Royce & Associates LP Increases Position in MGE Energy, Inc. (NASDAQ:MGEE)

Royce & Associates LP lifted its holdings in MGE Energy, Inc. (NASDAQ:MGEE) by 155.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,668 shares of the utilities provider’s stock after buying an additional 7,099 shares during the quarter. Royce & Associates LP’s holdings in MGE Energy were worth $1,067,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in MGE Energy by 12.4% in the first quarter. Vanguard Group Inc. now owns 4,699,072 shares of the utilities provider’s stock worth $369,911,000 after purchasing an additional 518,466 shares during the period. Millennium Management LLC increased its stake in MGE Energy by 136.0% in the 2nd quarter. Millennium Management LLC now owns 79,200 shares of the utilities provider’s stock worth $5,918,000 after buying an additional 45,647 shares during the period. CANADA LIFE ASSURANCE Co purchased a new position in MGE Energy in the 1st quarter worth about $2,187,000. Cetera Investment Advisers lifted its holdings in MGE Energy by 360.1% during the 1st quarter. Cetera Investment Advisers now owns 29,622 shares of the utilities provider’s stock valued at $2,332,000 after buying an additional 23,184 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in MGE Energy in the 2nd quarter valued at about $1,671,000. 52.58% of the stock is owned by institutional investors.

MGE Energy Price Performance

Shares of MGEE stock opened at $104.53 on Wednesday. MGE Energy, Inc. has a twelve month low of $61.94 and a twelve month high of $109.22. 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 stock has a fifty day simple moving average of $93.43 and a two-hundred day simple moving average of $85.69. The stock has a market capitalization of $3.79 billion, a price-to-earnings ratio of 31.97 and a beta of 0.71.

MGE Energy Announces Dividend

The firm also recently disclosed 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. This represents a $1.80 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend is Friday, November 29th. MGE Energy’s dividend payout ratio (DPR) is presently 55.05%.

Analyst Ratings Changes

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

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.