Hotchkis & Wiley Capital Management LLC Invests $11.77 Million in MGE Energy, Inc. (NASDAQ:MGEE)

Hotchkis & Wiley Capital Management LLC bought a new position in MGE Energy, Inc. (NASDAQ:MGEE - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 128,650 shares of the utilities provider's stock, valued at approximately $11,765,000. Hotchkis & Wiley Capital Management LLC owned 0.36% of MGE Energy as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of MGEE. Price T Rowe Associates Inc. MD grew its stake in MGE Energy by 7.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 52,078 shares of the utilities provider's stock worth $4,100,000 after acquiring an additional 3,489 shares in the last quarter. Comerica Bank raised its holdings in shares of MGE Energy by 11,187.2% during the first 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 last quarter. Cetera Investment Advisers raised its holdings in shares of MGE Energy by 360.1% during the first quarter. Cetera Investment Advisers now owns 29,622 shares of the utilities provider's stock worth $2,332,000 after purchasing an additional 23,184 shares during the last quarter. Teachers Retirement System of The State of Kentucky acquired a new stake in MGE Energy during the first quarter valued at $490,000. Finally, GAMMA Investing LLC grew its position in MGE Energy by 244.6% during the second quarter. GAMMA Investing LLC now owns 672 shares of the utilities provider's stock valued at $50,000 after buying an additional 477 shares during the period. Hedge funds and other institutional investors own 52.58% of the company's stock.

Wall Street Analysts Forecast Growth

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 research note on Wednesday, September 25th.

MGE Energy Stock Down 1.3 %

Shares of MGE Energy stock traded down $1.33 during trading hours on Wednesday, hitting $102.74. The company had a trading volume of 112,466 shares, compared to its average volume of 213,891. The company's 50-day moving average is $96.40 and its two-hundred day moving average is $87.45. MGE Energy, Inc. has a twelve month low of $61.94 and a twelve month high of $109.22. 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 company has a market cap of $3.72 billion, a P/E ratio of 31.42 and a beta of 0.74.

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. The ex-dividend date is Friday, November 29th. This represents a $1.80 dividend on an annualized basis and a yield of 1.75%. MGE Energy's payout ratio is currently 55.05%.

MGE Energy Profile

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.