Bank of New York Mellon Corp Sells 12,868 Shares of MGE Energy Inc. (NASDAQ:MGEE)

Bank of New York Mellon Corp reduced its holdings in shares of MGE Energy Inc. (NASDAQ:MGEE - Free Report) by 3.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 346,127 shares of the utilities provider's stock after selling 12,868 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.95% of MGE Energy worth $32,176,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Sterling Capital Management LLC grew its position in shares of MGE Energy by 656.2% in the fourth quarter. Sterling Capital Management LLC now owns 673 shares of the utilities provider's stock valued at $63,000 after purchasing an additional 584 shares during the period. Focus Partners Wealth purchased a new stake in MGE Energy during the fourth quarter valued at about $116,000. Farther Finance Advisors LLC raised its holdings in shares of MGE Energy by 7,321.7% in the 4th quarter. Farther Finance Advisors LLC now owns 1,707 shares of the utilities provider's stock worth $160,000 after purchasing an additional 1,684 shares during the period. EnRich Financial Partners LLC grew its holdings in shares of MGE Energy by 8.7% during the 4th quarter. EnRich Financial Partners LLC now owns 1,744 shares of the utilities provider's stock worth $164,000 after purchasing an additional 139 shares during the period. Finally, Michael A. Dubis Financial Planning LLC purchased a new position in MGE Energy in the fourth quarter valued at approximately $200,000. Hedge funds and other institutional investors own 52.58% of the company's stock.

Wall Street Analysts Forecast Growth

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

MGE Energy Stock Performance

MGEE stock traded down $0.51 during mid-day trading on Thursday, reaching $85.31. 88,133 shares of the stock traded hands, compared to its average volume of 149,011. The company has a quick ratio of 1.49, a current ratio of 2.07 and a debt-to-equity ratio of 0.61. The business has a 50-day moving average of $89.31 and a two-hundred day moving average of $90.33. The firm has a market capitalization of $3.12 billion, a PE ratio of 24.10 and a beta of 0.76. MGE Energy Inc. has a 52 week low of $82.75 and a 52 week high of $109.22.

MGE Energy (NASDAQ:MGEE - Get Free Report) last released its earnings results on Wednesday, May 7th. The utilities provider reported $1.14 EPS for the quarter, beating the consensus estimate of $0.98 by $0.16. The firm had revenue of $218.97 million during the quarter, compared to analysts' expectations of $202.42 million. MGE Energy had a net margin of 18.22% and a return on equity of 10.58%. As a group, equities analysts predict that MGE Energy Inc. will post 3.43 EPS for the current fiscal year.

MGE Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date was Friday, May 30th. MGE Energy's dividend payout ratio is 50.85%.

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.