2,868 Shares in MGE Energy, Inc. (NASDAQ:MGEE) Purchased by Glenmede Trust Co. NA

Glenmede Trust Co. NA acquired a new position in MGE Energy, Inc. (NASDAQ:MGEE) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,868 shares of the utilities provider’s stock, valued at approximately $262,000.

Several other large investors have also modified their holdings of the business. Comerica Bank lifted its stake in shares of MGE Energy by 11,187.2% during the 1st quarter. Comerica Bank now owns 15,012 shares of the utilities provider’s stock worth $1,182,000 after acquiring an additional 14,879 shares during the last quarter. Royce & Associates LP increased its stake in MGE Energy by 155.4% in the third quarter. Royce & Associates LP now owns 11,668 shares of the utilities provider’s stock worth $1,067,000 after purchasing an additional 7,099 shares during the period. Susquehanna Fundamental Investments LLC lifted its position in shares of MGE Energy by 56.1% during the second quarter. Susquehanna Fundamental Investments LLC now owns 50,987 shares of the utilities provider’s stock worth $3,810,000 after purchasing an additional 18,315 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of MGE Energy during the third quarter valued at $584,000. Finally, Charles Schwab Investment Management Inc. boosted 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 purchasing an additional 8,629 shares during the period. Hedge funds and other institutional investors own 52.58% of the company’s stock.

MGE Energy Trading Down 1.8 %

Shares of NASDAQ MGEE opened at $100.92 on Friday. MGE Energy, Inc. has a twelve month low of $61.94 and a twelve month high of $109.22. The company has a quick ratio of 0.94, a current ratio of 1.41 and a debt-to-equity ratio of 0.60. The business has a fifty day simple moving average of $96.62 and a two-hundred day simple moving average of $87.54. The firm has a market cap of $3.65 billion, a PE ratio of 30.86 and a beta of 0.74.

MGE Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend is Friday, November 29th. MGE Energy’s dividend payout ratio (DPR) is presently 55.05%.

Wall Street Analysts Forecast Growth

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