GAMMA Investing LLC Purchases 901 Shares of MGE Energy, Inc. (NASDAQ:MGEE)

GAMMA Investing LLC lifted its position in MGE Energy, Inc. (NASDAQ:MGEE) by 134.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,573 shares of the utilities provider’s stock after acquiring an additional 901 shares during the quarter. GAMMA Investing LLC’s holdings in MGE Energy were worth $144,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Comerica Bank lifted its stake in MGE Energy by 11,187.2% in the first quarter. Comerica Bank now owns 15,012 shares of the utilities provider’s stock worth $1,182,000 after purchasing an additional 14,879 shares during the last quarter. Quadrature Capital Ltd boosted its holdings in MGE Energy by 122.1% during the 4th quarter. Quadrature Capital Ltd now owns 21,484 shares of the utilities provider’s stock valued at $1,554,000 after acquiring an additional 11,809 shares during the period. Edgestream Partners L.P. bought a new position in MGE Energy in the 1st quarter valued at $1,178,000. CANADA LIFE ASSURANCE Co purchased a new stake in MGE Energy in the first quarter worth $2,187,000. Finally, Texas Permanent School Fund Corp purchased a new stake in MGE Energy in the first quarter worth $2,491,000. 52.58% of the stock is owned by hedge funds and other institutional investors.

MGE Energy Stock Performance

MGE Energy stock opened at $90.52 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.90 and a current ratio of 1.32. The company has a market capitalization of $3.27 billion, a PE ratio of 27.27 and a beta of 0.70. The company has a 50 day moving average price of $88.18 and a 200-day moving average price of $82.21. MGE Energy, Inc. has a fifty-two week low of $61.94 and a fifty-two week high of $93.15.

MGE Energy (NASDAQ:MGEE) last issued its earnings results on Wednesday, August 7th. The utilities provider reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.29). MGE Energy had a net margin of 17.45% and a return on equity of 10.04%. The firm had revenue of $145.71 million for the quarter, compared to the consensus estimate of $151.29 million. As a group, equities analysts forecast that MGE Energy, Inc. will post 3.69 earnings per share for the current year.

MGE Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 15th. Stockholders of record on Sunday, September 1st were issued a $0.45 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.80 annualized dividend and a dividend yield of 1.99%. This is a positive change from MGE Energy’s previous quarterly dividend of $0.43. MGE Energy’s payout ratio is currently 54.22%.

Wall Street Analyst Weigh In

Separately, Morgan Stanley upped their price target on shares of 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.