UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 6,610 Shares of MGE Energy, Inc. (NASDAQ:MGEE)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its holdings in MGE Energy, Inc. (NASDAQ:MGEE - Free Report) by 8.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 72,326 shares of the utilities provider's stock after selling 6,610 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.20% of MGE Energy worth $6,614,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of MGEE. Millennium Management LLC raised its position in MGE Energy by 136.0% during the second quarter. Millennium Management LLC now owns 79,200 shares of the utilities provider's stock valued at $5,918,000 after acquiring an additional 45,647 shares in the last quarter. Squarepoint Ops LLC bought a new position in shares of MGE Energy during the 2nd quarter valued at $1,671,000. International Assets Investment Management LLC lifted its stake in shares of MGE Energy by 9,042.4% in the 3rd quarter. International Assets Investment Management LLC now owns 21,759 shares of the utilities provider's stock valued at $1,990,000 after purchasing an additional 21,521 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in MGE Energy by 2.7% in the second quarter. Dimensional Fund Advisors LP now owns 783,396 shares of the utilities provider's stock worth $58,536,000 after purchasing an additional 20,533 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC increased its position in MGE Energy by 56.1% during the second quarter. Susquehanna Fundamental Investments LLC now owns 50,987 shares of the utilities provider's stock worth $3,810,000 after buying an additional 18,315 shares during the last quarter. Hedge funds and other institutional investors own 52.58% of the company's stock.

MGE Energy Price Performance

Shares of MGE Energy stock traded up $1.81 during midday trading on Wednesday, hitting $101.28. 233,389 shares of the company were exchanged, compared to its average volume of 212,715. The firm has a 50 day simple moving average of $97.12 and a 200-day simple moving average of $88.06. MGE Energy, Inc. has a 52 week low of $61.94 and a 52 week high of $109.22. The firm has a market cap of $3.67 billion, a P/E ratio of 30.42 and a beta of 0.74. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.41 and a quick ratio of 0.94.

MGE Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Friday, November 29th. MGE Energy's dividend payout ratio is currently 55.05%.

Wall Street Analysts Forecast Growth

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

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.