Citigroup Inc. Increases Stock Position in MGE Energy, Inc. (NASDAQ:MGEE)

Citigroup Inc. boosted its stake in MGE Energy, Inc. (NASDAQ:MGEE) by 62.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 44,040 shares of the utilities provider’s stock after acquiring an additional 16,927 shares during the period. Citigroup Inc. owned about 0.12% of MGE Energy worth $4,027,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in MGE Energy by 2.7% in the second quarter. Dimensional Fund Advisors LP now owns 783,396 shares of the utilities provider’s stock valued at $58,536,000 after purchasing an additional 20,533 shares during the period. Bank of New York Mellon Corp increased its stake 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 worth $33,180,000 after acquiring an additional 15,522 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of MGE Energy by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 425,461 shares of the utilities provider’s stock worth $38,908,000 after acquiring an additional 8,629 shares during the period. Public Sector Pension Investment Board increased its stake in shares of MGE Energy by 7.4% during the second 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 period. Finally, Millennium Management LLC increased its stake in shares of MGE Energy by 136.0% during the second 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. 52.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

MGE Energy Trading Down 0.8 %

Shares of MGEE opened at $104.07 on Wednesday. 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 firm’s 50-day moving average is $95.91 and its two-hundred day moving average is $87.18. MGE Energy, Inc. has a twelve month low of $61.94 and a twelve month high of $109.22. The firm has a market capitalization of $3.77 billion, a P/E ratio of 31.83 and a beta of 0.74.

MGE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders 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 yield of 1.73%. MGE Energy’s payout ratio is currently 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.