Jane Street Group LLC Cuts Stock Holdings in MGE Energy, Inc. (NASDAQ:MGEE)

Jane Street Group LLC trimmed its position in MGE Energy, Inc. (NASDAQ:MGEE - Free Report) by 88.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,164 shares of the utilities provider's stock after selling 69,504 shares during the period. Jane Street Group LLC's holdings in MGE Energy were worth $861,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Schonfeld Strategic Advisors LLC bought a new stake in MGE Energy during the 4th quarter worth approximately $961,000. Northern Trust Corp increased its holdings in MGE Energy by 6.7% during the 4th quarter. Northern Trust Corp now owns 393,127 shares of the utilities provider's stock worth $36,938,000 after purchasing an additional 24,605 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in MGE Energy during the 4th quarter worth approximately $4,556,000. Dark Forest Capital Management LP bought a new stake in MGE Energy during the 4th quarter worth approximately $291,000. Finally, Alpine Global Management LLC bought a new stake in MGE Energy during the 4th quarter worth approximately $797,000. 52.58% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MGEE has been the topic of a number of research analyst reports. LADENBURG THALM/SH SH upgraded MGE Energy to a "strong sell" rating in a research note on Friday, May 9th. Morgan Stanley cut their target price on MGE Energy from $75.00 to $74.00 and set an "underweight" rating on the stock in a research note on Thursday, May 22nd.

Insider Transactions at MGE Energy

In other news, Director James G. Berbee purchased 446 shares of the firm's stock in a transaction dated Wednesday, March 12th. The shares were purchased at an average price of $90.83 per share, with a total value of $40,510.18. Following the completion of the acquisition, the director now owns 11,532 shares in the company, valued at $1,047,451.56. This trade represents a 4.02% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.19% of the company's stock.

MGE Energy Stock Performance

MGE Energy stock traded up $1.02 during trading on Thursday, hitting $90.42. The stock had a trading volume of 77,836 shares, compared to its average volume of 138,663. MGE Energy, Inc. has a 1 year low of $72.27 and a 1 year high of $109.22. The company has a quick ratio of 0.94, a current ratio of 1.41 and a debt-to-equity ratio of 0.60. The stock's 50 day moving average is $90.57 and its two-hundred day moving average is $93.19. The stock has a market cap of $3.30 billion, a price-to-earnings ratio of 27.65 and a beta of 0.80.

MGE Energy (NASDAQ:MGEE - Get Free Report) last issued its earnings results on Wednesday, May 7th. The utilities provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.98 by $0.16. MGE Energy had a net margin of 17.70% and a return on equity of 10.18%. The business had revenue of $218.97 million for the quarter, compared to analysts' expectations of $202.42 million. As a group, analysts predict that MGE Energy, Inc. will post 3.43 EPS for the current year.

MGE Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, June 15th. Shareholders of record on Sunday, June 1st will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.80 dividend on an annualized basis and a yield of 1.99%. MGE Energy's payout ratio is 50.85%.

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.