Great Valley Advisor Group Inc. Purchases 6,347 Shares of MGE Energy, Inc. (NASDAQ:MGEE)

Great Valley Advisor Group Inc. increased its position in shares of MGE Energy, Inc. (NASDAQ:MGEE - Free Report) by 53.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,147 shares of the utilities provider's stock after purchasing an additional 6,347 shares during the period. Great Valley Advisor Group Inc. owned 0.05% of MGE Energy worth $1,660,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. SG Americas Securities LLC purchased a new position in MGE Energy in the 1st quarter worth approximately $100,000. Vanguard Group Inc. lifted its holdings in shares of MGE Energy by 12.4% in the first quarter. Vanguard Group Inc. now owns 4,699,072 shares of the utilities provider's stock worth $369,911,000 after buying an additional 518,466 shares in the last quarter. American International Group Inc. boosted its position in shares of MGE Energy by 8.4% during the first quarter. American International Group Inc. now owns 19,673 shares of the utilities provider's stock worth $1,549,000 after acquiring an additional 1,522 shares during the last quarter. CANADA LIFE ASSURANCE Co purchased a new position in MGE Energy during the first quarter valued at $2,187,000. Finally, Advisors Asset Management Inc. bought a new stake in MGE Energy in the 1st quarter valued at $232,000. Hedge funds and other institutional investors own 52.58% of the company's stock.

Wall Street Analyst Weigh In

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

MGE Energy Price Performance

MGE Energy stock traded up $0.61 during mid-day trading on Monday, reaching $104.75. 215,133 shares of the company's stock traded hands, compared to its average volume of 213,104. MGE Energy, Inc. has a 12-month low of $61.94 and a 12-month high of $109.22. The company has a market cap of $3.79 billion, a price-to-earnings ratio of 32.03 and a beta of 0.71. The stock has a 50 day moving average of $94.35 and a two-hundred day moving average of $86.20. 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 Announces Dividend

The business 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. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.80 dividend on an annualized basis and a yield of 1.72%. MGE Energy's dividend payout ratio (DPR) is presently 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.