Keybank National Association OH reduced its position in MGE Energy Inc. (NASDAQ:MGEE) by 16.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,500 shares of the utilities provider’s stock after selling 2,400 shares during the quarter. Keybank National Association OH’s holdings in MGE Energy were worth $808,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in MGEE. First Trust Advisors LP boosted its position in shares of MGE Energy by 4,817.6% in the third quarter. First Trust Advisors LP now owns 314,777 shares of the utilities provider’s stock valued at $20,335,000 after acquiring an additional 308,376 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in shares of MGE Energy in the second quarter valued at approximately $3,849,000. Prudential Financial Inc. boosted its position in shares of MGE Energy by 85.7% in the second quarter. Prudential Financial Inc. now owns 97,139 shares of the utilities provider’s stock valued at $6,250,000 after acquiring an additional 44,830 shares during the period. State Street Corp boosted its position in shares of MGE Energy by 5.8% in the second quarter. State Street Corp now owns 777,467 shares of the utilities provider’s stock valued at $50,028,000 after acquiring an additional 42,917 shares during the period. Finally, Shell Asset Management Co. boosted its position in shares of MGE Energy by 159.8% in the third quarter. Shell Asset Management Co. now owns 47,778 shares of the utilities provider’s stock valued at $1,780,000 after acquiring an additional 29,389 shares during the period. Institutional investors own 38.04% of the company’s stock.
Shares of MGE Energy Inc. (MGEE) opened at $64.20 on Thursday. The firm has a market cap of $2,265.58, a P/E ratio of 29.70 and a beta of 0.34. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.02 and a quick ratio of 2.47. MGE Energy Inc. has a one year low of $58.08 and a one year high of $68.70.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be paid a $0.3225 dividend. This represents a $1.29 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Thursday, November 30th. MGE Energy’s dividend payout ratio is currently 58.64%.
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In related news, insider Jeffrey M. Keebler bought 547 shares of the stock in a transaction that occurred on Tuesday, September 5th. The shares were acquired at an average cost of $64.02 per share, with a total value of $35,018.94. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.20% of the company’s stock.
A number of research firms have recently commented on MGEE. BidaskClub lowered shares of MGE Energy from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 17th. Gabelli restated a “hold” rating on shares of MGE Energy in a research report on Monday. Finally, Zacks Investment Research upgraded shares of MGE Energy from a “sell” rating to a “hold” rating in a research report on Thursday, September 7th.
MGE Energy Profile
MGE Energy, Inc (MGE) is a public utility holding company. The Company operates through five segments: Regulated electric utility operations; Regulated gas utility operations; Nonregulated energy operations; Transmission investments, and All other. The Regulated electric utility operations segment is engaged in generating, purchasing and distributing electricity through Madison Gas and Electric Company (MGE).
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