MGE Energy, Inc. (NASDAQ:MGEE) Position Lowered by Independent Advisor Alliance

Independent Advisor Alliance trimmed its position in MGE Energy, Inc. (NASDAQ:MGEE) by 6.9% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,253 shares of the utilities provider’s stock after selling 461 shares during the period. Independent Advisor Alliance’s holdings in MGE Energy were worth $572,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MGEE. Dimensional Fund Advisors LP raised its position in shares of MGE Energy by 2.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 783,396 shares of the utilities provider’s stock valued at $58,536,000 after acquiring an additional 20,533 shares in the last quarter. Bank of New York Mellon Corp boosted its position in MGE Energy by 3.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 444,057 shares of the utilities provider’s stock valued at $33,180,000 after purchasing an additional 15,522 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of MGE Energy by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 425,461 shares of the utilities provider’s stock worth $38,908,000 after acquiring an additional 8,629 shares during the last quarter. Public Sector Pension Investment Board grew its position in MGE Energy by 7.4% in the 2nd quarter. Public Sector Pension Investment Board now owns 79,592 shares of the utilities provider’s stock worth $5,947,000 after purchasing an additional 5,472 shares during the last quarter. Finally, Millennium Management LLC grew its stake in shares of MGE Energy by 136.0% in the second quarter. Millennium Management LLC now owns 79,200 shares of the utilities provider’s stock worth $5,918,000 after purchasing an additional 45,647 shares in the last quarter. 52.58% of the stock is owned by institutional investors.

MGE Energy Stock Up 1.4 %

Shares of MGEE stock opened at $104.76 on Thursday. MGE Energy, Inc. has a twelve month low of $61.94 and a twelve month high of $109.22. The company has a market capitalization of $3.79 billion, a price-to-earnings ratio of 32.04 and a beta of 0.71. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.94 and a current ratio of 1.41. The stock’s 50 day simple moving average is $94.85 and its 200 day simple moving average is $86.51.

MGE Energy Dividend Announcement

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

Analyst Ratings Changes

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

MGE Energy Company 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.