MGE Energy, Inc. (NASDAQ:MGEE) Shares Sold by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC decreased its position in shares of MGE Energy, Inc. (NASDAQ:MGEE) by 9.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 25,330 shares of the utilities provider’s stock after selling 2,658 shares during the quarter. Kingsview Wealth Management LLC’s holdings in MGE Energy were worth $2,316,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of MGEE. Great Valley Advisor Group Inc. raised its stake in shares of MGE Energy by 53.8% during the third quarter. Great Valley Advisor Group Inc. now owns 18,147 shares of the utilities provider’s stock valued at $1,660,000 after purchasing an additional 6,347 shares in the last quarter. Citigroup Inc. raised its stake in shares of MGE Energy by 62.4% during the third quarter. Citigroup Inc. now owns 44,040 shares of the utilities provider’s stock valued at $4,027,000 after purchasing an additional 16,927 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of MGE Energy by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 425,461 shares of the utilities provider’s stock valued at $38,908,000 after purchasing an additional 8,629 shares in the last quarter. Intech Investment Management LLC bought a new stake in shares of MGE Energy during the third quarter valued at about $424,000. Finally, Advisors Asset Management Inc. raised its stake in shares of MGE Energy by 75.0% during the third quarter. Advisors Asset Management Inc. now owns 8,039 shares of the utilities provider’s stock valued at $735,000 after purchasing an additional 3,445 shares in the last quarter. Institutional investors and hedge funds own 52.58% of the company’s stock.

MGE Energy Price Performance

Shares of MGE Energy stock opened at $104.75 on Tuesday. The company has a current ratio of 1.41, a quick ratio of 0.94 and a debt-to-equity ratio of 0.60. The company’s 50-day moving average price is $94.35 and its two-hundred day moving average price is $86.20. MGE Energy, Inc. has a 52 week low of $61.94 and a 52 week high of $109.22. The stock has a market cap of $3.79 billion, a PE ratio of 32.03 and a beta of 0.71.

MGE Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.72%. The ex-dividend date is Friday, November 29th. MGE Energy’s dividend payout ratio (DPR) is presently 55.05%.

Analyst Ratings Changes

Separately, Morgan Stanley lifted their price objective on shares of MGE Energy from $71.00 to $74.00 and gave the company an “underweight” rating in a research note on Wednesday, September 25th.

MGE Energy Profile

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.