Hotchkis & Wiley Capital Management LLC Makes New Investment in MGE Energy, Inc. (NASDAQ:MGEE)

Hotchkis & Wiley Capital Management LLC bought a new position in MGE Energy, Inc. (NASDAQ:MGEE) in the third quarter, Holdings Channel reports. The firm bought 128,650 shares of the utilities provider’s stock, valued at approximately $11,765,000.

A number of other large investors have also bought and sold shares of the company. Covestor Ltd increased its position in MGE Energy by 37.3% in the third quarter. Covestor Ltd now owns 453 shares of the utilities provider’s stock worth $42,000 after buying an additional 123 shares during the last quarter. Bank of Montreal Can increased its position in MGE Energy by 1.6% in the second quarter. Bank of Montreal Can now owns 9,149 shares of the utilities provider’s stock worth $705,000 after buying an additional 140 shares during the last quarter. Inspire Investing LLC increased its position in MGE Energy by 3.2% in the second quarter. Inspire Investing LLC now owns 4,702 shares of the utilities provider’s stock worth $351,000 after buying an additional 144 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of MGE Energy by 1.9% in the second quarter. Arizona State Retirement System now owns 10,126 shares of the utilities provider’s stock worth $757,000 after acquiring an additional 187 shares during the period. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of MGE Energy by 9.0% in the second quarter. Nisa Investment Advisors LLC now owns 2,566 shares of the utilities provider’s stock worth $192,000 after acquiring an additional 212 shares during the period. 52.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

MGE Energy Price Performance

MGE Energy stock opened at $104.07 on Wednesday. MGE Energy, Inc. has a one year low of $61.94 and a one year high of $109.22. The business has a fifty day moving average price of $96.16 and a 200-day moving average price of $87.34. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.41 and a quick ratio of 0.94. The firm has a market capitalization of $3.77 billion, a P/E ratio of 31.83 and a beta of 0.74.

MGE Energy Announces Dividend

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

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.