Captrust Financial Advisors Cuts Holdings in MGE Energy, Inc. (NASDAQ:MGEE)

Captrust Financial Advisors trimmed its holdings in shares of MGE Energy, Inc. (NASDAQ:MGEE) by 43.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,226 shares of the utilities provider’s stock after selling 1,728 shares during the period. Captrust Financial Advisors’ holdings in MGE Energy were worth $204,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Millennium Management LLC increased its stake in MGE Energy by 136.0% in the 2nd quarter. Millennium Management LLC now owns 79,200 shares of the utilities provider’s stock valued at $5,918,000 after purchasing an additional 45,647 shares in the last quarter. Squarepoint Ops LLC purchased a new position in MGE Energy during the second quarter worth $1,671,000. International Assets Investment Management LLC increased its position in MGE Energy by 9,042.4% during the third quarter. International Assets Investment Management LLC now owns 21,759 shares of the utilities provider’s stock worth $1,990,000 after buying an additional 21,521 shares in the last quarter. Dimensional Fund Advisors LP increased its position in MGE Energy by 2.7% during the second quarter. Dimensional Fund Advisors LP now owns 783,396 shares of the utilities provider’s stock worth $58,536,000 after buying an additional 20,533 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC increased its position in MGE Energy by 56.1% during the second quarter. Susquehanna Fundamental Investments LLC now owns 50,987 shares of the utilities provider’s stock worth $3,810,000 after buying an additional 18,315 shares in the last quarter. 52.58% of the stock is owned by hedge funds and other institutional investors.

MGE Energy Trading Down 1.5 %

NASDAQ:MGEE opened at $96.33 on Tuesday. The business’s 50-day moving average is $97.75 and its two-hundred day moving average is $88.64. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.41 and a quick ratio of 0.94. MGE Energy, Inc. has a 12 month low of $61.94 and a 12 month high of $109.22. The firm has a market capitalization of $3.49 billion, a PE ratio of 29.46 and a beta of 0.74.

MGE Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st were given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.87%. The ex-dividend date was Friday, November 29th. MGE Energy’s dividend payout ratio (DPR) is presently 55.05%.

Wall Street Analyst Weigh In

Separately, Morgan Stanley raised 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 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.