JPMorgan Chase & Co. Grows Holdings in MGE Energy, Inc. (NASDAQ:MGEE)

JPMorgan Chase & Co. lifted its position in shares of MGE Energy, Inc. (NASDAQ:MGEE) by 16.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 59,585 shares of the utilities provider’s stock after purchasing an additional 8,233 shares during the period. JPMorgan Chase & Co.’s holdings in MGE Energy were worth $5,449,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of MGEE. Charles Schwab Investment Management Inc. increased its stake in shares of MGE Energy by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 425,461 shares of the utilities provider’s stock valued at $38,908,000 after purchasing an additional 8,629 shares in the last quarter. Royce & Associates LP increased its position in shares of 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 buying an additional 7,099 shares in the last quarter. Susquehanna Fundamental Investments LLC raised its stake in shares of MGE Energy by 56.1% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 50,987 shares of the utilities provider’s stock worth $3,810,000 after buying an additional 18,315 shares during the period. GSA Capital Partners LLP purchased a new position in shares of MGE Energy during the 3rd quarter valued at approximately $584,000. Finally, International Assets Investment Management LLC grew its stake in MGE Energy by 9,042.4% in the 3rd quarter. International Assets Investment Management LLC now owns 21,759 shares of the utilities provider’s stock valued at $1,990,000 after acquiring an additional 21,521 shares during the period. 52.58% of the stock is owned by hedge funds and other institutional investors.

MGE Energy Stock Performance

NASDAQ MGEE opened at $93.85 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.41 and a quick ratio of 0.94. The stock’s 50 day simple moving average is $98.44 and its 200-day simple moving average is $91.07. The company has a market cap of $3.40 billion, a PE ratio of 28.70 and a beta of 0.76. MGE Energy, Inc. has a 1-year low of $61.94 and a 1-year high of $109.22.

Wall Street Analyst Weigh In

MGEE has been the subject of a number of research analyst reports. Morgan Stanley upped their price objective on shares of MGE Energy from $71.00 to $74.00 and gave the stock an “underweight” rating in a research report on Wednesday, September 25th. LADENBURG THALM/SH SH raised shares of MGE Energy to a “strong sell” rating in a research note on Thursday, December 12th.

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.