JPMorgan Chase & Co. Boosts Stake in MGE Energy, Inc. (NASDAQ:MGEE)

JPMorgan Chase & Co. increased its stake in shares of MGE Energy, Inc. (NASDAQ:MGEE) by 16.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,585 shares of the utilities provider’s stock after buying an additional 8,233 shares during the quarter. JPMorgan Chase & Co. owned about 0.16% of MGE Energy worth $5,449,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its position in MGE Energy by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 425,461 shares of the utilities provider’s stock worth $38,908,000 after acquiring an additional 8,629 shares during the period. Royce & Associates LP raised its stake in shares of MGE Energy by 155.4% in the third quarter. Royce & Associates LP now owns 11,668 shares of the utilities provider’s stock worth $1,067,000 after purchasing an additional 7,099 shares during the last quarter. Susquehanna Fundamental Investments LLC lifted its holdings in shares of MGE Energy by 56.1% during the second quarter. Susquehanna Fundamental Investments LLC now owns 50,987 shares of the utilities provider’s stock worth $3,810,000 after purchasing an additional 18,315 shares during the period. GSA Capital Partners LLP purchased a new stake in MGE Energy in the third quarter valued at approximately $584,000. Finally, International Assets Investment Management LLC increased its holdings in MGE Energy by 9,042.4% in the 3rd quarter. International Assets Investment Management LLC now owns 21,759 shares of the utilities provider’s stock worth $1,990,000 after buying an additional 21,521 shares during the period. 52.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the stock. Morgan Stanley lifted their price objective on shares of MGE Energy from $71.00 to $74.00 and gave the company an “underweight” rating in a research note on Wednesday, September 25th. LADENBURG THALM/SH SH raised shares of MGE Energy to a “strong sell” rating in a report on Thursday, December 12th.

MGE Energy Stock Up 2.3 %

MGE Energy stock opened at $93.85 on Friday. The business’s 50-day moving average price is $98.44 and its 200 day moving average price is $91.07. The company has a quick ratio of 0.94, a current ratio of 1.41 and a debt-to-equity ratio of 0.60. The firm has a market cap of $3.40 billion, a price-to-earnings ratio of 28.70 and a beta of 0.76. MGE Energy, Inc. has a 52 week low of $61.94 and a 52 week high of $109.22.

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.