T. Rowe Price Investment Management Inc. Trims Holdings in MGE Energy Inc. $MGEE

Key Points

• T. Rowe Price Investment Management Inc. reduced its stake in MGE Energy by 4.2%, owning 859,319 shares after selling 37,288 shares in the first quarter.
• Several institutional investors, including GAMMA Investing LLC and Invesco Ltd., made significant changes to their holdings in MGE Energy, with GAMMA increasing its ownership by an impressive 9,697.0%.
• MGE Energy announced a quarterly dividend increase to $0.475 per share, representing an annualized dividend of $1.90 and a yield of 2.2%, which is up from the previous quarterly dividend.

T. Rowe Price Investment Management Inc. lessened its stake in MGE Energy Inc. (NASDAQ:MGEE - Free Report) by 4.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 859,319 shares of the utilities provider's stock after selling 37,288 shares during the quarter. T. Rowe Price Investment Management Inc. owned approximately 2.35% of MGE Energy worth $79,883,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of MGEE. Focus Partners Wealth bought a new stake in shares of MGE Energy in the fourth quarter valued at $116,000. MJT & Associates Financial Advisory Group Inc. bought a new position in MGE Energy in the 1st quarter worth approximately $139,000. Benjamin Edwards Inc. purchased a new position in MGE Energy in the 4th quarter valued at approximately $200,000. Twinbeech Capital LP bought a new stake in MGE Energy during the 4th quarter valued at $209,000. Finally, Occudo Quantitative Strategies LP purchased a new stake in shares of MGE Energy during the fourth quarter worth $211,000. 52.58% of the stock is owned by institutional investors.

MGE Energy Trading Down 0.5%

NASDAQ MGEE traded down $0.48 during trading on Thursday, hitting $87.02. The company had a trading volume of 14,954 shares, compared to its average volume of 147,156. MGE Energy Inc. has a one year low of $82.21 and a one year high of $109.22. The company has a market cap of $3.18 billion, a price-to-earnings ratio of 24.17 and a beta of 0.76. The company's fifty day moving average is $86.54 and its 200-day moving average is $89.20. The company has a current ratio of 1.80, a quick ratio of 1.20 and a debt-to-equity ratio of 0.60.

MGE Energy (NASDAQ:MGEE - Get Free Report) last released its earnings results on Wednesday, August 6th. The utilities provider reported $0.72 EPS for the quarter, missing analysts' consensus estimates of $0.73 by ($0.01). The company had revenue of $159.45 million during the quarter. MGE Energy had a return on equity of 10.58% and a net margin of 18.24%. On average, sell-side analysts predict that MGE Energy Inc. will post 3.43 earnings per share for the current year.

MGE Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 1st will be paid a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a dividend yield of 2.2%. This is a boost from MGE Energy's previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, August 29th. MGE Energy's dividend payout ratio is currently 50.00%.

Insider Activity at MGE Energy

In other news, Director James G. Berbee bought 507 shares of the company's stock in a transaction that occurred on Friday, August 15th. The stock was bought at an average price of $83.83 per share, with a total value of $42,501.81. Following the acquisition, the director owned 6,329 shares of the company's stock, valued at approximately $530,560.07. This represents a 8.71% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.19% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on MGEE shares. Wall Street Zen cut MGE Energy from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Morgan Stanley reiterated an "underweight" rating on shares of MGE Energy in a research note on Thursday, August 21st. Finally, LADENBURG THALM/SH SH upgraded MGE Energy to a "strong sell" rating in a research report on Friday, May 9th. Two investment analysts have rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of "Sell" and an average price target of $74.00.

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.