Legacy Private Trust Co. Makes New Investment in MGE Energy, Inc. (NASDAQ:MGEE)

Legacy Private Trust Co. acquired a new stake in MGE Energy, Inc. (NASDAQ:MGEE) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 3,792 shares of the utilities provider’s stock, valued at approximately $356,000.

Other hedge funds also recently modified their holdings of the company. Versant Capital Management Inc raised its position in MGE Energy by 367.1% during the fourth quarter. Versant Capital Management Inc now owns 327 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 257 shares in the last quarter. Assetmark Inc. bought a new stake in shares of MGE Energy in the 3rd quarter valued at about $35,000. Covestor Ltd lifted its stake in MGE Energy by 37.3% in the 3rd quarter. Covestor Ltd now owns 453 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 123 shares during the last quarter. Quest Partners LLC grew its holdings in MGE Energy by 5,088.9% during the second quarter. Quest Partners LLC now owns 467 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 458 shares during the period. Finally, DekaBank Deutsche Girozentrale acquired a new position in MGE Energy during the second quarter worth approximately $58,000. Institutional investors own 52.58% of the company’s stock.

MGE Energy Trading Up 0.2 %

Shares of NASDAQ:MGEE opened at $91.20 on Thursday. MGE Energy, Inc. has a 12-month low of $61.94 and a 12-month high of $109.22. The business has a 50 day moving average of $98.60 and a 200-day moving average of $90.54. 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 stock has a market cap of $3.30 billion, a PE ratio of 27.89 and a beta of 0.76.

MGE Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, December 15th. Investors of record on Sunday, December 1st were paid a $0.45 dividend. The ex-dividend date was Friday, November 29th. This represents a $1.80 annualized dividend and a yield of 1.97%. MGE Energy’s dividend payout ratio (DPR) is presently 55.05%.

Wall Street Analysts Forecast Growth

MGEE has been the subject of a number of recent analyst reports. LADENBURG THALM/SH SH upgraded MGE Energy to a “strong sell” rating in a research note on Thursday, December 12th. Morgan Stanley lifted their price objective on shares of 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 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.