MGE Energy, Inc. (MGEE) Holdings Raised by Associated Banc Corp

Associated Banc Corp boosted its position in MGE Energy, Inc. (NASDAQ:MGEE) by 20.5% during the first quarter, Holdings Channel reports. The fund owned 4,292 shares of the utilities provider’s stock after acquiring an additional 730 shares during the period. Associated Banc Corp’s holdings in MGE Energy were worth $292,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. GSA Capital Partners LLP boosted its stake in shares of MGE Energy by 3.9% during the 4th quarter. GSA Capital Partners LLP now owns 4,447 shares of the utilities provider’s stock valued at $267,000 after purchasing an additional 168 shares in the last quarter. Prudential Financial Inc. boosted its stake in shares of MGE Energy by 0.5% during the 4th quarter. Prudential Financial Inc. now owns 54,384 shares of the utilities provider’s stock valued at $3,261,000 after purchasing an additional 259 shares in the last quarter. Landaas & Co. WI ADV bought a new stake in shares of MGE Energy during the 1st quarter valued at about $26,000. Citigroup Inc. boosted its stake in shares of MGE Energy by 2.6% during the 4th quarter. Citigroup Inc. now owns 10,285 shares of the utilities provider’s stock valued at $617,000 after purchasing an additional 264 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of MGE Energy by 15.6% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,549 shares of the utilities provider’s stock valued at $173,000 after purchasing an additional 344 shares in the last quarter. 41.39% of the stock is currently owned by institutional investors and hedge funds.

Separately, BidaskClub raised shares of MGE Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, May 14th.

Shares of MGEE opened at $70.26 on Friday. The stock has a market cap of $2.42 billion, a PE ratio of 27.50 and a beta of 0.38. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.68 and a current ratio of 1.97. MGE Energy, Inc. has a 1-year low of $55.30 and a 1-year high of $70.74.

MGE Energy (NASDAQ:MGEE) last announced its earnings results on Wednesday, May 8th. The utilities provider reported $0.69 earnings per share for the quarter. The firm had revenue of $167.57 million for the quarter. MGE Energy had a net margin of 15.49% and a return on equity of 10.85%.

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 15th. Stockholders of record on Saturday, June 1st will be paid a dividend of $0.3375 per share. This represents a $1.35 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend is Thursday, May 30th.

In related news, Chairman Jeffrey M. Keebler bought 525 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were purchased at an average price of $66.62 per share, with a total value of $34,975.50. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.19% of the company’s stock.

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MGE Energy Company Profile

MGE Energy, Inc, through its subsidiaries, operates as a public utility holding company primarily in Wisconsin. It operates through five segments: Regulated Electric Utility Operations; Regulated Gas Utility Operations; Nonregulated Energy Operations; Transmission Investments; and All Other. The company generates, purchases, and distributes electricity; owns or leases electric generation facilities located in Wisconsin and Iowa; and plans, constructs, operates, maintains, and expands transmission facilities to provide transmission services.

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Institutional Ownership by Quarter for MGE Energy (NASDAQ:MGEE)

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