Assetmark Inc. Purchases New Position in MGE Energy, Inc. (NASDAQ:MGEE)

Assetmark Inc. acquired a new stake in shares of MGE Energy, Inc. (NASDAQ:MGEE) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 387 shares of the utilities provider’s stock, valued at approximately $35,000.

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

MGE Energy Stock Performance

MGEE opened at $104.97 on Tuesday. The company has a market capitalization of $3.80 billion, a price-to-earnings ratio of 32.10 and a beta of 0.71. The business’s 50-day moving average price is $93.09 and its two-hundred day moving average price is $85.52. MGE Energy, Inc. has a 1 year low of $61.94 and a 1 year high of $109.22. 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend is Friday, November 29th. MGE Energy’s dividend payout ratio is presently 55.05%.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley increased their target price on 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 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.