GAMMA Investing LLC Raises Stake in MGE Energy, Inc. (NASDAQ:MGEE)

GAMMA Investing LLC increased its stake in shares of MGE Energy, Inc. (NASDAQ:MGEE) by 196.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,657 shares of the utilities provider’s stock after buying an additional 3,084 shares during the quarter. GAMMA Investing LLC’s holdings in MGE Energy were worth $438,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in MGEE. State Street Corp increased its stake in shares of MGE Energy by 0.5% during the 3rd quarter. State Street Corp now owns 1,460,360 shares of the utilities provider’s stock worth $133,550,000 after purchasing an additional 7,294 shares during the last quarter. Geode Capital Management LLC grew its holdings in MGE Energy by 0.7% during the third quarter. Geode Capital Management LLC now owns 863,707 shares of the utilities provider’s stock valued at $79,001,000 after purchasing an additional 5,796 shares during the period. Dimensional Fund Advisors LP increased its position in MGE Energy by 2.7% in the second quarter. Dimensional Fund Advisors LP now owns 783,396 shares of the utilities provider’s stock worth $58,536,000 after buying an additional 20,533 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of MGE Energy by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 425,461 shares of the utilities provider’s stock valued at $38,908,000 after buying an additional 8,629 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC purchased a new position in shares of MGE Energy during the 3rd quarter valued at $11,765,000. Institutional investors own 52.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. LADENBURG THALM/SH SH raised MGE Energy to a “strong sell” rating in a report on Thursday, December 12th. Morgan Stanley boosted their price target on shares of 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 Stock Up 0.4 %

MGEE stock opened at $93.36 on Monday. The stock has a 50-day simple moving average of $98.59 and a two-hundred day simple moving average of $90.32. MGE Energy, Inc. has a twelve month low of $61.94 and a twelve month high of $109.22. The firm has a market capitalization of $3.38 billion, a PE ratio of 28.55 and a beta of 0.76. The company has a quick ratio of 0.94, a current ratio of 1.41 and a debt-to-equity ratio of 0.60.

MGE Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, December 15th. Shareholders of record on Sunday, December 1st were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.93%. The ex-dividend date was Friday, November 29th. MGE Energy’s dividend payout ratio is presently 55.05%.

MGE Energy Company 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.