Victory Capital Management Inc. Sells 356,259 Shares of MGE Energy Inc. (NASDAQ:MGEE)

Victory Capital Management Inc. cut its position in shares of MGE Energy Inc. (NASDAQ:MGEE - Free Report) by 30.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 815,459 shares of the utilities provider's stock after selling 356,259 shares during the quarter. Victory Capital Management Inc. owned 2.23% of MGE Energy worth $75,805,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Sterling Capital Management LLC boosted its position in shares of MGE Energy by 656.2% in the fourth quarter. Sterling Capital Management LLC now owns 673 shares of the utilities provider's stock worth $63,000 after buying an additional 584 shares during the period. Focus Partners Wealth acquired a new stake in shares of MGE Energy in the fourth quarter worth $116,000. Farther Finance Advisors LLC boosted its position in MGE Energy by 7,321.7% during the fourth quarter. Farther Finance Advisors LLC now owns 1,707 shares of the utilities provider's stock valued at $160,000 after purchasing an additional 1,684 shares during the last quarter. EnRich Financial Partners LLC boosted its position in MGE Energy by 8.7% during the fourth quarter. EnRich Financial Partners LLC now owns 1,744 shares of the utilities provider's stock valued at $164,000 after purchasing an additional 139 shares during the last quarter. Finally, Michael A. Dubis Financial Planning LLC acquired a new stake in MGE Energy during the fourth quarter valued at $200,000. 52.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MGEE has been the topic of several recent research reports. LADENBURG THALM/SH SH upgraded MGE Energy to a "strong sell" rating in a report on Friday, May 9th. Morgan Stanley reduced 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. Finally, Wall Street Zen upgraded shares of MGE Energy from a "hold" rating to a "buy" rating in a research report on Friday.

MGE Energy Stock Performance

MGEE traded up $0.98 during midday trading on Monday, reaching $86.87. The company had a trading volume of 111,086 shares, compared to its average volume of 137,425. The stock has a market cap of $3.17 billion, a PE ratio of 24.26 and a beta of 0.76. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.49 and a current ratio of 2.07. The business has a 50-day moving average price of $89.11 and a two-hundred day moving average price of $90.17. MGE Energy Inc. has a 12-month low of $82.76 and a 12-month high of $109.22.

MGE Energy (NASDAQ:MGEE - Get Free Report) last posted its earnings results on Wednesday, May 7th. The utilities provider reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.16. The business had revenue of $218.97 million for the quarter, compared to analysts' expectations of $202.42 million. MGE Energy had a net margin of 18.22% and a return on equity of 10.58%. On average, sell-side analysts expect that MGE Energy Inc. will post 3.43 earnings per share for the current fiscal year.

MGE Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, June 15th. Investors of record on Sunday, June 1st were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.80 dividend on an annualized basis and a yield of 2.07%. MGE Energy's dividend payout ratio (DPR) 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.