GSA Capital Partners LLP Takes Position in MGE Energy, Inc. (NASDAQ:MGEE)

GSA Capital Partners LLP bought a new position in shares of MGE Energy, Inc. (NASDAQ:MGEE - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 6,385 shares of the utilities provider's stock, valued at approximately $584,000.

Other large investors have also modified their holdings of the company. Assetmark Inc. purchased a new position in shares of MGE Energy in the third quarter worth about $35,000. Covestor Ltd lifted its stake in MGE Energy by 37.3% in the 3rd quarter. Covestor Ltd now owns 453 shares of the utilities provider's stock worth $42,000 after purchasing an additional 123 shares in the last quarter. Quest Partners LLC boosted its holdings in shares of MGE Energy by 5,088.9% during the 2nd quarter. Quest Partners LLC now owns 467 shares of the utilities provider's stock worth $35,000 after purchasing an additional 458 shares during the last quarter. GAMMA Investing LLC grew its position in shares of MGE Energy by 244.6% in the second quarter. GAMMA Investing LLC now owns 672 shares of the utilities provider's stock valued at $50,000 after purchasing an additional 477 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new position in MGE Energy during the second quarter worth $58,000. Hedge funds and other institutional investors own 52.58% of the company's stock.

MGE Energy Trading Down 0.4 %

MGE Energy stock traded down $0.44 during mid-day trading on Tuesday, hitting $104.53. The company's stock had a trading volume of 102,091 shares, compared to its average volume of 214,032. The stock's fifty day moving average is $93.09 and its two-hundred day moving average is $85.52. 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 firm has a market capitalization of $3.79 billion, a PE ratio of 32.10 and a beta of 0.71. MGE Energy, Inc. has a 1 year low of $61.94 and a 1 year high of $109.22.

MGE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be issued a $0.45 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.80 annualized dividend and a yield of 1.72%. MGE Energy's dividend payout ratio (DPR) is currently 55.05%.

Analyst Ratings Changes

Separately, Morgan Stanley lifted their price target on MGE Energy from $71.00 to $74.00 and gave the stock an "underweight" rating in a report on Wednesday, September 25th.

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.