Walleye Capital LLC Invests $202,000 in MGE Energy, Inc. (NASDAQ:MGEE)

Walleye Capital LLC purchased a new stake in shares of MGE Energy, Inc. (NASDAQ:MGEE) during the 3rd quarter, Holdings Channel reports. The fund purchased 2,204 shares of the utilities provider’s stock, valued at approximately $202,000.

Other large investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its position in 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 worth $38,908,000 after purchasing an additional 8,629 shares during the last quarter. Royce & Associates LP increased its position in MGE Energy by 155.4% in the 3rd quarter. Royce & Associates LP now owns 11,668 shares of the utilities provider’s stock worth $1,067,000 after purchasing an additional 7,099 shares during the last quarter. Susquehanna Fundamental Investments LLC increased its position in MGE Energy by 56.1% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 50,987 shares of the utilities provider’s stock worth $3,810,000 after purchasing an additional 18,315 shares during the last quarter. GSA Capital Partners LLP acquired a new position in MGE Energy in the 3rd quarter worth about $584,000. Finally, International Assets Investment Management LLC increased its position 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 worth $1,990,000 after purchasing an additional 21,521 shares during the last quarter. 52.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley upped their target price on 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 opened at $101.28 on Thursday. The company has a market cap of $3.67 billion, a PE ratio of 30.97 and a beta of 0.74. The stock has a 50-day moving average of $97.32 and a 200-day moving average of $88.15. MGE Energy, Inc. has a 52-week low of $61.94 and a 52-week high of $109.22. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.94 and a current ratio of 1.41.

MGE Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be paid a dividend of $0.45 per share. The ex-dividend date is Friday, November 29th. This represents a $1.80 annualized dividend and a dividend yield of 1.78%. MGE Energy’s dividend payout ratio (DPR) is presently 55.05%.

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.