Victory Capital Management Inc. Boosts Holdings in MGE Energy, Inc. (NASDAQ:MGEE)

Victory Capital Management Inc. grew its position in shares of MGE Energy, Inc. (NASDAQ:MGEE - Free Report) by 5.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,229,511 shares of the utilities provider's stock after purchasing an additional 60,190 shares during the quarter. Victory Capital Management Inc. owned approximately 3.40% of MGE Energy worth $88,906,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Covestor Ltd raised its position in shares of MGE Energy by 31.6% during the third quarter. Covestor Ltd now owns 641 shares of the utilities provider's stock worth $44,000 after acquiring an additional 154 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of MGE Energy during the third quarter worth about $47,000. Raymond James & Associates bought a new position in shares of MGE Energy during the third quarter worth about $202,000. North Star Asset Management Inc. bought a new position in shares of MGE Energy during the fourth quarter worth about $227,000. Finally, Milestone Investment Advisors LLC bought a new position in shares of MGE Energy during the third quarter worth about $225,000. 52.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MGEE. StockNews.com downgraded MGE Energy from a "hold" rating to a "sell" rating in a research report on Wednesday, April 3rd. TheStreet downgraded MGE Energy from a "b" rating to a "c+" rating in a research report on Tuesday, January 30th.

Insider Buying and Selling at MGE Energy

In other MGE Energy news, Director James G. Berbee acquired 458 shares of the stock in a transaction on Wednesday, March 6th. The shares were purchased at an average price of $82.16 per share, for a total transaction of $37,629.28. Following the completion of the acquisition, the director now owns 9,725 shares in the company, valued at approximately $799,006. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.19% of the company's stock.

MGE Energy Stock Down 0.5 %

NASDAQ:MGEE traded down $0.38 during trading hours on Friday, reaching $79.91. The company had a trading volume of 141,312 shares, compared to its average volume of 164,971. MGE Energy, Inc. has a twelve month low of $61.94 and a twelve month high of $83.27. The company has a quick ratio of 1.05, a current ratio of 1.52 and a debt-to-equity ratio of 0.65. The firm has a market cap of $2.89 billion, a price-to-earnings ratio of 24.59 and a beta of 0.72. The business's 50-day simple moving average is $76.06 and its two-hundred day simple moving average is $72.45.

MGE Energy (NASDAQ:MGEE - Get Free Report) last issued its earnings results on Wednesday, February 21st. The utilities provider reported $0.55 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.06). MGE Energy had a net margin of 17.05% and a return on equity of 10.49%. The firm had revenue of $164.65 million during the quarter, compared to analyst estimates of $190.55 million. On average, equities analysts expect that MGE Energy, Inc. will post 3.69 earnings per share for the current year.

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.