Geode Capital Management LLC Acquires 5,796 Shares of MGE Energy, Inc. (NASDAQ:MGEE)

Geode Capital Management LLC raised its holdings in MGE Energy, Inc. (NASDAQ:MGEE - Free Report) by 0.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 863,707 shares of the utilities provider's stock after purchasing an additional 5,796 shares during the quarter. Geode Capital Management LLC owned approximately 2.39% of MGE Energy worth $79,001,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of MGEE. SG Americas Securities LLC raised its stake in shares of MGE Energy by 219.0% in the second quarter. SG Americas Securities LLC now owns 4,064 shares of the utilities provider's stock worth $304,000 after acquiring an additional 2,790 shares during the last quarter. Nisa Investment Advisors LLC raised its position in MGE Energy by 9.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,566 shares of the utilities provider's stock worth $192,000 after purchasing an additional 212 shares during the last quarter. Louisiana State Employees Retirement System raised its position in MGE Energy by 1.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 18,200 shares of the utilities provider's stock worth $1,360,000 after purchasing an additional 300 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in MGE Energy by 3.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 444,057 shares of the utilities provider's stock worth $33,180,000 after buying an additional 15,522 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in MGE Energy by 5.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,508 shares of the utilities provider's stock valued at $561,000 after buying an additional 365 shares during the last quarter. Institutional investors and hedge funds own 52.58% of the company's stock.

MGE Energy Stock Up 0.6 %

Shares of NASDAQ MGEE traded up $0.52 during mid-day trading on Friday, reaching $94.46. 345,524 shares of the company's stock were exchanged, compared to its average volume of 212,059. The company has a current ratio of 1.41, a quick ratio of 0.94 and a debt-to-equity ratio of 0.60. The business has a fifty day simple moving average of $98.10 and a 200 day simple moving average of $88.92. MGE Energy, Inc. has a twelve month low of $61.94 and a twelve month high of $109.22. The firm has a market capitalization of $3.42 billion, a price-to-earnings ratio of 28.89 and a beta of 0.74.

MGE Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date was Friday, November 29th. MGE Energy's payout ratio is currently 55.05%.

Wall Street Analyst Weigh In

MGEE has been the subject of a number of recent research reports. LADENBURG THALM/SH SH upgraded MGE Energy to a "strong sell" rating in a research report on Thursday, December 12th. Morgan Stanley lifted their price objective 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.