MGE Energy, Inc. (NASDAQ:MGEE) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC boosted its position in MGE Energy, Inc. (NASDAQ:MGEE) by 0.7% in the third quarter, HoldingsChannel.com reports. The firm owned 863,707 shares of the utilities provider’s stock after purchasing an additional 5,796 shares during the quarter. Geode Capital Management LLC’s holdings in MGE Energy were worth $79,001,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its position in shares of MGE Energy by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 425,461 shares of the utilities provider’s stock valued at $38,908,000 after purchasing an additional 8,629 shares in the last quarter. Royce & Associates LP boosted its holdings in MGE Energy by 155.4% during the third quarter. Royce & Associates LP now owns 11,668 shares of the utilities provider’s stock worth $1,067,000 after buying an additional 7,099 shares in the last quarter. Susquehanna Fundamental Investments LLC grew its position in MGE Energy by 56.1% in 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 during the last quarter. GSA Capital Partners LLP bought a new position in shares of MGE Energy in the third quarter valued at $584,000. Finally, International Assets Investment Management LLC lifted its position in shares of MGE Energy by 9,042.4% during the 3rd quarter. International Assets Investment Management LLC now owns 21,759 shares of the utilities provider’s stock valued at $1,990,000 after acquiring an additional 21,521 shares during the last quarter. 52.58% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Morgan Stanley lifted their target price on 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 note on Thursday, December 12th.

MGE Energy Price Performance

MGEE opened at $94.46 on Friday. The firm has a market capitalization of $3.42 billion, a P/E ratio of 28.89 and a beta of 0.74. The stock has a fifty day moving average of $98.03 and a 200-day moving average of $88.82. 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 12-month low of $61.94 and a 12-month high of $109.22.

MGE Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, December 15th. Shareholders 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 1.91%. 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.