Advisors Asset Management Inc. Acquires 3,445 Shares of MGE Energy, Inc. (NASDAQ:MGEE)

Advisors Asset Management Inc. boosted its holdings in MGE Energy, Inc. (NASDAQ:MGEE) by 75.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 8,039 shares of the utilities provider’s stock after purchasing an additional 3,445 shares during the quarter. Advisors Asset Management Inc.’s holdings in MGE Energy were worth $735,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Quest Partners LLC boosted its position in shares of MGE Energy by 5,088.9% during the second quarter. Quest Partners LLC now owns 467 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 458 shares during the last quarter. Assetmark Inc. bought a new stake in MGE Energy in the 3rd quarter valued at $35,000. Covestor Ltd lifted its stake 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 purchasing an additional 123 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of MGE Energy by 244.6% during the 2nd quarter. GAMMA Investing LLC now owns 672 shares of the utilities provider’s stock valued at $50,000 after purchasing an additional 477 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of MGE Energy during the second quarter valued at about $58,000. 52.58% of the stock is owned by hedge funds and other institutional investors.

MGE Energy Trading Down 1.3 %

Shares of MGEE opened at $103.34 on Wednesday. The stock has a market capitalization of $3.74 billion, a PE ratio of 31.60 and a beta of 0.71. The company’s fifty day moving average is $94.61 and its 200 day moving average is $86.36. 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, Inc. has a fifty-two week low of $61.94 and a fifty-two week high of $109.22.

MGE Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend is Friday, November 29th. MGE Energy’s payout ratio is 55.05%.

Analyst Ratings Changes

Separately, Morgan Stanley boosted their target price on MGE Energy from $71.00 to $74.00 and gave the stock an “underweight” rating in a research report on Wednesday, September 25th.

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.