19,798 Shares in MGE Energy, Inc. (NASDAQ:MGEE) Acquired by Edgestream Partners L.P.

Edgestream Partners L.P. purchased a new stake in shares of MGE Energy, Inc. (NASDAQ:MGEE) in the second quarter, Holdings Channel.com reports. The fund purchased 19,798 shares of the utilities provider’s stock, valued at approximately $1,566,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MGEE. Bank of New York Mellon Corp increased its holdings in MGE Energy by 1.5% during the 1st quarter. Bank of New York Mellon Corp now owns 339,549 shares of the utilities provider’s stock valued at $27,093,000 after purchasing an additional 5,115 shares in the last quarter. Bank of Montreal Can acquired a new stake in shares of MGE Energy during the first quarter worth $833,000. MetLife Investment Management LLC grew its stake in shares of MGE Energy by 44.4% during the first quarter. MetLife Investment Management LLC now owns 18,484 shares of the utilities provider’s stock worth $1,475,000 after purchasing an additional 5,687 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of MGE Energy by 1.7% during the first quarter. Dimensional Fund Advisors LP now owns 744,846 shares of the utilities provider’s stock worth $59,431,000 after purchasing an additional 12,427 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of MGE Energy by 0.5% during the first quarter. Vanguard Group Inc. now owns 3,910,789 shares of the utilities provider’s stock worth $312,042,000 after purchasing an additional 19,371 shares during the period. 54.08% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director James G. Berbee purchased 434 shares of MGE Energy stock in a transaction that occurred on Friday, August 25th. The stock was purchased at an average cost of $74.84 per share, with a total value of $32,480.56. Following the completion of the transaction, the director now owns 8,291 shares of the company’s stock, valued at approximately $620,498.44. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.23% of the company’s stock.

MGE Energy Stock Performance

Shares of MGE Energy stock opened at $73.49 on Tuesday. The firm has a market cap of $2.66 billion, a price-to-earnings ratio of 22.41, a price-to-earnings-growth ratio of 4.09 and a beta of 0.76. The stock’s 50-day moving average is $71.90 and its 200-day moving average is $74.95. MGE Energy, Inc. has a one year low of $65.10 and a one year high of $83.27. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.76 and a quick ratio of 1.17.

MGE Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be issued a $0.428 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.71 dividend on an annualized basis and a dividend yield of 2.33%. MGE Energy’s dividend payout ratio (DPR) is 52.13%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on MGEE shares. Morgan Stanley decreased their price objective on MGE Energy from $65.00 to $61.00 and set an “underweight” rating for the company in a research note on Wednesday, October 25th. StockNews.com upgraded MGE Energy from a “sell” rating to a “hold” rating in a report on Saturday, November 11th.

About MGE Energy

MGE Energy, Inc, through its subsidiaries, operates as a public utility holding company primarily in Wisconsin. 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; and plans, constructs, operates, maintains, and expands transmission facilities to provide transmission services.