Nuveen Asset Management LLC Trims Stock Position in MGE Energy, Inc. (NASDAQ:MGEE)

Nuveen Asset Management LLC decreased its position in MGE Energy, Inc. (NASDAQ:MGEE - Free Report) by 7.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 211,486 shares of the utilities provider's stock after selling 15,962 shares during the period. Nuveen Asset Management LLC owned about 0.58% of MGE Energy worth $19,871,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its holdings in MGE Energy by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 769,612 shares of the utilities provider's stock valued at $72,314,000 after purchasing an additional 2,225 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in MGE Energy by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 432,877 shares of the utilities provider's stock valued at $40,673,000 after purchasing an additional 7,416 shares during the last quarter. Northern Trust Corp grew its holdings in MGE Energy by 6.7% in the fourth quarter. Northern Trust Corp now owns 393,127 shares of the utilities provider's stock valued at $36,938,000 after purchasing an additional 24,605 shares during the last quarter. Principal Financial Group Inc. grew its holdings in MGE Energy by 4.1% in the fourth quarter. Principal Financial Group Inc. now owns 191,447 shares of the utilities provider's stock valued at $17,988,000 after purchasing an additional 7,554 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in MGE Energy by 145.0% in the fourth quarter. JPMorgan Chase & Co. now owns 146,008 shares of the utilities provider's stock valued at $13,719,000 after purchasing an additional 86,423 shares during the last quarter. Institutional investors and hedge funds own 52.58% of the company's stock.

Insider Activity

In related news, Director James G. Berbee acquired 446 shares of MGE Energy stock in a transaction dated Wednesday, March 12th. The shares were acquired 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 directly owns 11,532 shares of the company's stock, valued at $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 SEC, which is available through this hyperlink. Company insiders own 0.19% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on MGEE shares. 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 report on Thursday, May 22nd. LADENBURG THALM/SH SH raised MGE Energy to a "strong sell" rating in a report on Friday, May 9th.

MGE Energy Price Performance

Shares of NASDAQ:MGEE traded up $0.37 on Thursday, hitting $89.77. The company had a trading volume of 11,087 shares, compared to its average volume of 138,273. The company has a current ratio of 1.41, a quick ratio of 0.94 and a debt-to-equity ratio of 0.60. MGE Energy, Inc. has a 52-week low of $72.27 and a 52-week high of $109.22. The business has a 50 day moving average of $90.59 and a 200 day moving average of $93.30. The company has a market cap of $3.28 billion, a PE ratio of 27.45 and a beta of 0.80.

MGE Energy (NASDAQ:MGEE - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The utilities provider reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate 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. As a group, equities analysts anticipate that MGE Energy, Inc. will post 3.43 earnings per share for the current fiscal year.

MGE Energy Announces Dividend

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