Raymond James & Associates Purchases New Shares in MGE Energy, Inc. (NASDAQ:MGEE)

Raymond James & Associates bought a new stake in MGE Energy, Inc. (NASDAQ:MGEEFree Report) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 2,946 shares of the utilities provider’s stock, valued at approximately $202,000.

A number of other large investors have also recently made changes to their positions in MGEE. T. Rowe Price Investment Management Inc. grew its position in MGE Energy by 9.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,663,504 shares of the utilities provider’s stock worth $187,511,000 after purchasing an additional 222,061 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in MGE Energy by 9.0% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,314,802 shares of the utilities provider’s stock worth $180,161,000 after purchasing an additional 191,995 shares during the last quarter. State Street Corp grew its position in MGE Energy by 15.7% during the 1st quarter. State Street Corp now owns 983,186 shares of the utilities provider’s stock worth $78,448,000 after purchasing an additional 133,267 shares during the last quarter. JPMorgan Chase & Co. grew its position in MGE Energy by 64.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 290,851 shares of the utilities provider’s stock worth $23,009,000 after purchasing an additional 114,273 shares during the last quarter. Finally, Susquehanna International Group LLP grew its position in MGE Energy by 2,625.3% during the 1st quarter. Susquehanna International Group LLP now owns 118,605 shares of the utilities provider’s stock worth $9,212,000 after purchasing an additional 114,253 shares during the last quarter. 54.08% of the stock is currently owned by hedge funds and other institutional investors.

MGE Energy Stock Up 1.5 %

MGEE stock opened at $64.30 on Thursday. The company has a current ratio of 1.76, a quick ratio of 1.17 and a debt-to-equity ratio of 0.62. The company has a market cap of $2.33 billion, a P/E ratio of 19.60, a P/E/G ratio of 3.16 and a beta of 0.71. The company’s 50-day moving average price is $70.43 and its 200 day moving average price is $72.51. MGE Energy, Inc. has a 52 week low of $62.09 and a 52 week high of $83.27.

MGE Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Friday, March 1st will be given a dividend of $0.428 per share. This represents a $1.71 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date is Thursday, February 29th. MGE Energy’s payout ratio is currently 52.13%.

Analyst Ratings Changes

Several brokerages have recently weighed in on MGEE. TheStreet downgraded shares of MGE Energy from a “b” rating to a “c+” rating in a report on Tuesday, January 30th. StockNews.com raised shares of MGE Energy from a “sell” rating to a “hold” rating in a report on Saturday, November 11th. Finally, Morgan Stanley lifted their target price on shares of MGE Energy from $61.00 to $62.00 and gave the company an “underweight” rating in a report on Tuesday, November 21st.

Read Our Latest Stock Report on MGE Energy

MGE Energy Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for MGE Energy (NASDAQ:MGEE)

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