Crossmark Global Holdings Inc. Invests $290,000 in MGE Energy, Inc. (NASDAQ:MGEE)

Crossmark Global Holdings Inc. bought a new stake in MGE Energy, Inc. (NASDAQ:MGEE) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,178 shares of the utilities provider’s stock, valued at approximately $290,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Comerica Bank raised its stake in shares of MGE Energy by 11,187.2% during the 1st quarter. Comerica Bank now owns 15,012 shares of the utilities provider’s stock worth $1,182,000 after purchasing an additional 14,879 shares in the last quarter. Edgestream Partners L.P. bought a new stake in MGE Energy during the first quarter worth $1,178,000. CANADA LIFE ASSURANCE Co acquired a new stake in MGE Energy in the first quarter valued at $2,187,000. Teachers Retirement System of The State of Kentucky bought a new position in shares of MGE Energy in the 1st quarter valued at about $490,000. Finally, Susquehanna Fundamental Investments LLC increased its stake in shares of MGE Energy by 56.1% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 50,987 shares of the utilities provider’s stock worth $3,810,000 after purchasing an additional 18,315 shares during the last quarter. Institutional investors own 52.58% of the company’s stock.

Analyst Ratings Changes

Separately, Morgan Stanley upped their price objective on MGE Energy from $71.00 to $74.00 and gave the company an “underweight” rating in a research note on Wednesday, September 25th.

MGE Energy Stock Down 0.8 %

MGEE opened at $104.86 on Monday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.94 and a current ratio of 1.41. The stock has a fifty day moving average of $92.73 and a 200-day moving average of $85.34. 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 market capitalization of $3.80 billion, a P/E ratio of 32.07 and a beta of 0.71.

MGE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be issued 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 1.72%. MGE Energy’s dividend payout ratio is presently 55.05%.

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.