Swiss National Bank Has $6.46 Million Position in MGE Energy, Inc. (NASDAQ:MGEE)

Swiss National Bank trimmed its stake in MGE Energy, Inc. (NASDAQ:MGEE) by 1.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 70,650 shares of the utilities provider’s stock after selling 700 shares during the quarter. Swiss National Bank’s holdings in MGE Energy were worth $6,461,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MGEE. Quest Partners LLC boosted its position in shares of MGE Energy by 5,088.9% during the 2nd quarter. Quest Partners LLC now owns 467 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 458 shares in the last quarter. Assetmark Inc. bought a new position in MGE Energy in the third quarter worth approximately $35,000. Covestor Ltd boosted its holdings in MGE Energy by 37.3% in the third quarter. Covestor Ltd now owns 453 shares of the utilities provider’s stock worth $42,000 after acquiring an additional 123 shares in the last quarter. GAMMA Investing LLC grew its stake in MGE Energy by 244.6% in the second quarter. GAMMA Investing LLC now owns 672 shares of the utilities provider’s stock valued at $50,000 after acquiring an additional 477 shares during the period. Finally, DekaBank Deutsche Girozentrale bought a new stake in shares of MGE Energy during the second quarter valued at approximately $58,000. 52.58% of the stock is owned by institutional investors.

MGE Energy Trading Down 1.3 %

NASDAQ:MGEE opened at $103.34 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 one year low of $61.94 and a one year high of $109.22. The company has a market cap of $3.74 billion, a PE ratio of 31.60 and a beta of 0.71. The firm has a 50-day moving average of $94.61 and a 200-day moving average of $86.36.

MGE Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date is Friday, November 29th. MGE Energy’s dividend payout ratio is currently 55.05%.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley increased their target price on MGE Energy from $71.00 to $74.00 and gave the stock an “underweight” rating in a 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.