UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $6.61 Million Position in MGE Energy, Inc. (NASDAQ:MGEE)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its holdings in MGE Energy, Inc. (NASDAQ:MGEE) by 8.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 72,326 shares of the utilities provider’s stock after selling 6,610 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in MGE Energy were worth $6,614,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Millennium Management LLC increased its position in MGE Energy by 136.0% in the second quarter. Millennium Management LLC now owns 79,200 shares of the utilities provider’s stock worth $5,918,000 after purchasing an additional 45,647 shares during the period. Squarepoint Ops LLC bought a new stake in shares of MGE Energy during the 2nd quarter worth approximately $1,671,000. International Assets Investment Management LLC raised its stake 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 worth $1,990,000 after purchasing an additional 21,521 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in MGE Energy by 2.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 783,396 shares of the utilities provider’s stock valued at $58,536,000 after acquiring an additional 20,533 shares during the period. Finally, Susquehanna Fundamental Investments LLC raised its stake in MGE Energy by 56.1% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 50,987 shares of the utilities provider’s stock valued at $3,810,000 after acquiring an additional 18,315 shares during the period. 52.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

MGE Energy Stock Performance

MGEE opened at $99.47 on Wednesday. The firm has a market cap of $3.60 billion, a P/E ratio of 30.42 and a beta of 0.74. MGE Energy, Inc. has a 52-week low of $61.94 and a 52-week 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 business’s fifty day moving average is $97.12 and its 200-day moving average is $88.06.

MGE Energy Announces Dividend

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 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend is Friday, November 29th. MGE Energy’s dividend payout ratio (DPR) 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.