MGE Energy, Inc. (NASDAQ:MGEE) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. grew its holdings in shares of MGE Energy, Inc. (NASDAQ:MGEE) by 4.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 191,447 shares of the utilities provider’s stock after purchasing an additional 7,554 shares during the quarter. Principal Financial Group Inc. owned approximately 0.53% of MGE Energy worth $17,988,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Versant Capital Management Inc lifted its stake in shares of MGE Energy by 367.1% in the fourth quarter. Versant Capital Management Inc now owns 327 shares of the utilities provider’s stock worth $31,000 after buying an additional 257 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its stake in 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 worth $34,000 after purchasing an additional 168 shares in the last quarter. Assetmark Inc. acquired a new position in shares of MGE Energy during the 3rd quarter worth approximately $35,000. Covestor Ltd grew its position in shares of MGE Energy by 37.3% in the third quarter. Covestor Ltd now owns 453 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 123 shares in the last quarter. Finally, KBC Group NV increased its holdings in shares of MGE Energy by 32.2% in the fourth quarter. KBC Group NV now owns 1,478 shares of the utilities provider’s stock valued at $139,000 after purchasing an additional 360 shares during the last quarter. Hedge funds and other institutional investors own 52.58% of the company’s stock.

Analysts Set New Price Targets

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

MGE Energy Price Performance

Shares of MGEE stock opened at $93.00 on Tuesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.41 and a quick ratio of 0.94. The company has a market capitalization of $3.37 billion, a PE ratio of 28.44 and a beta of 0.76. The firm’s 50-day moving average is $91.43 and its two-hundred day moving average is $92.74. MGE Energy, Inc. has a 12 month low of $61.94 and a 12 month high of $109.22.

MGE Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend is Friday, February 28th. MGE Energy’s payout ratio is presently 55.05%.

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.