Covestor Ltd Has $42,000 Position in MGE Energy, Inc. (NASDAQ:MGEE)

Covestor Ltd lifted its holdings in shares of MGE Energy, Inc. (NASDAQ:MGEE) by 37.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 453 shares of the utilities provider’s stock after acquiring an additional 123 shares during the period. Covestor Ltd’s holdings in MGE Energy were worth $42,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Comerica Bank increased its stake in MGE Energy by 11,187.2% in the 1st quarter. Comerica Bank now owns 15,012 shares of the utilities provider’s stock valued at $1,182,000 after buying an additional 14,879 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in shares of MGE Energy during the 1st quarter valued at $1,178,000. CANADA LIFE ASSURANCE Co purchased a new stake in shares of MGE Energy during the 1st quarter valued at $2,187,000. Teachers Retirement System of The State of Kentucky purchased a new stake in shares of MGE Energy during the 1st quarter valued at $490,000. Finally, Susquehanna Fundamental Investments LLC increased its position in shares of MGE Energy by 56.1% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 50,987 shares of the utilities provider’s stock valued at $3,810,000 after purchasing an additional 18,315 shares during the last quarter. Institutional investors and hedge funds own 52.58% of the company’s stock.

Analyst Ratings Changes

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

MGE Energy Stock Down 0.8 %

MGEE stock opened at $104.86 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.41 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $3.80 billion, a PE ratio of 32.07 and a beta of 0.71. MGE Energy, Inc. has a twelve month low of $61.94 and a twelve month high of $109.22. The stock has a 50-day simple moving average of $92.73 and a two-hundred day simple moving average of $85.25.

MGE Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend is Friday, November 29th. MGE Energy’s payout ratio is presently 55.05%.

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.