Charles Schwab Investment Management Inc. Acquires 8,629 Shares of MGE Energy, Inc. (NASDAQ:MGEE)

Charles Schwab Investment Management Inc. boosted its stake in shares of MGE Energy, Inc. (NASDAQ:MGEE) by 2.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 425,461 shares of the utilities provider’s stock after purchasing an additional 8,629 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.18% of MGE Energy worth $38,908,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of MGEE. Quest Partners LLC lifted its stake in shares of MGE Energy by 5,088.9% during the 2nd quarter. Quest Partners LLC now owns 467 shares of the utilities provider’s stock worth $35,000 after buying an additional 458 shares during the last quarter. Assetmark Inc. bought a new position in MGE Energy in the 3rd quarter valued at about $35,000. Covestor Ltd lifted its position in MGE Energy by 37.3% during the third quarter. Covestor Ltd now owns 453 shares of the utilities provider’s stock worth $42,000 after acquiring an additional 123 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of MGE Energy by 244.6% during the second quarter. GAMMA Investing LLC now owns 672 shares of the utilities provider’s stock worth $50,000 after acquiring an additional 477 shares during the period. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of MGE Energy in the second quarter valued at approximately $58,000. 52.58% of the stock is currently owned by institutional investors and hedge funds.

MGE Energy Trading Up 0.6 %

MGEE stock opened at $104.91 on Tuesday. MGE Energy, Inc. has a 52 week low of $61.94 and a 52 week high of $109.22. The company has a market capitalization of $3.80 billion, a PE ratio of 32.08 and a beta of 0.71. The company’s 50-day simple moving average is $95.66 and its 200 day simple moving average is $87.01. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.94 and a current ratio of 1.41.

MGE Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.80 annualized dividend and a dividend yield of 1.72%. MGE Energy’s dividend payout ratio is presently 55.05%.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley lifted their price target on MGE Energy from $71.00 to $74.00 and gave the stock an “underweight” rating in a 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.