JPMorgan Chase & Co. Raises Stock Holdings in MGE Energy, Inc. (NASDAQ:MGEE)

JPMorgan Chase & Co. increased its holdings in MGE Energy, Inc. (NASDAQ:MGEE - Free Report) by 16.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 59,585 shares of the utilities provider's stock after purchasing an additional 8,233 shares during the quarter. JPMorgan Chase & Co. owned 0.16% of MGE Energy worth $5,449,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Assetmark Inc. bought a new stake in MGE Energy in the third quarter valued at approximately $35,000. Covestor Ltd raised its holdings in MGE Energy by 37.3% during the 3rd quarter. Covestor Ltd now owns 453 shares of the utilities provider's stock valued at $42,000 after buying an additional 123 shares during the last quarter. Quest Partners LLC boosted its position in MGE Energy by 5,088.9% during the 2nd quarter. Quest Partners LLC now owns 467 shares of the utilities provider's stock valued at $35,000 after buying an additional 458 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in MGE Energy during the 2nd quarter valued at $58,000. Finally, GAMMA Investing LLC grew its holdings in MGE Energy by 134.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,573 shares of the utilities provider's stock worth $144,000 after acquiring an additional 901 shares during the last quarter. 52.58% of the stock is owned by institutional investors.

MGE Energy Trading Down 0.1 %

MGE Energy stock traded down $0.05 during mid-day trading on Friday, reaching $93.80. 102,276 shares of the company traded hands, compared to its average volume of 131,580. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.41 and a quick ratio of 0.94. MGE Energy, Inc. has a 52-week low of $61.94 and a 52-week high of $109.22. The firm has a market capitalization of $3.40 billion, a price-to-earnings ratio of 28.69 and a beta of 0.76. The firm's 50 day moving average price is $98.28 and its 200 day moving average price is $91.21.

MGE Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 15th. Investors of record on Saturday, March 1st will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.92%. MGE Energy's payout ratio is currently 55.05%.

Analyst Ratings Changes

A number of research firms have recently weighed in on MGEE. LADENBURG THALM/SH SH upgraded shares of MGE Energy to a "strong sell" rating in a report on Thursday, December 12th. Morgan Stanley upped their price target on MGE Energy from $71.00 to $74.00 and gave the company an "underweight" rating in a research 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.