Kingsview Wealth Management LLC Cuts Position in MGE Energy, Inc. (NASDAQ:MGEE)

Kingsview Wealth Management LLC decreased its holdings in MGE Energy, Inc. (NASDAQ:MGEE) by 9.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 25,330 shares of the utilities provider’s stock after selling 2,658 shares during the period. Kingsview Wealth Management LLC owned approximately 0.07% of MGE Energy worth $2,316,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Comerica Bank raised its holdings in MGE Energy by 11,187.2% in the first quarter. Comerica Bank now owns 15,012 shares of the utilities provider’s stock valued at $1,182,000 after buying an additional 14,879 shares during the period. CANADA LIFE ASSURANCE Co purchased a new stake in shares of MGE Energy during the first quarter valued at approximately $2,187,000. Teachers Retirement System of The State of Kentucky purchased a new stake in shares of MGE Energy during the first quarter valued at approximately $490,000. Royce & Associates LP raised its stake in shares of MGE Energy by 155.4% during the third quarter. Royce & Associates LP now owns 11,668 shares of the utilities provider’s stock valued at $1,067,000 after purchasing an additional 7,099 shares during the period. Finally, Susquehanna Fundamental Investments LLC raised its stake in shares of MGE Energy by 56.1% during the second quarter. Susquehanna Fundamental Investments LLC now owns 50,987 shares of the utilities provider’s stock valued at $3,810,000 after purchasing an additional 18,315 shares during the period. Hedge funds and other institutional investors own 52.58% of the company’s stock.

Analyst Ratings Changes

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

MGE Energy Trading Up 0.6 %

MGEE opened at $104.75 on Tuesday. The firm has a market capitalization of $3.79 billion, a P/E ratio of 32.03 and a beta of 0.71. The firm’s 50 day moving average is $94.35 and its 200-day moving average is $86.20. MGE Energy, Inc. has a 52-week low of $61.94 and a 52-week high of $109.22. The company has a quick ratio of 0.94, a current ratio of 1.41 and a debt-to-equity ratio of 0.60.

MGE Energy Dividend Announcement

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