Citigroup Inc. Increases Stock Position in MGE Energy, Inc. (NASDAQ:MGEE)

Citigroup Inc. raised its holdings in MGE Energy, Inc. (NASDAQ:MGEE) by 62.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 44,040 shares of the utilities provider’s stock after purchasing an additional 16,927 shares during the period. Citigroup Inc.’s holdings in MGE Energy were worth $4,027,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of MGEE. Dimensional Fund Advisors LP lifted its stake in shares of 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 buying an additional 20,533 shares during the period. Bank of New York Mellon Corp lifted 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 valued at $33,180,000 after buying an additional 15,522 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of MGE Energy by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 425,461 shares of the utilities provider’s stock valued at $38,908,000 after buying an additional 8,629 shares during the period. Public Sector Pension Investment Board lifted its stake in shares of MGE Energy by 7.4% during the second quarter. Public Sector Pension Investment Board now owns 79,592 shares of the utilities provider’s stock valued at $5,947,000 after buying an additional 5,472 shares during the period. Finally, Millennium Management LLC lifted its stake in shares of MGE Energy by 136.0% during the second quarter. Millennium Management LLC now owns 79,200 shares of the utilities provider’s stock valued at $5,918,000 after buying an additional 45,647 shares during the period. Hedge funds and other institutional investors own 52.58% of the company’s stock.

MGE Energy Stock Performance

Shares of MGEE stock opened at $104.07 on Wednesday. MGE Energy, Inc. has a one year low of $61.94 and a one year high of $109.22. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.94 and a current ratio of 1.41. The company has a 50 day moving average price of $95.91 and a 200 day moving average price of $87.18. The firm has a market capitalization of $3.77 billion, a price-to-earnings ratio of 31.83 and a beta of 0.74.

MGE Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.73%. The ex-dividend date is Friday, November 29th. MGE Energy’s dividend payout ratio (DPR) is 55.05%.

Analysts Set New Price Targets

Separately, Morgan Stanley upped their price objective 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.

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.