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

Bank of New York Mellon Corp lowered its position in MGE Energy Inc. (NASDAQ:MGEE - Free Report) by 3.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 346,127 shares of the utilities provider's stock after selling 12,868 shares during the period. Bank of New York Mellon Corp owned 0.95% of MGE Energy worth $32,176,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Sterling Capital Management LLC raised its position in MGE Energy by 656.2% in the 4th quarter. Sterling Capital Management LLC now owns 673 shares of the utilities provider's stock worth $63,000 after purchasing an additional 584 shares during the last quarter. Focus Partners Wealth bought a new position in MGE Energy in the 4th quarter worth approximately $116,000. Farther Finance Advisors LLC raised its position in 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 last quarter. EnRich Financial Partners LLC raised its position in MGE Energy by 8.7% in 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 last quarter. Finally, Michael A. Dubis Financial Planning LLC bought a new position in MGE Energy in the 4th quarter worth approximately $200,000. Institutional investors own 52.58% of the company's stock.

Wall Street Analysts Forecast Growth

MGEE has been the subject of a number of analyst reports. Morgan Stanley lowered their target price on shares of MGE Energy from $75.00 to $74.00 and set an "underweight" rating for the company in a report on Thursday, May 22nd. Wall Street Zen raised shares of MGE Energy from a "hold" rating to a "buy" rating in a report on Friday. Finally, LADENBURG THALM/SH SH raised shares of MGE Energy to a "strong sell" rating in a report on Friday, May 9th.

MGE Energy Stock Up 0.4%

Shares of MGE Energy stock traded up $0.36 during trading hours on Friday, reaching $85.89. 136,306 shares of the company's stock were exchanged, compared to its average volume of 137,429. The company has a 50 day moving average of $89.11 and a two-hundred day moving average of $90.22. MGE Energy Inc. has a fifty-two week low of $82.76 and a fifty-two week high of $109.22. The company has a current ratio of 2.07, a quick ratio of 1.49 and a debt-to-equity ratio of 0.61. The stock has a market cap of $3.14 billion, a P/E ratio of 24.26 and a beta of 0.76.

MGE Energy (NASDAQ:MGEE - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The utilities provider reported $1.14 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.16. The firm had revenue of $218.97 million for 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%. On average, sell-side analysts forecast that MGE Energy Inc. will post 3.43 EPS for the current fiscal year.

MGE Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, June 15th. Shareholders of record on Sunday, June 1st were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend was Friday, May 30th. MGE Energy's dividend payout ratio (DPR) is currently 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.