Redmond Asset Management LLC Acquires New Holdings in MGE Energy, Inc. (NASDAQ:MGEE)

Redmond Asset Management LLC acquired a new stake in MGE Energy, Inc. (NASDAQ:MGEE) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 3,836 shares of the utilities provider’s stock, valued at approximately $360,000.

A number of other large investors have also added to or reduced their stakes in the business. Versant Capital Management Inc raised its holdings in MGE Energy by 367.1% during the 4th quarter. Versant Capital Management Inc now owns 327 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 257 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of MGE Energy by 88.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 357 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 168 shares in the last quarter. Assetmark Inc. bought a new stake in shares of MGE Energy in the 3rd quarter valued at $35,000. Covestor Ltd increased its stake in shares of 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 in the last quarter. Finally, KBC Group NV increased its stake in shares of MGE Energy by 32.2% in the 4th quarter. KBC Group NV now owns 1,478 shares of the utilities provider’s stock valued at $139,000 after acquiring an additional 360 shares in the last quarter. Institutional investors own 52.58% of the company’s stock.

Analyst Ratings Changes

Separately, LADENBURG THALM/SH SH raised shares of MGE Energy to a “strong sell” rating in a research report on Thursday, December 12th.

MGE Energy Stock Performance

NASDAQ MGEE opened at $92.19 on Friday. 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 cap of $3.34 billion, a P/E ratio of 28.19 and a beta of 0.76. The company has a fifty day simple moving average of $91.50 and a 200 day simple moving average of $92.63. MGE Energy, Inc. has a 12-month low of $61.94 and a 12-month high of $109.22.

MGE Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend is Friday, February 28th. MGE Energy’s dividend payout ratio is 55.05%.

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.