Thrivent Financial for Lutherans Boosts Stake in MGE Energy, Inc. (NASDAQ:MGEE)

Thrivent Financial for Lutherans grew its position in shares of MGE Energy, Inc. (NASDAQ:MGEE) by 2.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,849 shares of the utilities provider’s stock after acquiring an additional 818 shares during the quarter. Thrivent Financial for Lutherans owned about 0.09% of MGE Energy worth $2,821,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. SG Americas Securities LLC purchased a new position in shares of MGE Energy in the 1st quarter valued at $100,000. American International Group Inc. raised its position in MGE Energy by 8.4% in the first quarter. American International Group Inc. now owns 19,673 shares of the utilities provider’s stock valued at $1,549,000 after purchasing an additional 1,522 shares during the period. CANADA LIFE ASSURANCE Co acquired a new position in shares of MGE Energy during the first quarter worth about $2,187,000. Advisors Asset Management Inc. acquired a new position in shares of MGE Energy during the first quarter worth about $232,000. Finally, BOKF NA purchased a new stake in shares of MGE Energy in the first quarter worth about $152,000. 52.58% of the stock is currently owned by hedge funds and other institutional investors.

MGE Energy Price Performance

Shares of MGEE stock opened at $103.34 on Wednesday. The firm has a fifty day simple moving average of $94.61 and a 200-day simple moving average of $86.36. The company has a market capitalization of $3.74 billion, a PE ratio of 31.55 and a beta of 0.71. MGE Energy, Inc. has a twelve month low of $61.94 and a twelve month high of $109.22. 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 firm also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.80 annualized dividend and a dividend yield of 1.74%. MGE Energy’s dividend payout ratio is presently 55.05%.

Wall Street Analyst Weigh In

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

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.