Royce & Associates LP Acquires 7,099 Shares of MGE Energy, Inc. (NASDAQ:MGEE)

Royce & Associates LP lifted its position in MGE Energy, Inc. (NASDAQ:MGEE - Free Report) by 155.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,668 shares of the utilities provider's stock after purchasing an additional 7,099 shares during the quarter. Royce & Associates LP's holdings in MGE Energy were worth $1,067,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in MGEE. Comerica Bank boosted its position in shares of MGE Energy by 11,187.2% during the 1st quarter. Comerica Bank now owns 15,012 shares of the utilities provider's stock valued at $1,182,000 after acquiring an additional 14,879 shares during the last quarter. Edgestream Partners L.P. bought a new position in shares of MGE Energy in the 1st quarter worth $1,178,000. CANADA LIFE ASSURANCE Co purchased a new stake in shares of MGE Energy during the 1st quarter valued at $2,187,000. Teachers Retirement System of The State of Kentucky bought a new stake in shares of MGE Energy during the 1st quarter worth $490,000. Finally, Susquehanna Fundamental Investments LLC grew its position in MGE Energy by 56.1% in the second quarter. Susquehanna Fundamental Investments LLC now owns 50,987 shares of the utilities provider's stock worth $3,810,000 after acquiring an additional 18,315 shares in the last quarter. Institutional investors own 52.58% of the company's stock.

MGE Energy Trading Down 0.7 %

Shares of NASDAQ:MGEE traded down $0.72 during trading on Wednesday, reaching $103.81. 16,498 shares of the company traded hands, compared to its average volume of 213,188. 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, Inc. has a 52-week low of $61.94 and a 52-week high of $109.22. The firm has a market capitalization of $3.76 billion, a price-to-earnings ratio of 31.97 and a beta of 0.71. The business's fifty day moving average is $93.43 and its 200-day moving average is $85.69.

MGE Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend is Friday, November 29th. MGE Energy's dividend payout ratio (DPR) is presently 55.05%.

Wall Street Analyst Weigh In

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

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.