GSA Capital Partners LLP Purchases New Holdings in MGE Energy Inc. $MGEE

GSA Capital Partners LLP acquired a new position in MGE Energy Inc. (NASDAQ:MGEE) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 9,316 shares of the utilities provider’s stock, valued at approximately $760,000.

Several other large investors also recently bought and sold shares of MGEE. Hantz Financial Services Inc. lifted its position in shares of MGE Energy by 63.8% in the fourth quarter. Hantz Financial Services Inc. now owns 416 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 162 shares in the last quarter. Advisory Services Network LLC purchased a new stake in shares of MGE Energy during the third quarter worth approximately $40,000. Avalon Trust Co purchased a new stake in shares of MGE Energy during the second quarter worth approximately $49,000. Parallel Advisors LLC increased its position in shares of MGE Energy by 28.6% during the third quarter. Parallel Advisors LLC now owns 714 shares of the utilities provider’s stock worth $60,000 after purchasing an additional 159 shares in the last quarter. Finally, Versant Capital Management Inc raised its stake in MGE Energy by 60.3% in the 2nd quarter. Versant Capital Management Inc now owns 744 shares of the utilities provider’s stock valued at $61,000 after purchasing an additional 280 shares during the last quarter. 52.58% of the stock is currently owned by hedge funds and other institutional investors.

MGE Energy Price Performance

NASDAQ:MGEE opened at $81.24 on Thursday. MGE Energy Inc. has a 52 week low of $72.16 and a 52 week high of $88.01. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $3.07 billion, a P/E ratio of 19.96 and a beta of 0.71. The stock’s fifty day moving average is $80.42 and its two-hundred day moving average is $78.83.

MGE Energy (NASDAQ:MGEE) last announced its earnings results on Wednesday, August 5th. The utilities provider reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.12. MGE Energy had a net margin of 19.45% and a return on equity of 11.10%. The company had revenue of $161.19 million during the quarter, compared to analyst estimates of $166.37 million. Equities analysts expect that MGE Energy Inc. will post 3.99 EPS for the current year.

Analysts Set New Price Targets

MGEE has been the topic of a number of research reports. Weiss Ratings restated a “hold (c)” rating on shares of MGE Energy in a report on Wednesday, August 5th. LADENBURG THALM/SH SH raised shares of MGE Energy from a “neutral” rating to a “buy” rating and set a $81.00 target price for the company in a report on Monday, June 8th. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $76.00 target price on shares of MGE Energy in a research report on Wednesday, July 22nd. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, MGE Energy presently has a consensus rating of “Hold” and a consensus target price of $78.50.

MGE Energy Profile

MGE Energy, Inc is a public utility holding company headquartered in Madison, Wisconsin. Through its principal subsidiary, Madison Gas and Electric Company (MGE), the company provides regulated electric and natural gas distribution services to residential, commercial and industrial customers in south-central Wisconsin. MGE Energy’s operations encompass the generation, transmission and distribution of electricity as well as the purchase and distribution of natural gas, with an emphasis on reliable service and system resilience.

Since reorganizing as a holding company in 2001, MGE Energy has expanded its portfolio to include nonregulated subsidiaries involved in renewable energy development, energy services and infrastructure support.