Redmond Asset Management LLC Invests $360,000 in MGE Energy, Inc. (NASDAQ:MGEE)

Redmond Asset Management LLC bought a new position in shares of MGE Energy, Inc. (NASDAQ:MGEE) during the fourth quarter, Holdings Channel reports. The firm bought 3,836 shares of the utilities provider’s stock, valued at approximately $360,000.

A number of other hedge funds also recently made changes to their positions in the business. Merit Financial Group LLC boosted its holdings in MGE Energy by 1.7% in the 4th quarter. Merit Financial Group LLC now owns 7,079 shares of the utilities provider’s stock worth $665,000 after buying an additional 116 shares during the period. Covestor Ltd boosted its holdings in MGE Energy by 37.3% in the 3rd quarter. Covestor Ltd now owns 453 shares of the utilities provider’s stock worth $42,000 after buying an additional 123 shares during the period. Savant Capital LLC boosted its holdings in MGE Energy by 2.9% in the 4th quarter. Savant Capital LLC now owns 4,922 shares of the utilities provider’s stock worth $462,000 after buying an additional 139 shares during the period. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in MGE Energy by 88.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 357 shares of the utilities provider’s stock worth $34,000 after buying an additional 168 shares during the period. Finally, Choreo LLC boosted its holdings in MGE Energy by 10.8% in the 4th quarter. Choreo LLC now owns 2,526 shares of the utilities provider’s stock worth $238,000 after buying an additional 247 shares during the period. 52.58% of the stock is currently owned by institutional investors.

MGE Energy Stock Up 1.2 %

Shares of NASDAQ:MGEE opened at $92.19 on Friday. The firm has a fifty day moving average price of $91.50 and a two-hundred day moving average price of $92.63. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.41 and a quick ratio of 0.94. MGE Energy, Inc. has a one year low of $61.94 and a one year high of $109.22. The company has a market cap of $3.34 billion, a price-to-earnings ratio of 28.19 and a beta of 0.76.

MGE Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.95%. The ex-dividend date is Friday, February 28th. MGE Energy’s payout ratio is 55.05%.

Wall Street Analysts Forecast Growth

Separately, LADENBURG THALM/SH SH raised shares of MGE Energy to a “strong sell” rating in a report on Thursday, December 12th.

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.