Harbour Investments Inc. Sells 2,923 Shares of MGE Energy, Inc. (NASDAQ:MGEE)

Harbour Investments Inc. trimmed its position in MGE Energy, Inc. (NASDAQ:MGEE) by 4.7% in the 3rd quarter, Holdings Channel reports. The firm owned 59,175 shares of the utilities provider’s stock after selling 2,923 shares during the quarter. Harbour Investments Inc.’s holdings in MGE Energy were worth $5,412,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Crossmark Global Holdings Inc. bought a new stake in shares of MGE Energy during the 3rd quarter worth $290,000. Covestor Ltd lifted its holdings in shares of MGE Energy by 37.3% during the 3rd quarter. Covestor Ltd now owns 453 shares of the utilities provider’s stock worth $42,000 after acquiring an additional 123 shares during the last quarter. Assetmark Inc. bought a new stake in shares of MGE Energy during the 3rd quarter worth $35,000. Van ECK Associates Corp lifted its holdings in shares of MGE Energy by 7.3% during the 3rd quarter. Van ECK Associates Corp now owns 10,020 shares of the utilities provider’s stock worth $916,000 after acquiring an additional 682 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV lifted its holdings in shares of MGE Energy by 4.1% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 7,819 shares of the utilities provider’s stock worth $715,000 after acquiring an additional 307 shares during the last quarter. 52.58% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Morgan Stanley lifted their price objective on shares of MGE Energy from $71.00 to $74.00 and gave the stock an “underweight” rating in a report on Wednesday, September 25th.

MGE Energy Price Performance

Shares of NASDAQ:MGEE opened at $106.20 on Tuesday. The stock has a market cap of $3.85 billion, a PE ratio of 32.48 and a beta of 0.71. The company’s fifty day moving average is $91.14 and its 200 day moving average is $84.55. MGE Energy, Inc. has a 52 week low of $61.94 and a 52 week high of $107.17. The company has a quick ratio of 0.90, a current ratio of 1.41 and a debt-to-equity ratio of 0.60.

MGE Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date is Friday, November 29th. MGE Energy’s payout ratio is presently 55.05%.

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.