Principal Financial Group Inc. Decreases Stock Position in MGE Energy, Inc. (NASDAQ:MGEE)

Principal Financial Group Inc. trimmed its position in shares of MGE Energy, Inc. (NASDAQ:MGEE) by 7.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 183,893 shares of the utilities provider’s stock after selling 14,098 shares during the quarter. Principal Financial Group Inc.’s holdings in MGE Energy were worth $16,817,000 at the end of the most recent quarter.

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

MGE Energy Price Performance

MGE Energy stock 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 stock has a market cap of $3.83 billion, a price-to-earnings ratio of 32.32 and a beta of 0.71. The firm has a 50-day moving average of $92.36 and a two-hundred day moving average of $85.07. 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 disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.80 annualized dividend and a yield of 1.70%. MGE Energy’s dividend payout ratio (DPR) is currently 55.05%.

Analyst Ratings Changes

Separately, Morgan Stanley boosted their price objective on 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.