MGE Energy, Inc. (NASDAQ:MGEE) Shares Purchased by Barclays PLC

Barclays PLC raised its stake in MGE Energy, Inc. (NASDAQ:MGEE) by 345.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 62,308 shares of the utilities provider’s stock after acquiring an additional 48,330 shares during the quarter. Barclays PLC’s holdings in MGE Energy were worth $5,697,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quest Partners LLC boosted its position in MGE Energy by 5,088.9% during the second quarter. Quest Partners LLC now owns 467 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 458 shares during the last quarter. Assetmark Inc. purchased a new position in shares of MGE Energy during the 3rd quarter worth $35,000. Covestor Ltd boosted its holdings in shares of MGE Energy by 37.3% during the third quarter. Covestor Ltd now owns 453 shares of the utilities provider’s stock worth $42,000 after purchasing an additional 123 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of MGE Energy in the second quarter valued at $58,000. Finally, nVerses Capital LLC acquired a new position in MGE Energy in the second quarter valued at $75,000. 52.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

MGE Energy Trading Up 0.6 %

NASDAQ:MGEE opened at $94.46 on Friday. The business’s 50-day moving average is $98.03 and its two-hundred day moving average is $88.82. The firm has a market capitalization of $3.42 billion, a PE ratio of 28.89 and a beta of 0.74. MGE Energy, Inc. has a 12 month low of $61.94 and a 12 month high of $109.22. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend was Friday, November 29th. MGE Energy’s dividend payout ratio (DPR) is currently 55.05%.

About MGE Energy

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.