MGE Energy, Inc. (NASDAQ:MGEE) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its position in MGE Energy, Inc. (NASDAQ:MGEE - Free Report) by 7.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 183,893 shares of the utilities provider's stock after selling 14,098 shares during the period. Principal Financial Group Inc. owned approximately 0.51% of MGE Energy worth $16,817,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of MGEE. Bank of Montreal Can increased its holdings in MGE Energy by 1.6% in the 2nd quarter. Bank of Montreal Can now owns 9,149 shares of the utilities provider's stock worth $705,000 after buying an additional 140 shares during the period. Inspire Investing LLC grew its position in MGE Energy by 3.2% during the 2nd quarter. Inspire Investing LLC now owns 4,702 shares of the utilities provider's stock worth $351,000 after purchasing an additional 144 shares during the period. Arizona State Retirement System raised its stake in shares of MGE Energy by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 10,126 shares of the utilities provider's stock valued at $757,000 after buying an additional 187 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings 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 valued at $192,000 after buying an additional 212 shares during the period. Finally, Exchange Traded Concepts LLC boosted its stake in shares of MGE Energy by 1.1% in the third quarter. Exchange Traded Concepts LLC now owns 19,636 shares of the utilities provider's stock worth $1,796,000 after buying an additional 217 shares during the last quarter. 52.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

MGE Energy Price Performance

Shares of NASDAQ:MGEE traded down $0.49 during trading on Friday, reaching $105.21. 33,994 shares of the company's stock traded hands, compared to its average volume of 214,642. The firm has a market cap of $3.81 billion, a PE ratio of 32.32 and a beta of 0.71. MGE Energy, Inc. has a fifty-two week low of $61.94 and a fifty-two week high of $109.22. The company has a 50-day simple moving average of $92.36 and a 200-day simple moving average of $85.07. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be given a $0.45 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.80 annualized dividend and a yield of 1.71%. MGE Energy's payout ratio is 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.