MGE Energy, Inc. (NASDAQ:MGEE) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets cut its holdings in shares of MGE Energy, Inc. (NASDAQ:MGEE - Free Report) by 55.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. 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 filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of MGEE. Sterling Capital Management LLC grew its holdings in shares of MGE Energy by 656.2% during 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 period. Smartleaf Asset Management LLC raised its position in shares of MGE Energy by 507.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,112 shares of the utilities provider's stock worth $105,000 after acquiring an additional 929 shares in the last quarter. KBC Group NV raised its position in shares of MGE Energy by 32.2% during the 4th quarter. KBC Group NV now owns 1,478 shares of the utilities provider's stock worth $139,000 after acquiring an additional 360 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of MGE Energy by 7,321.7% during the 4th quarter. Farther Finance Advisors LLC now owns 1,707 shares of the utilities provider's stock worth $160,000 after acquiring an additional 1,684 shares in the last quarter. Finally, EnRich Financial Partners LLC raised its position 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 acquiring an additional 139 shares in the last quarter. 52.58% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director James G. Berbee bought 446 shares of the firm's stock in a transaction on Wednesday, March 12th. The shares were bought at an average cost of $90.83 per share, for a total transaction of $40,510.18. Following the completion of the transaction, the director now owns 11,532 shares in the company, valued at $1,047,451.56. This trade represents a 4.02% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.19% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

MGE Energy Stock Performance

Shares of MGEE stock traded down $1.19 during midday trading on Wednesday, hitting $89.62. The company had a trading volume of 25,651 shares, compared to its average volume of 138,465. The company's 50 day simple moving average is $90.63 and its 200 day simple moving average is $93.32. MGE Energy, Inc. has a 52-week low of $72.27 and a 52-week high of $109.22. The stock has a market cap of $3.27 billion, a price-to-earnings ratio of 27.43 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 posted 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. The firm had revenue of $218.97 million for the quarter, compared to the consensus estimate of $202.42 million. MGE Energy had a return on equity of 10.18% and a net margin of 17.70%. Research analysts anticipate that MGE Energy, Inc. will post 3.43 earnings per share for the current fiscal year.

MGE Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 15th. Shareholders of record on Sunday, June 1st will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.80 dividend on an annualized basis and a yield of 2.01%. MGE Energy's payout ratio 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.