Merit Financial Group LLC increased its stake in shares of MGE Energy, Inc. (NASDAQ:MGEE – Free Report) by 1.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 7,079 shares of the utilities provider’s stock after acquiring an additional 116 shares during the quarter. Merit Financial Group LLC’s holdings in MGE Energy were worth $665,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of MGEE. American Century Companies Inc. boosted its position in MGE Energy by 8.8% in the 2nd quarter. American Century Companies Inc. now owns 45,747 shares of the utilities provider’s stock valued at $3,418,000 after buying an additional 3,715 shares during the last quarter. 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 acquiring an additional 20,533 shares during the period. Mercer Global Advisors Inc. ADV boosted its holdings in MGE Energy by 18.4% in the second quarter. Mercer Global Advisors Inc. ADV now owns 12,580 shares of the utilities provider’s stock valued at $940,000 after acquiring an additional 1,953 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in MGE Energy by 31.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 4,164 shares of the utilities provider’s stock valued at $311,000 after acquiring an additional 999 shares during the last quarter. Finally, Public Sector Pension Investment Board increased its position in MGE Energy by 7.4% in the second quarter. Public Sector Pension Investment Board now owns 79,592 shares of the utilities provider’s stock worth $5,947,000 after purchasing an additional 5,472 shares during the period. Institutional investors and hedge funds own 52.58% of the company’s stock.
MGE Energy Trading Down 6.9 %
NASDAQ:MGEE opened at $87.70 on Thursday. The firm has a market capitalization of $3.18 billion, a price-to-earnings ratio of 26.82 and a beta of 0.76. MGE Energy, Inc. has a 1-year low of $61.94 and a 1-year high of $109.22. The business’s 50-day moving average price is $97.37 and its two-hundred day moving average price is $91.69. The company has a current ratio of 1.41, a quick ratio of 0.94 and a debt-to-equity ratio of 0.60.
MGE Energy Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be given a dividend of $0.45 per share. The ex-dividend date is Friday, February 28th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.05%. MGE Energy’s dividend payout ratio is 55.05%.
Wall Street Analysts Forecast Growth
MGEE has been the topic of several recent research reports. LADENBURG THALM/SH SH raised shares of MGE Energy to a “strong sell” rating in a research note on Thursday, December 12th. Morgan Stanley raised 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.
Check Out Our Latest Stock Analysis on MGE Energy
MGE Energy 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.
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