BNP Paribas Financial Markets Grows Stake in MGE Energy, Inc. (NASDAQ:MGEE)

BNP Paribas Financial Markets boosted its position in MGE Energy, Inc. (NASDAQ:MGEE) by 5.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 11,838 shares of the utilities provider’s stock after buying an additional 574 shares during the period. BNP Paribas Financial Markets’ holdings in MGE Energy were worth $1,083,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of MGEE. SG Americas Securities LLC increased its stake in MGE Energy by 219.0% in the 2nd quarter. SG Americas Securities LLC now owns 4,064 shares of the utilities provider’s stock valued at $304,000 after purchasing an additional 2,790 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in MGE Energy by 8.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 10,717 shares of the utilities provider’s stock valued at $801,000 after purchasing an additional 876 shares in the last quarter. Great Valley Advisor Group Inc. increased its stake in MGE Energy by 37.9% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 11,800 shares of the utilities provider’s stock valued at $882,000 after purchasing an additional 3,242 shares in the last quarter. AlphaMark Advisors LLC purchased a new position in MGE Energy in the 2nd quarter valued at approximately $290,000. Finally, Blue Trust Inc. increased its stake in MGE Energy by 9,763.3% in the 2nd quarter. Blue Trust Inc. now owns 2,959 shares of the utilities provider’s stock valued at $233,000 after purchasing an additional 2,929 shares in the last quarter. 52.58% of the stock is owned by hedge funds and other institutional investors.

MGE Energy Stock Performance

MGE Energy stock opened at $99.47 on Wednesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.94 and a current ratio of 1.41. The stock has a fifty day moving average of $97.12 and a two-hundred day moving average of $88.06. The company has a market capitalization of $3.60 billion, a price-to-earnings ratio of 30.42 and a beta of 0.74. MGE Energy, Inc. has a fifty-two week low of $61.94 and a fifty-two week high of $109.22.

MGE Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend is Friday, November 29th. MGE Energy’s payout ratio is 55.05%.

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 research report on Wednesday, September 25th.

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.