MGE Energy, Inc. (NASDAQ:MGEE) Shares Sold by First Business Financial Services Inc.

First Business Financial Services Inc. lessened its stake in shares of MGE Energy, Inc. (NASDAQ:MGEE) by 12.7% during the 3rd quarter, Holdings Channel reports. The firm owned 6,808 shares of the utilities provider’s stock after selling 987 shares during the quarter. First Business Financial Services Inc.’s holdings in MGE Energy were worth $623,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Quest Partners LLC lifted its position in 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 acquiring an additional 458 shares during the period. Assetmark Inc. purchased a new position in shares of MGE Energy in the 3rd quarter valued at about $35,000. Covestor Ltd raised its stake in shares of MGE Energy by 37.3% during the 3rd quarter. Covestor Ltd now owns 453 shares of the utilities provider’s stock worth $42,000 after buying an additional 123 shares during the period. GAMMA Investing LLC raised its position in MGE Energy by 244.6% during the second quarter. GAMMA Investing LLC now owns 672 shares of the utilities provider’s stock worth $50,000 after acquiring an additional 477 shares during the period. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of MGE Energy during the 2nd quarter worth about $58,000. Hedge funds and other institutional investors own 52.58% of the company’s stock.

Analyst Ratings Changes

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

MGE Energy Stock Down 2.3 %

MGEE stock opened at $105.70 on Friday. The company has a market cap of $3.83 billion, a price-to-earnings ratio of 32.32 and a beta of 0.71. The firm has a 50-day moving average of $92.36 and a two-hundred day moving average of $85.07. MGE Energy, Inc. has a 12 month low of $61.94 and a 12 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 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 paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend is Friday, November 29th. MGE Energy’s dividend payout ratio (DPR) is currently 55.05%.

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.