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

Geode Capital Management LLC lifted its position in shares of MGE Energy, Inc. (NASDAQ:MGEE - Free Report) by 0.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 863,707 shares of the utilities provider's stock after purchasing an additional 5,796 shares during the period. Geode Capital Management LLC owned 2.39% of MGE Energy worth $79,001,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. SG Americas Securities LLC raised its holdings in MGE Energy by 219.0% in the 2nd quarter. SG Americas Securities LLC now owns 4,064 shares of the utilities provider's stock worth $304,000 after purchasing an additional 2,790 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in shares of 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 acquiring an additional 212 shares in the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of MGE Energy by 1.7% during the second quarter. Louisiana State Employees Retirement System now owns 18,200 shares of the utilities provider's stock valued at $1,360,000 after purchasing an additional 300 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of MGE Energy by 3.6% during the second quarter. Bank of New York Mellon Corp now owns 444,057 shares of the utilities provider's stock valued at $33,180,000 after acquiring an additional 15,522 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake 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 worth $561,000 after purchasing an additional 365 shares in the last quarter. 52.58% of the stock is owned by institutional investors.

MGE Energy Stock Performance

Shares of MGEE traded up $0.52 during trading hours on Friday, hitting $94.46. The stock had a trading volume of 345,524 shares, compared to its average volume of 212,059. MGE Energy, Inc. has a 12 month low of $61.94 and a 12 month high of $109.22. The stock has a fifty day moving average price of $98.03 and a 200 day moving average price of $88.82. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.41 and a quick ratio of 0.94. The firm has a market capitalization of $3.42 billion, a PE ratio of 28.89 and a beta of 0.74.

MGE Energy Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on MGEE shares. Morgan Stanley raised their price target on shares of MGE Energy from $71.00 to $74.00 and gave the company an "underweight" rating in a research report on Wednesday, September 25th. LADENBURG THALM/SH SH raised MGE Energy to a "strong sell" rating in a research report on Thursday, December 12th.

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.