GAMMA Investing LLC Boosts Position in MGE Energy Inc. (NASDAQ:MGEE)

GAMMA Investing LLC increased its position in shares of MGE Energy Inc. (NASDAQ:MGEE) by 5.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,908 shares of the utilities provider’s stock after acquiring an additional 251 shares during the quarter. GAMMA Investing LLC’s holdings in MGE Energy were worth $456,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Alpine Global Management LLC acquired a new stake in shares of MGE Energy during the fourth quarter valued at about $797,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of MGE Energy by 0.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 72,893 shares of the utilities provider’s stock worth $6,849,000 after acquiring an additional 567 shares during the last quarter. Vident Advisory LLC boosted its position in shares of MGE Energy by 4.9% during the 4th quarter. Vident Advisory LLC now owns 8,309 shares of the utilities provider’s stock worth $781,000 after purchasing an additional 389 shares during the period. Squarepoint Ops LLC acquired a new stake in MGE Energy in the 4th quarter valued at approximately $1,303,000. Finally, Twinbeech Capital LP purchased a new stake in MGE Energy in the fourth quarter valued at approximately $209,000. Hedge funds and other institutional investors own 52.58% of the company’s stock.

MGE Energy Stock Up 1.4%

Shares of NASDAQ MGEE opened at $89.70 on Wednesday. The business has a 50-day moving average of $89.98 and a two-hundred day moving average of $90.84. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.07 and a quick ratio of 1.49. The company has a market capitalization of $3.28 billion, a price-to-earnings ratio of 25.34 and a beta of 0.77. MGE Energy Inc. has a 1 year low of $72.27 and a 1 year high of $109.22.

MGE Energy (NASDAQ:MGEE) last announced 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 net margin of 18.22% and a return on equity of 10.58%. The firm had revenue of $218.97 million during the quarter, compared to analysts’ expectations of $202.42 million. On average, analysts forecast that MGE Energy Inc. will post 3.43 earnings per share for the current fiscal year.

MGE Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, June 15th. Investors of record on Sunday, June 1st were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.01%. The ex-dividend date was Friday, May 30th. MGE Energy’s dividend payout ratio is presently 50.85%.

Wall Street Analyst Weigh In

Several research firms have recently commented on MGEE. LADENBURG THALM/SH SH upgraded MGE Energy to a “strong sell” rating in a research report on Friday, May 9th. Morgan Stanley lowered their target price on MGE Energy from $75.00 to $74.00 and set an “underweight” rating for the company in a report on Thursday, May 22nd.

MGE Energy Company 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.