CWS Financial Advisors LLC Makes New $234,000 Investment in MGE Energy, Inc. (NASDAQ:MGEE)

CWS Financial Advisors LLC bought a new position in shares of MGE Energy, Inc. (NASDAQ:MGEE) during the 3rd quarter, HoldingsChannel reports. The firm bought 2,560 shares of the utilities provider’s stock, valued at approximately $234,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Assetmark Inc. bought a new position in MGE Energy during the 3rd quarter worth about $35,000. Covestor Ltd lifted its position in shares of MGE Energy by 37.3% during the third quarter. Covestor Ltd now owns 453 shares of the utilities provider’s stock valued at $42,000 after buying an additional 123 shares during the last quarter. Quest Partners LLC lifted its position in shares of MGE Energy by 5,088.9% during the second quarter. Quest Partners LLC now owns 467 shares of the utilities provider’s stock valued at $35,000 after buying an additional 458 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of MGE Energy by 244.6% during the second quarter. GAMMA Investing LLC now owns 672 shares of the utilities provider’s stock valued at $50,000 after buying an additional 477 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of MGE Energy during the second quarter valued at about $58,000. 52.58% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Morgan Stanley increased their price target on shares of 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 Stock Performance

Shares of MGE Energy stock opened at $104.76 on Friday. The firm has a market capitalization of $3.79 billion, a P/E ratio of 32.04 and a beta of 0.71. 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 50 day moving average price of $95.13 and a 200 day moving average price of $86.64. MGE Energy, Inc. has a 52 week low of $61.94 and a 52 week high of $109.22.

MGE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend is Friday, November 29th. MGE Energy’s payout ratio is currently 55.05%.

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.