Shell Asset Management Co. Has $76,000 Stock Holdings in MGE Energy, Inc. (NASDAQ:MGEE)

Shell Asset Management Co. lessened its holdings in MGE Energy, Inc. (NASDAQ:MGEEFree Report) by 85.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,108 shares of the utilities provider’s stock after selling 6,328 shares during the quarter. Shell Asset Management Co.’s holdings in MGE Energy were worth $76,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Captrust Financial Advisors increased its holdings in shares of MGE Energy by 14.7% during the second quarter. Captrust Financial Advisors now owns 913 shares of the utilities provider’s stock worth $71,000 after buying an additional 117 shares in the last quarter. Zebra Capital Management LLC increased its holdings in shares of MGE Energy by 2.2% in the first quarter. Zebra Capital Management LLC now owns 5,914 shares of the utilities provider’s stock valued at $472,000 after purchasing an additional 126 shares in the last quarter. FMR LLC increased its holdings in shares of MGE Energy by 8.2% in the second quarter. FMR LLC now owns 1,676 shares of the utilities provider’s stock valued at $130,000 after purchasing an additional 127 shares in the last quarter. Arizona State Retirement System increased its holdings in shares of MGE Energy by 1.4% in the third quarter. Arizona State Retirement System now owns 10,296 shares of the utilities provider’s stock valued at $705,000 after purchasing an additional 138 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of MGE Energy by 4.1% in the second quarter. Franklin Resources Inc. now owns 3,579 shares of the utilities provider’s stock valued at $283,000 after purchasing an additional 140 shares in the last quarter. Institutional investors and hedge funds own 54.08% of the company’s stock.

MGE Energy Trading Up 1.0 %

Shares of NASDAQ MGEE opened at $66.09 on Tuesday. The company’s fifty day moving average is $69.91 and its 200-day moving average is $72.09. The stock has a market cap of $2.39 billion, a price-to-earnings ratio of 20.15, a P/E/G ratio of 3.32 and a beta of 0.71. MGE Energy, Inc. has a twelve month low of $62.09 and a twelve month high of $83.27. The company has a quick ratio of 1.17, a current ratio of 1.76 and a debt-to-equity ratio of 0.62.

MGE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, March 1st will be issued a dividend of $0.428 per share. The ex-dividend date of this dividend is Thursday, February 29th. This represents a $1.71 dividend on an annualized basis and a dividend yield of 2.59%. MGE Energy’s payout ratio is 52.13%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on MGEE shares. Morgan Stanley raised their price objective on shares of MGE Energy from $61.00 to $62.00 and gave the company an “underweight” rating in a research note on Tuesday, November 21st. TheStreet cut shares of MGE Energy from a “b” rating to a “c+” rating in a research note on Tuesday, January 30th. Finally, StockNews.com cut shares of MGE Energy from a “hold” rating to a “sell” rating in a research report on Friday.

Check Out Our Latest Research Report on MGEE

MGE Energy Company 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.

Recommended Stories

Want to see what other hedge funds are holding MGEE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MGE Energy, Inc. (NASDAQ:MGEEFree Report).

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

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.