MGE Energy Inc. (NASDAQ:MGEE) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its position in MGE Energy Inc. (NASDAQ:MGEE - Free Report) by 30.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 815,459 shares of the utilities provider's stock after selling 356,259 shares during the period. Victory Capital Management Inc. owned approximately 2.23% of MGE Energy worth $75,805,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MGEE. Raymond James Financial Inc. acquired a new position in shares of MGE Energy in the fourth quarter worth about $781,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of MGE Energy by 14.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,556 shares of the utilities provider's stock valued at $804,000 after purchasing an additional 1,048 shares in the last quarter. HighTower Advisors LLC boosted its stake in shares of MGE Energy by 3.4% during the 4th quarter. HighTower Advisors LLC now owns 7,266 shares of the utilities provider's stock valued at $683,000 after buying an additional 236 shares during the last quarter. Farther Finance Advisors LLC boosted its stake 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 valued at $160,000 after buying an additional 1,684 shares during the last quarter. Finally, Swiss National Bank grew its position in shares of MGE Energy by 0.7% during the fourth quarter. Swiss National Bank now owns 71,150 shares of the utilities provider's stock worth $6,685,000 after buying an additional 500 shares in the last quarter. 52.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on MGEE shares. LADENBURG THALM/SH SH upgraded shares of MGE Energy to a "strong sell" rating in a research note on Friday, May 9th. Morgan Stanley cut their target price on shares of 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 traded up $0.36 during mid-day trading on Friday, hitting $85.89. The stock had a trading volume of 136,306 shares, compared to its average volume of 137,429. The company has a market cap of $3.14 billion, a PE ratio of 24.26 and a beta of 0.76. The company's fifty day simple moving average is $89.11 and its two-hundred day simple moving average is $90.22. The company has a quick ratio of 1.49, a current ratio of 2.07 and a debt-to-equity ratio of 0.61. MGE Energy Inc. has a fifty-two week low of $82.76 and a fifty-two week high of $109.22.

MGE Energy (NASDAQ:MGEE - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $218.97 million for the quarter, compared to analysts' expectations of $202.42 million. MGE Energy had a return on equity of 10.58% and a net margin of 18.22%. On average, equities analysts expect that MGE Energy Inc. will post 3.43 earnings per share for the current year.

MGE Energy Announces Dividend

The firm also recently disclosed 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. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date was Friday, May 30th. MGE Energy's dividend payout ratio is presently 50.85%.

MGE Energy 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.