3,836 Shares in MGE Energy, Inc. (NASDAQ:MGEE) Acquired by Redmond Asset Management LLC

Redmond Asset Management LLC bought a new position in MGE Energy, Inc. (NASDAQ:MGEE - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 3,836 shares of the utilities provider's stock, valued at approximately $360,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Versant Capital Management Inc boosted its holdings in shares of MGE Energy by 367.1% in the fourth quarter. Versant Capital Management Inc now owns 327 shares of the utilities provider's stock worth $31,000 after buying an additional 257 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of MGE Energy by 88.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 357 shares of the utilities provider's stock worth $34,000 after acquiring an additional 168 shares during the last quarter. Assetmark Inc. bought a new stake in shares of MGE Energy during the 3rd quarter valued at $35,000. Covestor Ltd grew its position in shares of MGE Energy by 37.3% during the 3rd quarter. Covestor Ltd now owns 453 shares of the utilities provider's stock valued at $42,000 after acquiring an additional 123 shares during the period. Finally, KBC Group NV increased its stake in shares of MGE Energy by 32.2% in the 4th quarter. KBC Group NV now owns 1,478 shares of the utilities provider's stock worth $139,000 after purchasing an additional 360 shares in the last quarter. 52.58% of the stock is owned by institutional investors.

MGE Energy Stock Performance

MGE Energy stock traded up $1.05 during midday trading on Tuesday, hitting $94.05. The stock had a trading volume of 8,614 shares, compared to its average volume of 172,005. MGE Energy, Inc. has a 52-week low of $61.94 and a 52-week high of $109.22. The company has a market capitalization of $3.41 billion, a PE ratio of 28.82 and a beta of 0.76. The firm's fifty day moving average is $91.43 and its two-hundred day moving average is $92.74. The company has a current ratio of 1.41, a quick ratio of 0.94 and a debt-to-equity ratio of 0.60.

MGE Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be paid a $0.45 dividend. The ex-dividend date is Friday, February 28th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.91%. MGE Energy's dividend payout ratio (DPR) is presently 55.05%.

Wall Street Analysts Forecast Growth

Separately, LADENBURG THALM/SH SH upgraded 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.