MGE Energy, Inc. (NASDAQ:MGEE) Shares Sold by Fmr LLC

Fmr LLC lowered its stake in shares of MGE Energy, Inc. (NASDAQ:MGEE) by 18.9% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 2,383 shares of the utilities provider’s stock after selling 555 shares during the period. Fmr LLC’s holdings in MGE Energy were worth $218,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Covestor Ltd boosted its position in shares of MGE Energy by 37.3% during the third quarter. Covestor Ltd now owns 453 shares of the utilities provider’s stock worth $42,000 after buying an additional 123 shares during the period. Bank of Montreal Can lifted its stake in MGE Energy by 1.6% during the 2nd quarter. Bank of Montreal Can now owns 9,149 shares of the utilities provider’s stock worth $705,000 after acquiring an additional 140 shares in the last quarter. Inspire Investing LLC boosted its holdings in MGE Energy by 3.2% during the 2nd quarter. Inspire Investing LLC now owns 4,702 shares of the utilities provider’s stock valued at $351,000 after acquiring an additional 144 shares during the period. Arizona State Retirement System grew its position in MGE Energy by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 10,126 shares of the utilities provider’s stock valued at $757,000 after acquiring an additional 187 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in MGE Energy by 9.0% during the second quarter. Nisa Investment Advisors LLC now owns 2,566 shares of the utilities provider’s stock worth $192,000 after purchasing an additional 212 shares during the period. Institutional investors and hedge funds own 52.58% of the company’s stock.

MGE Energy Price Performance

Shares of NASDAQ MGEE opened at $94.46 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 has a market cap of $3.42 billion, a price-to-earnings ratio of 28.89 and a beta of 0.74. The stock’s 50-day moving average is $98.10 and its two-hundred day moving average is $88.92. MGE Energy, Inc. has a 1-year low of $61.94 and a 1-year high of $109.22.

MGE Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, December 15th. Investors of record on Sunday, December 1st were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.91%. MGE Energy’s payout ratio is 55.05%.

Wall Street Analyst Weigh In

Several research firms have recently commented on MGEE. Morgan Stanley raised their price objective on shares of MGE Energy from $71.00 to $74.00 and gave the company an “underweight” rating in a research note on Wednesday, September 25th. LADENBURG THALM/SH SH upgraded shares of MGE Energy to a “strong sell” rating in a report on Thursday, December 12th.

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.