Crossmark Global Holdings Inc. Purchases Shares of 3,178 MGE Energy, Inc. (NASDAQ:MGEE)

Crossmark Global Holdings Inc. purchased a new stake in shares of MGE Energy, Inc. (NASDAQ:MGEE) in the 3rd quarter, Holdings Channel.com reports. The fund purchased 3,178 shares of the utilities provider’s stock, valued at approximately $290,000.

A number of other hedge funds also recently modified their holdings of the business. Comerica Bank increased its holdings in MGE Energy by 11,187.2% in the first quarter. Comerica Bank now owns 15,012 shares of the utilities provider’s stock valued at $1,182,000 after purchasing an additional 14,879 shares during the period. Edgestream Partners L.P. bought a new stake in shares of MGE Energy in the 1st quarter valued at about $1,178,000. CANADA LIFE ASSURANCE Co bought a new position in shares of MGE Energy during the first quarter worth about $2,187,000. Teachers Retirement System of The State of Kentucky acquired a new position in shares of MGE Energy in the first quarter worth approximately $490,000. Finally, Susquehanna Fundamental Investments LLC lifted its stake in shares of MGE Energy by 56.1% in the second quarter. Susquehanna Fundamental Investments LLC now owns 50,987 shares of the utilities provider’s stock worth $3,810,000 after acquiring an additional 18,315 shares during the period. Institutional investors and hedge funds own 52.58% of the company’s stock.

Analyst Ratings Changes

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

MGE Energy Price Performance

MGEE stock opened at $104.86 on Monday. 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 firm has a market cap of $3.80 billion, a price-to-earnings ratio of 32.07 and a beta of 0.71. The company’s fifty day simple moving average is $92.73 and its 200 day simple moving average is $85.34. MGE Energy, Inc. has a 12-month low of $61.94 and a 12-month high of $109.22.

MGE Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be given a dividend of $0.45 per share. The ex-dividend date is Friday, November 29th. This represents a $1.80 annualized dividend and a dividend yield of 1.72%. MGE Energy’s payout ratio is 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.