370 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of MGE Energy by 1.6% during the 2nd quarter. Wells Fargo & Company MN now owns 232,550 shares of the utilities provider’s stock valued at $16,995,000 after purchasing an additional 3,754 shares during the last quarter. Finally, Royal London Asset Management Ltd. grew its holdings in shares of MGE Energy by 14.2% during the 2nd quarter. Royal London Asset Management Ltd. now owns 174,679 shares of the utilities provider’s stock valued at $12,759,000 after purchasing an additional 21,701 shares during the last quarter. 44.08% of the stock is owned by institutional investors and hedge funds.

Shares of MGEE stock traded down $0.25 on Friday, hitting $74.82. 10,051 shares of the company’s stock traded hands, compared to its average volume of 90,297. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.33 and a current ratio of 1.65. MGE Energy, Inc. has a one year low of $56.64 and a one year high of $76.89. The company’s fifty day simple moving average is $74.82 and its 200 day simple moving average is $70.24. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of 29.86 and a beta of 0.39.

MGE Energy (NASDAQ:MGEE) last released its earnings results on Wednesday, August 7th. The utilities provider reported $0.45 EPS for the quarter. MGE Energy had a net margin of 15.05% and a return on equity of 10.38%. The company had revenue of $122.15 million for the quarter.

The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 15th. Investors of record on Sunday, September 1st will be issued a dividend of $0.352 per share. This represents a $1.41 annualized dividend and a dividend yield of 1.88%. The ex-dividend date is Thursday, August 29th.

In other MGE Energy news, Director James G. Berbee bought 375 shares of MGE Energy stock in a transaction that occurred on Wednesday, August 21st. The shares were bought at an average price of $75.90 per share, with a total value of $28,462.50. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.19% of the stock is currently owned by company insiders.

Separately, BidaskClub lowered shares of MGE Energy from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 7th.

MGE Energy Profile

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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