Hotchkis & Wiley Capital Management LLC Makes New Investment in MGE Energy, Inc. (NASDAQ:MGEE)

Hotchkis & Wiley Capital Management LLC purchased a new position in MGE Energy, Inc. (NASDAQ:MGEE) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 128,650 shares of the utilities provider’s stock, valued at approximately $11,765,000. Hotchkis & Wiley Capital Management LLC owned approximately 0.36% of MGE Energy as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also added to or reduced their stakes in MGEE. Price T Rowe Associates Inc. MD boosted its holdings in MGE Energy by 7.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 52,078 shares of the utilities provider’s stock worth $4,100,000 after acquiring an additional 3,489 shares in the last quarter. Comerica Bank raised its stake in shares of MGE Energy by 11,187.2% in the first quarter. Comerica Bank now owns 15,012 shares of the utilities provider’s stock worth $1,182,000 after purchasing an additional 14,879 shares during the last quarter. Cetera Investment Advisers raised its stake in shares of MGE Energy by 360.1% in the first quarter. Cetera Investment Advisers now owns 29,622 shares of the utilities provider’s stock worth $2,332,000 after purchasing an additional 23,184 shares during the last quarter. Teachers Retirement System of The State of Kentucky purchased a new stake in shares of MGE Energy in the first quarter worth approximately $490,000. Finally, GAMMA Investing LLC raised its stake in shares of MGE Energy by 244.6% in the second quarter. GAMMA Investing LLC now owns 672 shares of the utilities provider’s stock worth $50,000 after purchasing an additional 477 shares during the last quarter. Institutional investors own 52.58% of the company’s stock.

MGE Energy Stock Performance

Shares of MGEE opened at $104.07 on Wednesday. The company has a current ratio of 1.41, a quick ratio of 0.94 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 31.83 and a beta of 0.74. The stock has a 50 day moving average of $96.16 and a 200 day moving average of $87.34. MGE Energy, Inc. has a 12 month low of $61.94 and a 12 month high of $109.22.

MGE Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Investors 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 1.73%. The ex-dividend date of this dividend is Friday, November 29th. MGE Energy’s payout ratio is 55.05%.

Analyst Ratings Changes

Separately, Morgan Stanley increased 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.