State of New Jersey Common Pension Fund D Has $1.89 Million Stock Position in MGE Energy, Inc. (NASDAQ:MGEE)

State of New Jersey Common Pension Fund D lessened its position in MGE Energy, Inc. (NASDAQ:MGEE) by 11.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 20,082 shares of the utilities provider’s stock after selling 2,655 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.06% of MGE Energy worth $1,887,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its position in MGE Energy by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 425,461 shares of the utilities provider’s stock valued at $38,908,000 after purchasing an additional 8,629 shares during the period. Royce & Associates LP lifted 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 valued at $1,067,000 after buying an additional 7,099 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of MGE Energy in the third quarter valued at $584,000. JPMorgan Chase & Co. grew its holdings in shares of MGE Energy by 16.0% during the third quarter. JPMorgan Chase & Co. now owns 59,585 shares of the utilities provider’s stock valued at $5,449,000 after buying an additional 8,233 shares during the last quarter. Finally, International Assets Investment Management LLC increased its position in shares of MGE Energy by 9,042.4% during the third quarter. International Assets Investment Management LLC now owns 21,759 shares of the utilities provider’s stock worth $1,990,000 after acquiring an additional 21,521 shares in the last quarter. Institutional investors own 52.58% of the company’s stock.

MGE Energy Price Performance

MGEE opened at $93.00 on Tuesday. MGE Energy, Inc. has a 1 year low of $61.94 and a 1 year high of $109.22. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.41 and a quick ratio of 0.94. The company has a market capitalization of $3.37 billion, a price-to-earnings ratio of 28.44 and a beta of 0.76. The firm’s fifty day moving average price is $91.43 and its two-hundred day moving average price is $92.74.

MGE Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 15th. Investors of record on Saturday, March 1st will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.94%. The ex-dividend date is Friday, February 28th. MGE Energy’s dividend payout ratio (DPR) is presently 55.05%.

Analysts Set New Price Targets

Separately, LADENBURG THALM/SH SH raised shares of MGE Energy to a “strong sell” rating in a research report on Thursday, December 12th.

MGE Energy 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.