Jane Street Group LLC Has $861,000 Holdings in MGE Energy, Inc. (NASDAQ:MGEE)

Jane Street Group LLC cut its stake in MGE Energy, Inc. (NASDAQ:MGEE) by 88.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,164 shares of the utilities provider’s stock after selling 69,504 shares during the period. Jane Street Group LLC’s holdings in MGE Energy were worth $861,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Sterling Capital Management LLC raised its holdings in shares of MGE Energy by 656.2% in the 4th quarter. Sterling Capital Management LLC now owns 673 shares of the utilities provider’s stock worth $63,000 after buying an additional 584 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of MGE Energy by 507.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,112 shares of the utilities provider’s stock worth $105,000 after buying an additional 929 shares in the last quarter. KBC Group NV raised its holdings in shares of MGE Energy by 32.2% in the 4th quarter. KBC Group NV now owns 1,478 shares of the utilities provider’s stock worth $139,000 after buying an additional 360 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of MGE Energy by 7,321.7% in the 4th quarter. Farther Finance Advisors LLC now owns 1,707 shares of the utilities provider’s stock worth $160,000 after buying an additional 1,684 shares in the last quarter. Finally, EnRich Financial Partners LLC increased its holdings in MGE Energy by 8.7% during the 4th quarter. EnRich Financial Partners LLC now owns 1,744 shares of the utilities provider’s stock valued at $164,000 after purchasing an additional 139 shares in the last quarter. 52.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Morgan Stanley dropped their price target on MGE Energy from $75.00 to $74.00 and set an “underweight” rating for the company in a report on Thursday. LADENBURG THALM/SH SH raised MGE Energy to a “strong sell” rating in a report on Friday, May 9th.

MGE Energy Trading Up 0.5%

MGEE stock opened at $89.99 on Friday. The business has a fifty day moving average price of $90.72 and a 200 day moving average price of $93.48. MGE Energy, Inc. has a fifty-two week low of $72.27 and a fifty-two week high of $109.22. The stock has a market capitalization of $3.29 billion, a price-to-earnings ratio of 27.52 and a beta of 0.80. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.41 and a quick ratio of 0.94.

MGE Energy (NASDAQ:MGEE) last released its quarterly earnings results on Wednesday, May 7th. The utilities provider reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.16. MGE Energy had a return on equity of 10.18% and a net margin of 17.70%. The firm had revenue of $218.97 million during the quarter, compared to analysts’ expectations of $202.42 million. Analysts expect that MGE Energy, Inc. will post 3.43 EPS for the current fiscal year.

MGE Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 15th. Shareholders of record on Sunday, June 1st will be given a $0.45 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.80 dividend on an annualized basis and a yield of 2.00%. MGE Energy’s payout ratio is 50.85%.

Insider Buying and Selling at MGE Energy

In other news, Director James G. Berbee acquired 446 shares of the firm’s stock in a transaction on Wednesday, March 12th. The shares were purchased at an average cost of $90.83 per share, for a total transaction of $40,510.18. Following the transaction, the director now owns 11,532 shares of the company’s stock, valued at approximately $1,047,451.56. This represents a 4.02% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.19% of the company’s stock.

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.