Jane Street Group LLC Sells 66,098 Shares of MGE Energy, Inc. (NASDAQ:MGEE)

Jane Street Group LLC lessened its holdings in shares of MGE Energy, Inc. (NASDAQ:MGEE) by 45.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 78,668 shares of the utilities provider’s stock after selling 66,098 shares during the quarter. Jane Street Group LLC’s holdings in MGE Energy were worth $7,194,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Hotchkis & Wiley Capital Management LLC bought a new stake in MGE Energy in the 3rd quarter valued at $11,765,000. Millennium Management LLC lifted its position in shares of MGE Energy by 136.0% in the second quarter. Millennium Management LLC now owns 79,200 shares of the utilities provider’s stock worth $5,918,000 after buying an additional 45,647 shares in the last quarter. Squarepoint Ops LLC bought a new position in MGE Energy during the second quarter valued at approximately $1,671,000. International Assets Investment Management LLC grew its holdings in 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 valued at $1,990,000 after buying an additional 21,521 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in MGE Energy by 2.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 783,396 shares of the utilities provider’s stock worth $58,536,000 after acquiring an additional 20,533 shares during the last quarter. 52.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Morgan Stanley boosted their price target 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.

MGE Energy Stock Performance

MGEE stock opened at $97.75 on Friday. MGE Energy, Inc. has a twelve month low of $61.94 and a twelve month high of $109.22. The firm has a market cap of $3.54 billion, a price-to-earnings ratio of 29.89 and a beta of 0.74. The business’s fifty day simple moving average is $97.61 and its two-hundred day simple moving average is $88.43. The company has a quick ratio of 0.94, a current ratio of 1.41 and a debt-to-equity ratio of 0.60.

MGE Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date is Friday, November 29th. MGE Energy’s payout ratio is 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.