19,344 Shares in MGE Energy Inc. $MGEE Bought by GSA Capital Partners LLP

GSA Capital Partners LLP bought a new position in shares of MGE Energy Inc. (NASDAQ:MGEE) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 19,344 shares of the utilities provider’s stock, valued at approximately $1,628,000. GSA Capital Partners LLP owned 0.05% of MGE Energy as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Geode Capital Management LLC increased its stake in MGE Energy by 1.8% in the 2nd quarter. Geode Capital Management LLC now owns 912,735 shares of the utilities provider’s stock worth $80,737,000 after purchasing an additional 15,762 shares in the last quarter. First Trust Advisors LP increased its position in shares of MGE Energy by 407.1% in the second quarter. First Trust Advisors LP now owns 499,950 shares of the utilities provider’s stock worth $44,216,000 after acquiring an additional 401,361 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of MGE Energy by 1.3% during the second quarter. Bank of New York Mellon Corp now owns 350,726 shares of the utilities provider’s stock valued at $31,018,000 after acquiring an additional 4,599 shares during the period. Invesco Ltd. raised its holdings in shares of MGE Energy by 14.3% during the second quarter. Invesco Ltd. now owns 238,747 shares of the utilities provider’s stock valued at $21,115,000 after acquiring an additional 29,811 shares during the period. Finally, Legal & General Group Plc lifted its position in shares of MGE Energy by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 210,602 shares of the utilities provider’s stock valued at $18,626,000 after acquiring an additional 6,001 shares in the last quarter. Institutional investors and hedge funds own 52.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MGEE. Weiss Ratings reiterated a “hold (c+)” rating on shares of MGE Energy in a research report on Monday, December 29th. Morgan Stanley lowered their price target on MGE Energy from $74.00 to $73.00 and set an “underweight” rating on the stock in a report on Monday, February 2nd. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $78.00.

MGE Energy Stock Down 0.5%

MGEE stock opened at $82.43 on Wednesday. The company has a 50 day moving average of $79.48 and a two-hundred day moving average of $82.25. The company has a market cap of $3.01 billion, a price-to-earnings ratio of 22.34 and a beta of 0.82. MGE Energy Inc. has a 12-month low of $76.47 and a 12-month high of $95.00. The company has a quick ratio of 0.59, a current ratio of 0.91 and a debt-to-equity ratio of 0.57.

MGE Energy Dividend Announcement

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

About MGE Energy

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.