GAMMA Investing LLC Buys 3,084 Shares of MGE Energy, Inc. (NASDAQ:MGEE)

GAMMA Investing LLC raised its stake in MGE Energy, Inc. (NASDAQ:MGEE) by 196.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,657 shares of the utilities provider’s stock after purchasing an additional 3,084 shares during the period. GAMMA Investing LLC’s holdings in MGE Energy were worth $438,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in MGEE. Versant Capital Management Inc increased its position in MGE Energy by 367.1% in the 4th quarter. Versant Capital Management Inc now owns 327 shares of the utilities provider’s stock valued at $31,000 after buying an additional 257 shares in the last quarter. JPMorgan Chase & Co. grew its stake in MGE Energy by 16.0% in the third quarter. JPMorgan Chase & Co. now owns 59,585 shares of the utilities provider’s stock valued at $5,449,000 after acquiring an additional 8,233 shares during the period. Geode Capital Management LLC increased its holdings in shares of MGE Energy by 0.7% during the third quarter. Geode Capital Management LLC now owns 863,707 shares of the utilities provider’s stock valued at $79,001,000 after acquiring an additional 5,796 shares in the last quarter. Barclays PLC raised its position in shares of MGE Energy by 345.8% during the third quarter. Barclays PLC now owns 62,308 shares of the utilities provider’s stock worth $5,697,000 after purchasing an additional 48,330 shares during the period. Finally, State Street Corp lifted its holdings in shares of MGE Energy by 0.5% in the 3rd quarter. State Street Corp now owns 1,460,360 shares of the utilities provider’s stock worth $133,550,000 after purchasing an additional 7,294 shares in the last quarter. Institutional investors and hedge funds own 52.58% of the company’s stock.

Analyst Upgrades and Downgrades

MGEE has been the topic of several research reports. Morgan Stanley upped 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. LADENBURG THALM/SH SH upgraded shares of MGE Energy to a “strong sell” rating in a report on Thursday, December 12th.

MGE Energy Price Performance

Shares of NASDAQ:MGEE opened at $93.36 on Monday. The company has a current ratio of 1.41, a quick ratio of 0.94 and a debt-to-equity ratio of 0.60. The stock has a market cap of $3.38 billion, a PE ratio of 28.55 and a beta of 0.76. The stock’s fifty day simple moving average is $98.59 and its two-hundred day simple moving average is $90.32. MGE Energy, Inc. has a 1-year low of $61.94 and a 1-year high of $109.22.

MGE Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend was Friday, November 29th. MGE Energy’s payout ratio is 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.