State of New Jersey Common Pension Fund D Sells 1,518 Shares of MGE Energy, Inc. (NASDAQ:MGEE)

State of New Jersey Common Pension Fund D decreased its stake in MGE Energy, Inc. (NASDAQ:MGEE) by 6.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 22,737 shares of the utilities provider’s stock after selling 1,518 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in MGE Energy were worth $2,079,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Comerica Bank boosted its holdings in shares of MGE Energy by 11,187.2% during the 1st quarter. Comerica Bank now owns 15,012 shares of the utilities provider’s stock valued at $1,182,000 after acquiring an additional 14,879 shares in the last quarter. Edgestream Partners L.P. bought a new stake in shares of MGE Energy during the first quarter worth about $1,178,000. CANADA LIFE ASSURANCE Co acquired a new position in shares of MGE Energy in the first quarter valued at approximately $2,187,000. Teachers Retirement System of The State of Kentucky bought a new position in MGE Energy in the 1st quarter valued at approximately $490,000. Finally, Susquehanna Fundamental Investments LLC boosted its position in 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. Institutional investors and hedge funds own 52.58% of the company’s stock.

MGE Energy Trading Down 0.8 %

NASDAQ MGEE opened at $104.86 on Friday. The firm has a market capitalization of $3.80 billion, a PE ratio of 32.07 and a beta of 0.71. The business’s 50-day moving average price is $92.73 and its two-hundred day moving average price is $85.25. The company has a current ratio of 1.41, a quick ratio of 0.94 and a debt-to-equity ratio of 0.60. MGE Energy, Inc. has a 12 month low of $61.94 and a 12 month high of $109.22.

MGE Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.72%. The ex-dividend date is Friday, November 29th. MGE Energy’s payout ratio is presently 55.05%.

Analyst Ratings Changes

Separately, Morgan Stanley raised their price target on shares of MGE Energy from $71.00 to $74.00 and gave the company an “underweight” rating in a research note 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.