Citigroup Inc. Acquires 16,927 Shares of MGE Energy, Inc. (NASDAQ:MGEE)

Citigroup Inc. increased its holdings in MGE Energy, Inc. (NASDAQ:MGEE - Free Report) by 62.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 44,040 shares of the utilities provider's stock after purchasing an additional 16,927 shares during the quarter. Citigroup Inc. owned 0.12% of MGE Energy worth $4,027,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in MGEE. Quest Partners LLC raised its position in MGE Energy by 5,088.9% in the 2nd quarter. Quest Partners LLC now owns 467 shares of the utilities provider's stock worth $35,000 after purchasing an additional 458 shares during the period. Assetmark Inc. bought a new stake in MGE Energy in the 3rd quarter worth $35,000. Covestor Ltd grew its holdings 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 acquiring an additional 123 shares during the last quarter. GAMMA Investing LLC grew its holdings in MGE Energy by 244.6% in the 2nd quarter. GAMMA Investing LLC now owns 672 shares of the utilities provider's stock worth $50,000 after acquiring an additional 477 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new stake in MGE Energy in the 2nd quarter worth $58,000. Hedge funds and other institutional investors own 52.58% of the company's stock.

MGE Energy Trading Down 1.3 %

Shares of MGEE traded down $1.33 during trading hours on Wednesday, reaching $102.74. 112,466 shares of the company traded hands, compared to its average volume of 213,891. The company's fifty day moving average price is $96.16 and its two-hundred day moving average price is $87.34. The company has a market capitalization of $3.72 billion, a price-to-earnings ratio of 31.83 and a beta of 0.74. The company has a quick ratio of 0.94, a current ratio of 1.41 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.

MGE Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend is Friday, November 29th. MGE Energy's payout ratio is currently 55.05%.

Wall Street Analyst Weigh In

Separately, Morgan Stanley raised their price target on shares of MGE Energy from $71.00 to $74.00 and gave the stock an "underweight" rating in a 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.