Thrivent Financial for Lutherans Grows Holdings in MGE Energy, Inc. (NASDAQ:MGEE)

Thrivent Financial for Lutherans increased its stake in MGE Energy, Inc. (NASDAQ:MGEE) by 2.7% in the third quarter, Holdings Channel reports. The institutional investor owned 30,849 shares of the utilities provider’s stock after acquiring an additional 818 shares during the quarter. Thrivent Financial for Lutherans’ holdings in MGE Energy were worth $2,821,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

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

MGE Energy Stock Down 1.3 %

MGEE stock opened at $103.34 on Wednesday. MGE Energy, Inc. has a 52-week low of $61.94 and a 52-week high of $109.22. 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 $3.74 billion, a P/E ratio of 31.55 and a beta of 0.71. The company’s 50 day simple moving average is $94.61 and its 200-day simple moving average is $86.36.

MGE Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st will be paid 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 yield of 1.74%. MGE Energy’s dividend payout ratio (DPR) is presently 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.