Silvercrest Asset Management Group LLC Cuts Holdings in MGE Energy, Inc. (NASDAQ:MGEE)

Silvercrest Asset Management Group LLC lowered its stake in shares of MGE Energy, Inc. (NASDAQ:MGEE - Free Report) by 5.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 329,978 shares of the utilities provider's stock after selling 20,628 shares during the period. Silvercrest Asset Management Group LLC owned 0.91% of MGE Energy worth $31,005,000 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. Merit Financial Group LLC raised its position in shares of MGE Energy by 1.7% during the 4th quarter. Merit Financial Group LLC now owns 7,079 shares of the utilities provider's stock valued at $665,000 after buying an additional 116 shares during the period. Savant Capital LLC increased its stake in MGE Energy by 2.9% during the fourth quarter. Savant Capital LLC now owns 4,922 shares of the utilities provider's stock worth $462,000 after acquiring an additional 139 shares during the last quarter. EnRich Financial Partners LLC raised its position in MGE Energy by 8.7% in 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 period. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of MGE Energy by 88.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 357 shares of the utilities provider's stock valued at $34,000 after purchasing an additional 168 shares during the last quarter. Finally, Summit Investment Advisors Inc. grew its holdings in shares of MGE Energy by 4.7% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,814 shares of the utilities provider's stock worth $358,000 after purchasing an additional 172 shares during the period. Institutional investors and hedge funds own 52.58% of the company's stock.

MGE Energy Trading Down 0.7%

NASDAQ MGEE traded down $0.65 on Thursday, reaching $89.85. The stock had a trading volume of 21,642 shares, compared to its average volume of 139,040. The company has a quick ratio of 0.94, a current ratio of 1.41 and a debt-to-equity ratio of 0.60. The stock has a fifty day moving average price of $90.84 and a two-hundred day moving average price of $93.48. MGE Energy, Inc. has a 12-month low of $72.27 and a 12-month high of $109.22. The firm has a market capitalization of $3.28 billion, a price-to-earnings ratio of 27.48 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 for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $202.42 million. As a group, sell-side analysts forecast that MGE Energy, Inc. will post 3.43 EPS for the current fiscal year.

MGE Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 15th. Shareholders of record on Sunday, June 1st will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.80 dividend on an annualized basis and a yield of 2.00%. MGE Energy's dividend payout ratio (DPR) is presently 50.85%.

Insider Transactions at MGE Energy

In other MGE Energy news, Director James G. Berbee bought 446 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The shares were purchased at an average cost of $90.83 per share, with a total value of $40,510.18. Following the purchase, the director now directly owns 11,532 shares in the company, valued at approximately $1,047,451.56. This represents a 4.02% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.19% of the company's stock.

Analyst Ratings Changes

MGEE has been the topic of several research analyst reports. Morgan Stanley reduced their price objective on shares of MGE Energy from $75.00 to $74.00 and set an "underweight" rating on the stock in a report on Thursday. LADENBURG THALM/SH SH upgraded shares of MGE Energy to a "strong sell" rating in a research report on Friday, May 9th.

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.