MGE Energy, Inc. (NASDAQ:MGEE) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC lowered its position in MGE Energy, Inc. (NASDAQ:MGEE) by 1.8% in the third quarter, HoldingsChannel reports. The fund owned 7,030 shares of the utilities provider’s stock after selling 131 shares during the quarter. HighTower Advisors LLC’s holdings in MGE Energy were worth $648,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. SG Americas Securities LLC lifted its position in shares of MGE Energy by 219.0% during the 2nd quarter. SG Americas Securities LLC now owns 4,064 shares of the utilities provider’s stock valued at $304,000 after buying an additional 2,790 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in MGE Energy by 8.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 10,717 shares of the utilities provider’s stock valued at $801,000 after purchasing an additional 876 shares in the last quarter. Nisa Investment Advisors LLC grew its position in shares of MGE Energy by 9.0% in the second quarter. Nisa Investment Advisors LLC now owns 2,566 shares of the utilities provider’s stock valued at $192,000 after purchasing an additional 212 shares during the period. Louisiana State Employees Retirement System grew its position in shares of MGE Energy by 1.7% in the second quarter. Louisiana State Employees Retirement System now owns 18,200 shares of the utilities provider’s stock valued at $1,360,000 after purchasing an additional 300 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of MGE Energy by 3.6% during the second quarter. Bank of New York Mellon Corp now owns 444,057 shares of the utilities provider’s stock worth $33,180,000 after purchasing an additional 15,522 shares in the last quarter. 52.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Morgan Stanley raised their price target on shares of MGE Energy from $71.00 to $74.00 and gave the company an “underweight” rating in a research note on Wednesday, September 25th. LADENBURG THALM/SH SH upgraded MGE Energy to a “strong sell” rating in a research report on Thursday, December 12th.

MGE Energy Trading Up 1.1 %

Shares of MGEE opened at $93.94 on Friday. The firm’s fifty day moving average is $97.94 and its two-hundred day moving average is $88.78. The stock has a market cap of $3.40 billion, a PE ratio of 28.73 and a beta of 0.74. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, December 15th. Investors of record on Sunday, December 1st were given a dividend of $0.45 per share. The ex-dividend date was Friday, November 29th. This represents a $1.80 dividend on an annualized basis and a yield of 1.92%. 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.