JPMorgan Chase & Co. Has $13.72 Million Holdings in MGE Energy, Inc. (NASDAQ:MGEE)

JPMorgan Chase & Co. increased its stake in shares of MGE Energy, Inc. (NASDAQ:MGEE - Free Report) by 145.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 146,008 shares of the utilities provider's stock after purchasing an additional 86,423 shares during the period. JPMorgan Chase & Co. owned approximately 0.40% of MGE Energy worth $13,719,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Versant Capital Management Inc lifted its holdings in MGE Energy by 367.1% during the fourth quarter. Versant Capital Management Inc now owns 327 shares of the utilities provider's stock worth $31,000 after acquiring an additional 257 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of MGE Energy by 88.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 357 shares of the utilities provider's stock valued at $34,000 after purchasing an additional 168 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of MGE Energy by 507.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,112 shares of the utilities provider's stock valued at $105,000 after purchasing an additional 929 shares during the period. KBC Group NV increased its stake in MGE Energy by 32.2% during the 4th quarter. KBC Group NV now owns 1,478 shares of the utilities provider's stock worth $139,000 after purchasing an additional 360 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in MGE Energy by 7,321.7% during the 4th quarter. Farther Finance Advisors LLC now owns 1,707 shares of the utilities provider's stock worth $160,000 after buying an additional 1,684 shares during the period. 52.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on MGEE shares. Morgan Stanley increased their price objective on shares of MGE Energy from $78.00 to $80.00 and gave the stock an "underweight" rating in a research report on Thursday, March 20th. LADENBURG THALM/SH SH upgraded MGE Energy to a "strong sell" rating in a report on Monday, March 17th.

MGE Energy Stock Up 1.3 %

NASDAQ:MGEE traded up $1.21 during trading hours on Thursday, reaching $91.53. 16,545 shares of the stock were exchanged, compared to its average volume of 143,264. The stock has a market cap of $3.34 billion, a PE ratio of 27.93 and a beta of 0.71. MGE Energy, Inc. has a twelve month low of $72.27 and a twelve month high of $109.22. The firm has a 50 day moving average of $90.95 and a 200 day moving average of $93.49. 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 (NASDAQ:MGEE - Get Free Report) last announced its earnings results on Tuesday, February 25th. The utilities provider reported $0.61 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.23). MGE Energy had a return on equity of 10.18% and a net margin of 17.70%. The business had revenue of $171.42 million for the quarter. On average, equities analysts expect that MGE Energy, Inc. will post 3.43 earnings per share for the current year.

MGE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Saturday, March 1st were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend was Friday, February 28th. MGE Energy's dividend payout ratio is currently 54.05%.

Insider Buying and Selling

In related news, Director James G. Berbee purchased 446 shares of the stock in a transaction on Wednesday, March 12th. The shares were purchased at an average price of $90.83 per share, with a total value of $40,510.18. Following the transaction, the director now directly owns 11,532 shares of the company's stock, valued at $1,047,451.56. This trade represents a 4.02 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

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.