Independent Advisor Alliance Has $572,000 Stock Position in MGE Energy, Inc. (NASDAQ:MGEE)

Independent Advisor Alliance trimmed its stake in shares of MGE Energy, Inc. (NASDAQ:MGEE) by 6.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,253 shares of the utilities provider’s stock after selling 461 shares during the period. Independent Advisor Alliance’s holdings in MGE Energy were worth $572,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its holdings in MGE Energy by 2.7% during the second quarter. Dimensional Fund Advisors LP now owns 783,396 shares of the utilities provider’s stock worth $58,536,000 after acquiring an additional 20,533 shares in the last quarter. Bank of New York Mellon Corp grew its stake in MGE Energy by 3.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 444,057 shares of the utilities provider’s stock valued at $33,180,000 after buying an additional 15,522 shares during the last quarter. Charles Schwab Investment Management Inc. increased 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 worth $38,908,000 after purchasing an additional 8,629 shares during the period. Public Sector Pension Investment Board boosted its position in shares of MGE Energy by 7.4% in the second quarter. Public Sector Pension Investment Board now owns 79,592 shares of the utilities provider’s stock valued at $5,947,000 after acquiring an additional 5,472 shares during the period. Finally, Millennium Management LLC raised its position in shares of MGE Energy by 136.0% in the second quarter. Millennium Management LLC now owns 79,200 shares of the utilities provider’s stock valued at $5,918,000 after buying an additional 45,647 shares in the last quarter. 52.58% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

MGE Energy Stock Performance

NASDAQ:MGEE opened at $104.76 on Thursday. The stock’s 50-day simple moving average is $94.85 and its 200 day simple moving average is $86.51. The firm has a market capitalization of $3.79 billion, a PE ratio of 32.04 and a beta of 0.71. 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, Inc. has a twelve month low of $61.94 and a twelve month high of $109.22.

MGE Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date is Friday, November 29th. MGE Energy’s payout ratio is 55.05%.

MGE Energy Company 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.