Assenagon Asset Management S.A. purchased a new stake in MGE Energy, Inc. (NASDAQ:MGEE) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 21,842 shares of the utilities provider’s stock, valued at approximately $1,395,000. Assenagon Asset Management S.A. owned about 0.06% of MGE Energy as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in MGEE. BlackRock Inc. raised its holdings in shares of MGE Energy by 5.2% in the second quarter. BlackRock Inc. now owns 2,354,371 shares of the utilities provider’s stock valued at $148,442,000 after buying an additional 117,069 shares during the last quarter. Victory Capital Management Inc. increased its position in MGE Energy by 5.6% in the second quarter. Victory Capital Management Inc. now owns 656,697 shares of the utilities provider’s stock worth $41,405,000 after purchasing an additional 34,689 shares during the period. Wells Fargo & Company MN increased its position in MGE Energy by 16.2% in the second quarter. Wells Fargo & Company MN now owns 207,988 shares of the utilities provider’s stock worth $13,113,000 after purchasing an additional 29,022 shares during the period. Citadel Advisors LLC acquired a new stake in MGE Energy in the second quarter worth about $1,616,000. Finally, GSA Capital Partners LLP increased its position in MGE Energy by 252.0% in the second quarter. GSA Capital Partners LLP now owns 26,915 shares of the utilities provider’s stock worth $1,697,000 after purchasing an additional 19,268 shares during the period. 40.23% of the stock is owned by institutional investors and hedge funds.
Shares of MGEE stock opened at $62.87 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.05 and a quick ratio of 1.69. The stock has a market capitalization of $2.13 billion, a P/E ratio of 25.54 and a beta of 0.20. MGE Energy, Inc. has a 12 month low of $51.05 and a 12 month high of $68.05.
MGE Energy (NASDAQ:MGEE) last announced its quarterly earnings data on Tuesday, November 6th. The utilities provider reported $0.85 EPS for the quarter. The firm had revenue of $137.80 million during the quarter. MGE Energy had a return on equity of 10.62% and a net margin of 18.57%.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, December 15th. Investors of record on Saturday, December 1st will be given a $0.3375 dividend. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $1.35 dividend on an annualized basis and a yield of 2.15%.
Separately, BidaskClub lowered MGE Energy from a “buy” rating to a “hold” rating in a research report on Thursday, July 26th.
MGE Energy Company Profile
MGE Energy, Inc, through its subsidiaries, operates as a public utility holding company primarily in Wisconsin. It operates through five segments: Regulated Electric Utility Operations; Regulated Gas Utility Operations; Nonregulated Energy Operations; Transmission Investments; and All Other. The company generates, purchases, and distributes electricity; owns or leases electric generation facilities located in Wisconsin and Iowa; and plans, constructs, operates, maintains, and expands transmission facilities to provide transmission services.
See Also: How to Invest in Marijuana Stocks
Receive News & Ratings for MGE Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MGE Energy and related companies with MarketBeat.com's FREE daily email newsletter.