Charles Schwab Investment Management Inc. Increases Stake in MGE Energy, Inc. (NASDAQ:MGEE)

Charles Schwab Investment Management Inc. increased its position in MGE Energy, Inc. (NASDAQ:MGEE - Free Report) by 2.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 425,461 shares of the utilities provider's stock after acquiring an additional 8,629 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.18% of MGE Energy worth $38,908,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Comerica Bank increased its stake in MGE Energy by 11,187.2% in 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 during the period. Teachers Retirement System of The State of Kentucky purchased a new position in MGE Energy in the 1st quarter worth approximately $490,000. Royce & Associates LP increased its stake in MGE Energy by 155.4% in the 3rd quarter. Royce & Associates LP now owns 11,668 shares of the utilities provider's stock worth $1,067,000 after purchasing an additional 7,099 shares during the period. Susquehanna Fundamental Investments LLC increased its stake in MGE Energy by 56.1% in 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 period. Finally, GSA Capital Partners LLP purchased a new position in shares of MGE Energy during the third quarter valued at approximately $584,000. Institutional investors own 52.58% of the company's stock.

Wall Street Analyst Weigh In

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

MGE Energy Price Performance

MGEE traded down $0.84 during trading hours on Tuesday, hitting $104.07. The company's stock had a trading volume of 835,113 shares, compared to its average volume of 214,326. The business's 50-day moving average price is $95.91 and its 200-day moving average price is $87.18. MGE Energy, Inc. has a 12 month low of $61.94 and a 12 month high of $109.22. The stock has a market cap of $3.77 billion, a price-to-earnings ratio of 31.83 and a beta of 0.74. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend is Friday, November 29th. MGE Energy's dividend payout ratio (DPR) is 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.