Allspring Global Investments Holdings LLC Acquires 5,651 Shares of MGE Energy, Inc. (NASDAQ:MGEE)

Allspring Global Investments Holdings LLC lifted its position in shares of MGE Energy, Inc. (NASDAQ:MGEE - Free Report) by 62,788.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,660 shares of the utilities provider's stock after acquiring an additional 5,651 shares during the period. Allspring Global Investments Holdings LLC's holdings in MGE Energy were worth $532,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MGEE. Merit Financial Group LLC increased its holdings in MGE Energy by 1.7% in the 4th quarter. Merit Financial Group LLC now owns 7,079 shares of the utilities provider's stock valued at $665,000 after acquiring an additional 116 shares during the last quarter. Covestor Ltd boosted its position in MGE Energy by 37.3% in the 3rd quarter. Covestor Ltd now owns 453 shares of the utilities provider's stock valued at $42,000 after buying an additional 123 shares during the period. Savant Capital LLC boosted its position in MGE Energy by 2.9% in the 4th quarter. Savant Capital LLC now owns 4,922 shares of the utilities provider's stock valued at $462,000 after buying an additional 139 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of MGE Energy by 88.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 357 shares of the utilities provider's stock worth $34,000 after purchasing an additional 168 shares during the period. Finally, Choreo LLC lifted its position in shares of MGE Energy by 10.8% in the 4th quarter. Choreo LLC now owns 2,526 shares of the utilities provider's stock worth $238,000 after purchasing an additional 247 shares during the period. Hedge funds and other institutional investors own 52.58% of the company's stock.

Analyst Upgrades and Downgrades

Separately, LADENBURG THALM/SH SH upgraded shares of MGE Energy to a "strong sell" rating in a research note on Thursday, December 12th.

MGE Energy Trading Up 0.9 %

Shares of MGE Energy stock opened at $93.00 on Tuesday. The company has a current ratio of 1.41, a quick ratio of 0.94 and a debt-to-equity ratio of 0.60. MGE Energy, Inc. has a 12-month low of $61.94 and a 12-month high of $109.22. The firm has a market capitalization of $3.37 billion, a price-to-earnings ratio of 28.44 and a beta of 0.76. The firm's 50 day simple moving average is $91.43 and its two-hundred day simple moving average is $92.74.

MGE Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.94%. The ex-dividend date is Friday, February 28th. MGE Energy's dividend payout ratio (DPR) is currently 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.

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