Chicago Equity Partners LLC Purchases Shares of 9,375 MGE Energy, Inc. (MGEE)
Chicago Equity Partners LLC purchased a new stake in MGE Energy, Inc. (NASDAQ:MGEE) during the second quarter, HoldingsChannel.com reports. The firm purchased 9,375 shares of the utilities provider’s stock, valued at approximately $591,000.
Several other institutional investors and hedge funds also recently made changes to their positions in MGEE. Landaas & Co. WI ADV acquired a new position in shares of MGE Energy during the 2nd quarter valued at $151,000. Associated Banc Corp acquired a new position in shares of MGE Energy during the 2nd quarter valued at $225,000. Huntington National Bank lifted its holdings in shares of MGE Energy by 459.4% during the 2nd quarter. Huntington National Bank now owns 3,776 shares of the utilities provider’s stock valued at $238,000 after acquiring an additional 3,101 shares in the last quarter. A.R.T. Advisors LLC acquired a new position in shares of MGE Energy during the 1st quarter valued at $428,000. Finally, GSA Capital Partners LLP acquired a new position in shares of MGE Energy during the 1st quarter valued at $429,000. Institutional investors own 40.13% of the company’s stock.
NASDAQ:MGEE opened at $66.35 on Friday. The company has a current ratio of 2.05, a quick ratio of 1.69 and a debt-to-equity ratio of 0.52. The firm has a market cap of $2.28 billion, a P/E ratio of 28.18 and a beta of 0.19. MGE Energy, Inc. has a twelve month low of $51.05 and a twelve month high of $68.10.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, September 15th. Investors of record on Saturday, September 1st will be issued a dividend of $0.3375 per share. This is a positive change from MGE Energy’s previous quarterly dividend of $0.32. The ex-dividend date is Thursday, August 30th. This represents a $1.35 annualized dividend and a dividend yield of 2.03%.
Several equities analysts recently weighed in on MGEE shares. BidaskClub upgraded shares of MGE Energy from a “hold” rating to a “buy” rating in a report on Friday, June 22nd. ValuEngine upgraded shares of MGE Energy from a “sell” rating to a “hold” rating in a report on Tuesday, June 26th.
About MGE Energy
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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