Franklin Resources Inc. Has $438,000 Position in MGE Energy, Inc. (NASDAQ:MGEE)

Franklin Resources Inc. reduced its stake in MGE Energy, Inc. (NASDAQ:MGEE) by 12.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,824 shares of the utilities provider’s stock after selling 663 shares during the period. Franklin Resources Inc.’s holdings in MGE Energy were worth $438,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in MGE Energy by 0.7% during the third quarter. Geode Capital Management LLC now owns 863,707 shares of the utilities provider’s stock worth $79,001,000 after purchasing an additional 5,796 shares during the period. Barclays PLC raised its holdings in MGE Energy by 345.8% during the 3rd quarter. Barclays PLC now owns 62,308 shares of the utilities provider’s stock worth $5,697,000 after purchasing an additional 48,330 shares during the last quarter. State Street Corp lifted its holdings in MGE Energy by 0.5% in the third quarter. State Street Corp now owns 1,460,360 shares of the utilities provider’s stock valued at $133,550,000 after buying an additional 7,294 shares during the period. Hotchkis & Wiley Capital Management LLC acquired a new position in MGE Energy in the third quarter valued at approximately $11,765,000. Finally, CWS Financial Advisors LLC acquired a new stake in MGE Energy in the third quarter worth $234,000. 52.58% of the stock is owned by institutional investors and hedge funds.

MGE Energy Stock Performance

MGE Energy stock opened at $93.96 on Wednesday. The firm’s fifty day moving average price is $98.46 and its 200-day moving average price is $89.96. The stock has a market cap of $3.40 billion, a P/E ratio of 28.73 and a beta of 0.74. MGE Energy, Inc. has a fifty-two week low of $61.94 and a fifty-two week high of $109.22. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.94 and a current ratio of 1.41.

MGE Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.80 annualized dividend and a yield of 1.92%. MGE Energy’s payout ratio is 55.05%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MGEE. Morgan Stanley lifted their price objective 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. LADENBURG THALM/SH SH raised shares of MGE Energy to a “strong sell” rating in a report on Thursday, December 12th.

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.