Assetmark Inc. Invests $35,000 in MGE Energy, Inc. (NASDAQ:MGEE)

Assetmark Inc. purchased a new stake in shares of MGE Energy, Inc. (NASDAQ:MGEE) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 387 shares of the utilities provider’s stock, valued at approximately $35,000.

Other institutional investors have also recently bought and sold shares of the company. Van ECK Associates Corp increased its stake in shares of MGE Energy by 7.3% in the third quarter. Van ECK Associates Corp now owns 10,020 shares of the utilities provider’s stock valued at $916,000 after buying an additional 682 shares in the last quarter. Creative Financial Designs Inc. ADV grew its holdings in MGE Energy by 4.1% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 7,819 shares of the utilities provider’s stock worth $715,000 after acquiring an additional 307 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in MGE Energy by 2.7% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 11,007 shares of the utilities provider’s stock valued at $1,007,000 after acquiring an additional 290 shares in the last quarter. International Assets Investment Management LLC increased its position in MGE Energy by 9,042.4% in the 3rd quarter. International Assets Investment Management LLC now owns 21,759 shares of the utilities provider’s stock valued at $1,990,000 after acquiring an additional 21,521 shares in the last quarter. Finally, Everence Capital Management Inc. raised its stake in shares of MGE Energy by 49.2% in the third quarter. Everence Capital Management Inc. now owns 4,820 shares of the utilities provider’s stock worth $441,000 after acquiring an additional 1,590 shares during the last quarter. Institutional investors own 52.58% of the company’s stock.

MGE Energy Price Performance

MGE Energy stock opened at $104.97 on Tuesday. The business’s 50-day simple moving average is $93.09 and its 200 day simple moving average is $85.52. The company has a quick ratio of 0.94, a current ratio of 1.41 and a debt-to-equity ratio of 0.60. The stock has a market cap of $3.80 billion, a price-to-earnings ratio of 32.10 and a beta of 0.71. MGE Energy, Inc. has a 12-month low of $61.94 and a 12-month high of $109.22.

MGE Energy Announces Dividend

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 paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend is Friday, November 29th. MGE Energy’s dividend payout ratio (DPR) is presently 55.05%.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley raised their price target 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 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.