Public Sector Pension Investment Board Lowers Stake in MGE Energy, Inc. (NASDAQ:MGEE)

Public Sector Pension Investment Board lessened its holdings in MGE Energy, Inc. (NASDAQ:MGEE) by 3.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 76,792 shares of the utilities provider’s stock after selling 2,800 shares during the period. Public Sector Pension Investment Board’s holdings in MGE Energy were worth $7,023,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Quest Partners LLC grew its holdings in MGE Energy by 5,088.9% in the second quarter. Quest Partners LLC now owns 467 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 458 shares during the period. Assetmark Inc. acquired a new stake in MGE Energy in the 3rd quarter valued at $35,000. Covestor Ltd increased its holdings in MGE Energy by 37.3% in the 3rd quarter. Covestor Ltd now owns 453 shares of the utilities provider’s stock worth $42,000 after acquiring an additional 123 shares in the last quarter. GAMMA Investing LLC raised its position in MGE Energy by 244.6% during the second quarter. GAMMA Investing LLC now owns 672 shares of the utilities provider’s stock worth $50,000 after acquiring an additional 477 shares during the period. Finally, DekaBank Deutsche Girozentrale purchased a new position in MGE Energy during the second quarter valued at $58,000. Institutional investors and hedge funds own 52.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley boosted their target price on shares of 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 Stock Performance

Shares of NASDAQ:MGEE opened at $104.28 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. MGE Energy, Inc. has a 1 year low of $61.94 and a 1 year high of $109.22. The firm has a market capitalization of $3.78 billion, a PE ratio of 31.89 and a beta of 0.71. The business’s 50 day moving average price is $95.66 and its 200-day moving average price is $86.93.

MGE Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be paid a dividend of $0.45 per share. The ex-dividend date is Friday, November 29th. This represents a $1.80 annualized dividend and a yield of 1.73%. MGE Energy’s dividend payout ratio (DPR) is presently 55.05%.

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.