Amalgamated Bank Sells 406 Shares of MGE Energy, Inc. (NASDAQ:MGEE)

Amalgamated Bank lowered its position in shares of MGE Energy, Inc. (NASDAQ:MGEE) by 3.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,659 shares of the utilities provider’s stock after selling 406 shares during the quarter. Amalgamated Bank’s holdings in MGE Energy were worth $975,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Van ECK Associates Corp grew its holdings in shares of MGE Energy by 7.3% in the 3rd quarter. Van ECK Associates Corp now owns 10,020 shares of the utilities provider’s stock valued at $916,000 after buying an additional 682 shares during the period. Creative Financial Designs Inc. ADV grew its stake in MGE Energy by 4.1% in the third quarter. Creative Financial Designs Inc. ADV now owns 7,819 shares of the utilities provider’s stock valued at $715,000 after acquiring an additional 307 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in MGE Energy by 2.7% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 11,007 shares of the utilities provider’s stock valued at $1,007,000 after acquiring an additional 290 shares during the period. International Assets Investment Management LLC increased its holdings in shares of MGE Energy by 9,042.4% in the third quarter. International Assets Investment Management LLC now owns 21,759 shares of the utilities provider’s stock worth $1,990,000 after acquiring an additional 21,521 shares in the last quarter. Finally, Everence Capital Management Inc. raised its position in shares of MGE Energy by 49.2% during the third quarter. Everence Capital Management Inc. now owns 4,820 shares of the utilities provider’s stock worth $441,000 after purchasing an additional 1,590 shares during the period. Institutional investors own 52.58% of the company’s stock.

MGE Energy Price Performance

MGEE stock opened at $105.70 on Friday. The company has a current ratio of 1.41, a quick ratio of 0.94 and a debt-to-equity ratio of 0.60. The stock has a market cap of $3.83 billion, a PE ratio of 32.32 and a beta of 0.71. The stock has a 50-day moving average price of $92.36 and a two-hundred day moving average price of $85.07. MGE Energy, Inc. has a 1 year low of $61.94 and a 1 year high of $109.22.

MGE Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Friday, November 29th. MGE Energy’s payout ratio is 55.05%.

Wall Street Analyst Weigh In

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

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.