BNP Paribas Financial Markets Sells 6,530 Shares of MGE Energy, Inc. (NASDAQ:MGEE)

BNP Paribas Financial Markets lowered its stake in shares of MGE Energy, Inc. (NASDAQ:MGEE - Free Report) by 55.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,308 shares of the utilities provider's stock after selling 6,530 shares during the quarter. BNP Paribas Financial Markets' holdings in MGE Energy were worth $499,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Barclays PLC increased its holdings in MGE Energy by 345.8% in the 3rd quarter. Barclays PLC now owns 62,308 shares of the utilities provider's stock worth $5,697,000 after acquiring an additional 48,330 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in shares of MGE Energy by 4.3% during the 4th quarter. Exchange Traded Concepts LLC now owns 20,471 shares of the utilities provider's stock valued at $1,923,000 after buying an additional 835 shares in the last quarter. Blue Trust Inc. boosted its holdings in MGE Energy by 66.8% in the 4th quarter. Blue Trust Inc. now owns 4,306 shares of the utilities provider's stock worth $394,000 after buying an additional 1,725 shares during the period. KBC Group NV grew its stake in MGE Energy by 32.2% in the 4th quarter. KBC Group NV now owns 1,478 shares of the utilities provider's stock valued at $139,000 after buying an additional 360 shares in the last quarter. Finally, Choreo LLC raised its holdings in MGE Energy by 10.8% during the 4th quarter. Choreo LLC now owns 2,526 shares of the utilities provider's stock valued at $238,000 after acquiring an additional 247 shares during the period. Hedge funds and other institutional investors own 52.58% of the company's stock.

Insider Activity at MGE Energy

In other MGE Energy news, Director James G. Berbee acquired 446 shares of the business's stock in a transaction dated Wednesday, March 12th. The shares were purchased at an average cost of $90.83 per share, for a total transaction of $40,510.18. Following the transaction, the director now owns 11,532 shares in the company, valued at $1,047,451.56. This represents a 4.02% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.19% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have commented on the company. Morgan Stanley cut their target price on MGE Energy from $75.00 to $74.00 and set an "underweight" rating for the company in a research note on Thursday, May 22nd. LADENBURG THALM/SH SH upgraded shares of MGE Energy to a "strong sell" rating in a research report on Friday, May 9th.

MGE Energy Price Performance

MGEE stock traded up $0.55 during midday trading on Thursday, reaching $89.95. The company had a trading volume of 9,087 shares, compared to its average volume of 141,503. The firm has a 50-day moving average price of $90.59 and a 200-day moving average price of $93.30. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.41 and a quick ratio of 0.94. The company has a market capitalization of $3.29 billion, a P/E ratio of 27.51 and a beta of 0.80. MGE Energy, Inc. has a 1 year low of $72.27 and a 1 year high of $109.22.

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 analysts' consensus estimates of $0.98 by $0.16. MGE Energy had a return on equity of 10.18% and a net margin of 17.70%. The business had revenue of $218.97 million for the quarter, compared to the consensus estimate of $202.42 million. On average, research analysts anticipate that MGE Energy, Inc. will post 3.43 earnings per share for the current fiscal year.

MGE Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.00%. MGE Energy's dividend payout ratio (DPR) is 50.85%.

MGE Energy Company 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.