Amalgamated Bank Sells 406 Shares of MGE Energy, Inc. (NASDAQ:MGEE)

Amalgamated Bank reduced its stake in MGE Energy, Inc. (NASDAQ:MGEE) by 3.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,659 shares of the utilities provider’s stock after selling 406 shares during the period. Amalgamated Bank’s holdings in MGE Energy were worth $975,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Quest Partners LLC increased its position 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 purchasing an additional 458 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of MGE Energy by 244.6% in the second quarter. GAMMA Investing LLC now owns 672 shares of the utilities provider’s stock valued at $50,000 after acquiring an additional 477 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of MGE Energy in the 2nd quarter worth approximately $58,000. Covestor Ltd boosted its holdings in shares of MGE Energy by 43.3% in the 1st quarter. Covestor Ltd now owns 794 shares of the utilities provider’s stock worth $63,000 after acquiring an additional 240 shares in the last quarter. Finally, nVerses Capital LLC bought a new stake in MGE Energy during the 2nd quarter worth approximately $75,000. 52.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley boosted their price objective on 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 Price Performance

MGEE opened at $105.70 on Friday. 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’s 50 day simple moving average is $92.36 and its 200-day simple moving average is $85.07. MGE Energy, Inc. has a one year low of $61.94 and a one year high of $109.22. The stock has a market capitalization of $3.83 billion, a P/E ratio of 32.32 and a beta of 0.71.

MGE Energy Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 1.70%. 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.