Great Valley Advisor Group Inc. Buys 6,347 Shares of MGE Energy, Inc. (NASDAQ:MGEE)

Great Valley Advisor Group Inc. lifted its stake in MGE Energy, Inc. (NASDAQ:MGEEFree Report) by 53.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,147 shares of the utilities provider’s stock after buying an additional 6,347 shares during the quarter. Great Valley Advisor Group Inc. owned about 0.05% of MGE Energy worth $1,660,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in MGEE. Citigroup Inc. boosted its holdings in MGE Energy by 62.4% in the 3rd quarter. Citigroup Inc. now owns 44,040 shares of the utilities provider’s stock worth $4,027,000 after buying an additional 16,927 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of MGE Energy by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 425,461 shares of the utilities provider’s stock valued at $38,908,000 after acquiring an additional 8,629 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of MGE Energy in the third quarter worth about $424,000. Advisors Asset Management Inc. grew its position in shares of MGE Energy by 75.0% during the third quarter. Advisors Asset Management Inc. now owns 8,039 shares of the utilities provider’s stock worth $735,000 after purchasing an additional 3,445 shares in the last quarter. Finally, Quest Partners LLC raised its stake in MGE Energy by 2,789.7% during the 3rd quarter. Quest Partners LLC now owns 13,495 shares of the utilities provider’s stock valued at $1,234,000 after purchasing an additional 13,028 shares during the period. 52.58% of the stock is currently owned by institutional investors.

MGE Energy Stock Up 0.0 %

Shares of MGEE stock opened at $104.14 on Monday. The stock has a market cap of $3.77 billion, a P/E ratio of 31.85 and a beta of 0.71. The company’s fifty day simple moving average is $94.35 and its two-hundred day simple moving average is $86.20. The company has a quick ratio of 0.94, a current ratio of 1.41 and a debt-to-equity ratio of 0.60. MGE Energy, Inc. has a 52 week low of $61.94 and a 52 week high of $109.22.

MGE Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend is Friday, November 29th. MGE Energy’s payout ratio is presently 55.05%.

Wall Street Analyst Weigh In

Separately, Morgan Stanley upped their price target on MGE Energy from $71.00 to $74.00 and gave the stock an “underweight” rating in a research note on Wednesday, September 25th.

Read Our Latest Stock Analysis on MGE Energy

About MGE Energy

(Free Report)

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.

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

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