State of New Jersey Common Pension Fund D Cuts Stock Position in MGE Energy, Inc. (NASDAQ:MGEE)

State of New Jersey Common Pension Fund D cut its holdings in shares of MGE Energy, Inc. (NASDAQ:MGEE) by 11.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,082 shares of the utilities provider’s stock after selling 2,655 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in MGE Energy were worth $1,887,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in MGEE. Charles Schwab Investment Management Inc. grew its position in MGE Energy by 2.1% during 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. Royce & Associates LP boosted its stake in MGE Energy by 155.4% in the third quarter. Royce & Associates LP now owns 11,668 shares of the utilities provider’s stock valued at $1,067,000 after acquiring an additional 7,099 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of MGE Energy during the 3rd quarter valued at approximately $584,000. JPMorgan Chase & Co. grew its position in shares of MGE Energy by 16.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 59,585 shares of the utilities provider’s stock valued at $5,449,000 after acquiring an additional 8,233 shares during the period. Finally, International Assets Investment Management LLC increased its stake in shares of MGE Energy by 9,042.4% during the 3rd quarter. International Assets Investment Management LLC now owns 21,759 shares of the utilities provider’s stock worth $1,990,000 after purchasing an additional 21,521 shares during the last quarter. 52.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, LADENBURG THALM/SH SH upgraded MGE Energy to a “strong sell” rating in a research note on Thursday, December 12th.

MGE Energy Trading Up 0.9 %

Shares of MGEE opened at $93.00 on Tuesday. MGE Energy, Inc. has a fifty-two week low of $61.94 and a fifty-two week high of $109.22. The business has a 50-day moving average of $91.43 and a 200 day moving average of $92.74. The firm has a market cap of $3.37 billion, a P/E ratio of 28.44 and a beta of 0.76. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.94 and a current ratio of 1.41.

MGE Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.80 annualized dividend and a dividend yield of 1.94%. MGE Energy’s payout ratio is 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.