GSA Capital Partners LLP Acquires Shares of 6,385 MGE Energy, Inc. (NASDAQ:MGEE)

GSA Capital Partners LLP acquired a new stake in MGE Energy, Inc. (NASDAQ:MGEE) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 6,385 shares of the utilities provider’s stock, valued at approximately $584,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MGEE. Quest Partners LLC lifted its stake in MGE Energy by 5,088.9% in the second 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 last quarter. Assetmark Inc. purchased a new stake in MGE Energy in the third quarter valued at approximately $35,000. Covestor Ltd lifted its stake in MGE Energy by 37.3% in the third 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. GAMMA Investing LLC lifted its stake in 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 buying an additional 477 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new stake in MGE Energy in the second quarter valued at approximately $58,000. Hedge funds and other institutional investors own 52.58% of the company’s stock.

Analyst Ratings Changes

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

MGE Energy Trading Up 0.1 %

NASDAQ:MGEE opened at $104.97 on Tuesday. The firm has a market cap of $3.80 billion, a P/E ratio of 32.10 and a beta of 0.71. 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 stock’s 50 day simple moving average is $93.09 and its 200-day simple moving average is $85.52. MGE Energy, Inc. has a 12-month low of $61.94 and a 12-month high of $109.22.

MGE Energy Announces Dividend

The firm 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 dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend is Friday, November 29th. MGE Energy’s dividend payout ratio is presently 55.05%.

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.