GSA Capital Partners LLP Buys Shares of 19,344 MGE Energy Inc. $MGEE

GSA Capital Partners LLP bought a new position in MGE Energy Inc. (NASDAQ:MGEE) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 19,344 shares of the utilities provider’s stock, valued at approximately $1,628,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. lifted its stake in shares of MGE Energy by 49.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 84,700 shares of the utilities provider’s stock valued at $7,130,000 after purchasing an additional 27,899 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its position in shares of MGE Energy by 19.1% in the third quarter. State of New Jersey Common Pension Fund D now owns 25,048 shares of the utilities provider’s stock worth $2,109,000 after buying an additional 4,011 shares during the last quarter. Public Sector Pension Investment Board boosted its stake in shares of MGE Energy by 14.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 142,520 shares of the utilities provider’s stock worth $11,997,000 after acquiring an additional 17,969 shares in the last quarter. ICW Investment Advisors LLC increased its holdings in shares of MGE Energy by 4.5% during the 3rd quarter. ICW Investment Advisors LLC now owns 9,269 shares of the utilities provider’s stock valued at $780,000 after acquiring an additional 400 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its holdings in shares of MGE Energy by 5.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 13,420 shares of the utilities provider’s stock valued at $1,130,000 after acquiring an additional 728 shares during the last quarter. Institutional investors own 52.58% of the company’s stock.

Analyst Upgrades and Downgrades

MGEE has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of MGE Energy in a research report on Monday, December 29th. Morgan Stanley reduced their price objective on shares of MGE Energy from $74.00 to $73.00 and set an “underweight” rating for the company in a research note on Monday, February 2nd. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $78.00.

MGE Energy Stock Down 0.5%

NASDAQ MGEE opened at $82.43 on Wednesday. MGE Energy Inc. has a 1-year low of $76.47 and a 1-year high of $95.00. The company has a market capitalization of $3.01 billion, a price-to-earnings ratio of 22.34 and a beta of 0.82. The stock’s 50 day moving average is $79.48 and its two-hundred day moving average is $82.25. The company has a current ratio of 0.91, a quick ratio of 0.59 and a debt-to-equity ratio of 0.57.

MGE Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, March 15th. Shareholders of record on Sunday, March 1st will be paid a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a yield of 2.3%. The ex-dividend date is Friday, February 27th. MGE Energy’s dividend payout ratio is currently 51.49%.

MGE Energy Profile

MGE Energy, Inc is a public utility holding company headquartered in Madison, Wisconsin. Through its principal subsidiary, Madison Gas and Electric Company (MGE), the company provides regulated electric and natural gas distribution services to residential, commercial and industrial customers in south-central Wisconsin. MGE Energy’s operations encompass the generation, transmission and distribution of electricity as well as the purchase and distribution of natural gas, with an emphasis on reliable service and system resilience.

Since reorganizing as a holding company in 2001, MGE Energy has expanded its portfolio to include nonregulated subsidiaries involved in renewable energy development, energy services and infrastructure support.