Great Valley Advisor Group Inc. Raises Stock Position in MGE Energy, Inc. (NASDAQ:MGEE)

Great Valley Advisor Group Inc. boosted its position in shares of MGE Energy, Inc. (NASDAQ:MGEE) by 53.8% in the third quarter, HoldingsChannel reports. The fund owned 18,147 shares of the utilities provider’s stock after purchasing an additional 6,347 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in MGE Energy were worth $1,660,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in MGE Energy in the first quarter worth about $100,000. Vanguard Group Inc. grew its position in MGE Energy by 12.4% during the 1st quarter. Vanguard Group Inc. now owns 4,699,072 shares of the utilities provider’s stock worth $369,911,000 after purchasing an additional 518,466 shares during the last quarter. American International Group Inc. increased its stake in MGE Energy by 8.4% during the 1st 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 in the last quarter. CANADA LIFE ASSURANCE Co purchased a new position in shares of MGE Energy in the first quarter worth $2,187,000. Finally, Advisors Asset Management Inc. acquired a new stake in shares of MGE Energy during the first quarter worth $232,000. Hedge funds and other institutional investors own 52.58% of the company’s stock.

MGE Energy Trading Up 0.0 %

MGE Energy stock opened at $104.14 on Monday. MGE Energy, Inc. has a 52 week low of $61.94 and a 52 week high of $109.22. The stock has a 50-day moving average price of $94.35 and a 200 day moving average price of $86.20. 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 company has a market capitalization of $3.77 billion, a price-to-earnings ratio of 31.85 and a beta of 0.71.

MGE Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend is Friday, November 29th. MGE Energy’s dividend payout ratio (DPR) is currently 55.05%.

Wall Street Analyst Weigh In

Separately, Morgan Stanley upped their target price on 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 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.