State of Alaska Department of Revenue Decreases Stock Holdings in MGE Energy, Inc. (NASDAQ:MGEE)

State of Alaska Department of Revenue lowered its position in shares of MGE Energy, Inc. (NASDAQ:MGEE) by 0.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 20,522 shares of the utilities provider’s stock after selling 122 shares during the quarter. State of Alaska Department of Revenue’s holdings in MGE Energy were worth $1,928,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Versant Capital Management Inc boosted its holdings in shares of 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 purchasing an additional 257 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in MGE Energy by 88.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 357 shares of the utilities provider’s stock worth $34,000 after buying an additional 168 shares during the period. Assetmark Inc. bought a new stake in shares of MGE Energy in the 3rd quarter worth approximately $35,000. Covestor Ltd increased its stake in shares of MGE Energy by 37.3% during the third quarter. Covestor Ltd now owns 453 shares of the utilities provider’s stock valued at $42,000 after buying an additional 123 shares during the period. Finally, KBC Group NV raised its holdings in shares of MGE Energy by 32.2% during the fourth quarter. KBC Group NV now owns 1,478 shares of the utilities provider’s stock valued at $139,000 after acquiring an additional 360 shares in the last quarter. Institutional investors own 52.58% of the company’s stock.

MGE Energy Price Performance

MGEE stock opened at $90.06 on Wednesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.41 and a quick ratio of 0.94. MGE Energy, Inc. has a 1 year low of $61.94 and a 1 year high of $109.22. The firm has a 50-day moving average of $93.05 and a 200 day moving average of $92.47. The company has a market cap of $3.26 billion, a P/E ratio of 27.54 and a beta of 0.76.

MGE Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Friday, February 28th. MGE Energy’s dividend payout ratio is currently 55.05%.

Analyst Ratings Changes

Separately, LADENBURG THALM/SH SH upgraded shares of MGE Energy to a “strong sell” rating in a report on Thursday, December 12th.

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.