Isthmus Partners LLC Raises Holdings in MGE Energy, Inc. (NASDAQ:MGEE)

Isthmus Partners LLC lifted its holdings in MGE Energy, Inc. (NASDAQ:MGEE) by 18.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,204 shares of the utilities provider’s stock after buying an additional 338 shares during the quarter. Isthmus Partners LLC’s holdings in MGE Energy were worth $202,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Assetmark Inc. purchased a new stake in shares of MGE Energy during the 3rd quarter worth $35,000. Covestor Ltd boosted its holdings in MGE Energy by 37.3% during the third quarter. Covestor Ltd now owns 453 shares of the utilities provider’s stock worth $42,000 after buying an additional 123 shares in the last quarter. Quest Partners LLC grew its position in MGE Energy by 5,088.9% during the second quarter. Quest Partners LLC now owns 467 shares of the utilities provider’s stock worth $35,000 after buying an additional 458 shares during the period. GAMMA Investing LLC increased its holdings in MGE Energy by 244.6% in the second quarter. GAMMA Investing LLC now owns 672 shares of the utilities provider’s stock valued at $50,000 after buying an additional 477 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of MGE Energy during the 2nd quarter worth approximately $58,000. Institutional investors and hedge funds own 52.58% of the company’s stock.

MGE Energy Price Performance

Shares of NASDAQ:MGEE opened at $104.28 on Friday. The business’s 50 day simple moving average is $95.41 and its 200-day simple moving average is $86.77. The firm has a market capitalization of $3.78 billion, a price-to-earnings ratio of 31.89 and a beta of 0.71. 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 12 month low of $61.94 and a 12 month high of $109.22.

MGE Energy Announces Dividend

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

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley boosted their price target on 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 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.