MGE Energy, Inc. (NASDAQ:MGEE) Holdings Lowered by Magellan Asset Management Ltd

Magellan Asset Management Ltd lowered its holdings in MGE Energy, Inc. (NASDAQ:MGEE) by 2.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,575 shares of the utilities provider’s stock after selling 584 shares during the period. Magellan Asset Management Ltd’s holdings in MGE Energy were worth $2,023,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of MGEE. EverSource Wealth Advisors LLC lifted its position in MGE Energy by 5,333.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 326 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 320 shares during the last quarter. Avalon Trust Co bought a new position in MGE Energy during the first quarter worth about $47,000. Ameritas Advisory Services LLC acquired a new stake in MGE Energy in the 1st quarter valued at $49,000. Money Concepts Capital Corp acquired a new stake in shares of MGE Energy in the 4th quarter valued at $48,000. Finally, Steward Partners Investment Advisory LLC grew its stake in MGE Energy by 39.0% during the first quarter. Steward Partners Investment Advisory LLC now owns 834 shares of the utilities provider’s stock worth $65,000 after buying an additional 234 shares during the last quarter. Institutional investors own 54.08% of the company’s stock.

Insider Buying and Selling at MGE Energy

In other MGE Energy news, Director James G. Berbee purchased 434 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The shares were acquired at an average price of $74.84 per share, for a total transaction of $32,480.56. Following the purchase, the director now owns 8,291 shares in the company, valued at $620,498.44. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.23% of the company’s stock.

MGE Energy Stock Up 0.1 %

Shares of NASDAQ:MGEE traded up $0.04 during mid-day trading on Tuesday, reaching $73.53. 5,831 shares of the stock were exchanged, compared to its average volume of 90,944. The company has a market cap of $2.66 billion, a P/E ratio of 22.29, a P/E/G ratio of 4.09 and a beta of 0.76. The stock’s 50 day simple moving average is $71.90 and its 200-day simple moving average is $74.95. The company has a quick ratio of 1.17, a current ratio of 1.76 and a debt-to-equity ratio of 0.62. MGE Energy, Inc. has a one year low of $65.10 and a one year high of $83.27.

MGE Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be paid a dividend of $0.428 per share. This represents a $1.71 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date is Thursday, November 30th. MGE Energy’s dividend payout ratio is currently 52.13%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on MGEE shares. StockNews.com raised shares of MGE Energy from a “sell” rating to a “hold” rating in a report on Saturday, November 11th. Morgan Stanley increased their price target on MGE Energy from $61.00 to $62.00 and gave the stock an “underweight” rating in a report on Tuesday.

MGE Energy Profile

MGE Energy, Inc, through its subsidiaries, operates as a public utility holding company primarily in Wisconsin. 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; and plans, constructs, operates, maintains, and expands transmission facilities to provide transmission services.