Intech Investment Management LLC Takes $424,000 Position in MGE Energy, Inc. (NASDAQ:MGEE)

Intech Investment Management LLC purchased a new stake in MGE Energy, Inc. (NASDAQ:MGEE) during the third quarter, according to its most recent filing with the SEC. The firm purchased 4,634 shares of the utilities provider’s stock, valued at approximately $424,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its position in MGE Energy by 2.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 783,396 shares of the utilities provider’s stock valued at $58,536,000 after buying an additional 20,533 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of MGE Energy by 3.6% during the second quarter. Bank of New York Mellon Corp now owns 444,057 shares of the utilities provider’s stock valued at $33,180,000 after buying an additional 15,522 shares during the last quarter. Public Sector Pension Investment Board raised its stake in MGE Energy by 7.4% in the 2nd quarter. Public Sector Pension Investment Board now owns 79,592 shares of the utilities provider’s stock worth $5,947,000 after acquiring an additional 5,472 shares during the last quarter. Millennium Management LLC lifted its position in MGE Energy by 136.0% during the 2nd quarter. Millennium Management LLC now owns 79,200 shares of the utilities provider’s stock worth $5,918,000 after acquiring an additional 45,647 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in MGE Energy by 7.2% during the 1st 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 during the last quarter. 52.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

MGE Energy Trading Up 0.6 %

Shares of MGEE stock opened at $104.91 on Tuesday. MGE Energy, Inc. has a twelve month low of $61.94 and a twelve month high of $109.22. The stock has a market cap of $3.80 billion, a price-to-earnings ratio of 31.84 and a beta of 0.71. The company’s 50-day moving average price is $95.66 and its 200-day moving average price is $87.01. The company has a current ratio of 1.41, a quick ratio of 0.94 and a debt-to-equity ratio of 0.60.

MGE Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be given 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%.

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.