Jefferies Financial Group Inc. Sells 6,830 Shares of MGE Energy, Inc. (NASDAQ:MGEE)

Jefferies Financial Group Inc. reduced its position in shares of MGE Energy, Inc. (NASDAQ:MGEE - Free Report) by 27.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,170 shares of the utilities provider's stock after selling 6,830 shares during the quarter. Jefferies Financial Group Inc. owned approximately 0.05% of MGE Energy worth $1,707,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sterling Capital Management LLC raised its holdings 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 in the last quarter. Smartleaf Asset Management LLC grew its position in shares of MGE Energy by 507.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,112 shares of the utilities provider's stock worth $105,000 after buying an additional 929 shares during the period. Focus Partners Wealth purchased a new stake in shares of MGE Energy in the 4th quarter worth about $116,000. KBC Group NV grew its position in shares of MGE Energy by 32.2% in the 4th quarter. KBC Group NV now owns 1,478 shares of the utilities provider's stock worth $139,000 after buying an additional 360 shares during the period. Finally, Farther Finance Advisors LLC grew its position 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 buying an additional 1,684 shares during the period. 52.58% of the stock is currently owned by institutional investors.

MGE Energy Stock Down 0.2%

MGEE stock traded down $0.21 during trading on Friday, hitting $90.21. 93,067 shares of the stock traded hands, compared to its average volume of 138,369. MGE Energy, Inc. has a 1 year low of $72.27 and a 1 year high of $109.22. The firm's 50 day moving average is $90.56 and its two-hundred day moving average is $92.88. The stock has a market cap of $3.30 billion, a price-to-earnings ratio of 27.59 and a beta of 0.80. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.41 and a quick ratio of 0.94.

MGE Energy (NASDAQ:MGEE - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The utilities provider reported $1.14 EPS for the quarter, beating the consensus estimate of $0.98 by $0.16. MGE Energy had a net margin of 17.70% and a return on equity of 10.18%. The company had revenue of $218.97 million for the quarter, compared to the consensus estimate of $202.42 million. On average, sell-side analysts anticipate that MGE Energy, Inc. will post 3.43 EPS for the current year.

MGE Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 15th. Shareholders of record on Sunday, June 1st will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Friday, May 30th. MGE Energy's dividend payout ratio is currently 50.85%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Morgan Stanley reduced their target price on shares of MGE Energy from $75.00 to $74.00 and set an "underweight" rating on the stock in a research report on Thursday, May 22nd. LADENBURG THALM/SH SH raised shares of MGE Energy to a "strong sell" rating in a research report on Friday, May 9th.

Insider Buying and Selling at MGE Energy

In related news, Director James G. Berbee bought 446 shares of the stock in a transaction on Wednesday, March 12th. The shares were acquired at an average price of $90.83 per share, for a total transaction of $40,510.18. Following the purchase, the director now owns 11,532 shares of the company's stock, valued at approximately $1,047,451.56. The trade was a 4.02% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.19% of the company's stock.

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.