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 lowered its position in shares of MGE Energy, Inc. (NASDAQ:MGEE) by 6.3% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor 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 owned about 0.06% of MGE Energy worth $2,079,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Covestor Ltd raised its stake in MGE Energy by 37.3% in the 3rd quarter. Covestor Ltd now owns 453 shares of the utilities provider’s stock worth $42,000 after purchasing an additional 123 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of MGE Energy by 1.6% in the second quarter. Bank of Montreal Can now owns 9,149 shares of the utilities provider’s stock valued at $705,000 after buying an additional 140 shares during the period. Inspire Investing LLC grew its position in MGE Energy by 3.2% during the second quarter. Inspire Investing LLC now owns 4,702 shares of the utilities provider’s stock worth $351,000 after buying an additional 144 shares in the last quarter. Arizona State Retirement System increased its stake in MGE Energy by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 10,126 shares of the utilities provider’s stock worth $757,000 after acquiring an additional 187 shares during the period. Finally, Nisa Investment Advisors LLC raised its holdings in MGE Energy by 9.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,566 shares of the utilities provider’s stock valued at $192,000 after acquiring an additional 212 shares in the last quarter. Institutional investors own 52.58% of the company’s stock.

MGE Energy Stock Performance

NASDAQ MGEE opened at $104.86 on Friday. The firm’s 50 day simple moving average is $92.73 and its 200 day simple moving average is $85.25. The firm has a market capitalization of $3.80 billion, a price-to-earnings ratio of 32.07 and a beta of 0.71. 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 1 year low of $61.94 and a 1 year high of $109.22.

MGE Energy Announces Dividend

The firm 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 $0.45 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.80 annualized dividend and a dividend yield of 1.72%. MGE Energy’s payout ratio is 55.05%.

Analysts Set New Price Targets

Separately, Morgan Stanley increased their target price on MGE Energy from $71.00 to $74.00 and gave the stock an “underweight” rating in a report 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.