Martingale Asset Management L P Has $1.09 Million Stock Holdings in MGE Energy, Inc. (NASDAQ:MGEE)

Martingale Asset Management L P grew its holdings in MGE Energy, Inc. (NASDAQ:MGEE) by 67.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 11,912 shares of the utilities provider’s stock after buying an additional 4,812 shares during the quarter. Martingale Asset Management L P’s holdings in MGE Energy were worth $1,089,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Assetmark Inc. acquired a new stake in shares of MGE Energy in the third quarter valued at $35,000. Covestor Ltd increased its stake in shares of MGE Energy by 37.3% in the third quarter. Covestor Ltd now owns 453 shares of the utilities provider’s stock valued at $42,000 after buying an additional 123 shares in the last quarter. Quest Partners LLC increased its stake in shares of MGE Energy by 5,088.9% in the second quarter. Quest Partners LLC now owns 467 shares of the utilities provider’s stock valued at $35,000 after buying an additional 458 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of MGE Energy by 244.6% in the second quarter. GAMMA Investing LLC now owns 672 shares of the utilities provider’s stock valued at $50,000 after buying an additional 477 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of MGE Energy in the second quarter valued at $58,000. 52.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley raised their price target on MGE Energy from $71.00 to $74.00 and gave the company an “underweight” rating in a report on Wednesday, September 25th.

MGE Energy Price Performance

MGE Energy stock opened at $104.28 on Monday. The business’s 50-day simple moving average is $95.66 and its 200 day simple moving average is $86.96. The stock has a market cap of $3.78 billion, a price-to-earnings ratio of 31.89 and a beta of 0.71. MGE Energy, Inc. has a 12-month low of $61.94 and a 12-month high of $109.22. The company has a quick ratio of 0.94, a current ratio of 1.41 and a debt-to-equity ratio of 0.60.

MGE Energy Announces Dividend

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

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.