MGE Energy, Inc. (NASDAQ:MGEE) Shares Bought by Isthmus Partners LLC

Isthmus Partners LLC raised its holdings in MGE Energy, Inc. (NASDAQ:MGEE) by 18.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 2,204 shares of the utilities provider’s stock after acquiring an additional 338 shares during the period. Isthmus Partners LLC’s holdings in MGE Energy were worth $202,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Covestor Ltd raised its holdings in MGE Energy by 37.3% in the 3rd quarter. Covestor Ltd now owns 453 shares of the utilities provider’s stock valued at $42,000 after acquiring an additional 123 shares during the last quarter. Bank of Montreal Can grew its stake in shares of MGE Energy by 1.6% during the 2nd quarter. Bank of Montreal Can now owns 9,149 shares of the utilities provider’s stock valued at $705,000 after buying an additional 140 shares during the period. Inspire Investing LLC grew its stake in shares of MGE Energy by 3.2% during the 2nd quarter. Inspire Investing LLC now owns 4,702 shares of the utilities provider’s stock valued at $351,000 after buying an additional 144 shares during the period. Arizona State Retirement System grew its stake in shares of MGE Energy by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 10,126 shares of the utilities provider’s stock valued at $757,000 after buying an additional 187 shares during the period. Finally, Nisa Investment Advisors LLC grew its stake in shares of MGE Energy by 9.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,566 shares of the utilities provider’s stock valued at $192,000 after buying an additional 212 shares during the period. 52.58% of the stock is currently owned by institutional investors and hedge funds.

MGE Energy Stock Down 0.5 %

Shares of NASDAQ MGEE opened at $104.28 on Friday. MGE Energy, Inc. has a 52-week low of $61.94 and a 52-week high of $109.22. The firm has a fifty day moving average of $95.41 and a 200-day moving average of $86.77. The stock has a market capitalization of $3.78 billion, a PE ratio of 31.89 and a beta of 0.71. 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 disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders 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 dividend yield of 1.73%. MGE Energy’s dividend payout ratio is presently 55.05%.

Analyst Ratings Changes

Separately, Morgan Stanley boosted 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 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.