Intech Investment Management LLC Invests $424,000 in MGE Energy, Inc. (NASDAQ:MGEE)

Intech Investment Management LLC acquired a new stake in shares of MGE Energy, Inc. (NASDAQ:MGEE) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 4,634 shares of the utilities provider’s stock, valued at approximately $424,000.

Several other institutional investors have also bought and sold shares of the stock. Millennium Management LLC boosted its position in shares of 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 during the period. Cetera Investment Advisers boosted its position in shares of MGE Energy by 360.1% in the first quarter. Cetera Investment Advisers now owns 29,622 shares of the utilities provider’s stock worth $2,332,000 after buying an additional 23,184 shares during the period. Squarepoint Ops LLC acquired a new position in shares of MGE Energy in the 2nd quarter valued at about $1,671,000. International Assets Investment Management LLC grew its holdings 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 in the last quarter. Finally, Dimensional Fund Advisors LP boosted 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 valued at $58,536,000 after purchasing an additional 20,533 shares during the last quarter. Institutional investors and hedge funds own 52.58% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley lifted their price target on shares of MGE Energy from $71.00 to $74.00 and gave the company an “underweight” rating in a research report on Wednesday, September 25th.

MGE Energy Price Performance

MGE Energy stock opened at $104.91 on Tuesday. 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. The business’s 50-day simple moving average is $95.66 and its 200 day simple moving average is $87.01. The stock has a market cap of $3.80 billion, a price-to-earnings ratio of 31.84 and a beta of 0.71.

MGE Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date is Friday, November 29th. MGE Energy’s dividend 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.