Martingale Asset Management L P Acquires 4,812 Shares of MGE Energy, Inc. (NASDAQ:MGEE)

Martingale Asset Management L P lifted its position in MGE Energy, Inc. (NASDAQ:MGEE) by 67.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,912 shares of the utilities provider’s stock after purchasing an additional 4,812 shares during the quarter. Martingale Asset Management L P’s holdings in MGE Energy were worth $1,089,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of MGEE. Price T Rowe Associates Inc. MD raised its stake in shares of 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 valued at $4,100,000 after purchasing 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 valued at $1,182,000 after purchasing an additional 14,879 shares in 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 valued at $2,332,000 after purchasing an additional 23,184 shares in the last quarter. Teachers Retirement System of The State of Kentucky acquired a new position in shares of MGE Energy in the first quarter valued at $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 valued at $50,000 after purchasing an additional 477 shares in the last quarter. 52.58% of the stock is currently owned by institutional investors and hedge funds.

MGE Energy Stock Performance

MGE Energy stock opened at $104.28 on Monday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.41 and a quick ratio of 0.94. The stock has a fifty day moving average price of $95.66 and a two-hundred day moving average price of $86.96. MGE Energy, Inc. has a 52-week low of $61.94 and a 52-week high of $109.22. The firm has a market capitalization of $3.78 billion, a P/E ratio of 31.89 and a beta of 0.71.

MGE Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be paid a dividend of $0.45 per share. The ex-dividend date is Friday, November 29th. This represents a $1.80 annualized dividend and a yield of 1.73%. MGE Energy’s dividend payout ratio is currently 55.05%.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley upped their target price on 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 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.