Victory Capital Management Inc. Sells 79,212 Shares of MGE Energy, Inc. (NASDAQ:MGEE)

Victory Capital Management Inc. cut its holdings in shares of MGE Energy, Inc. (NASDAQ:MGEE) by 6.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,171,718 shares of the utilities provider’s stock after selling 79,212 shares during the period. Victory Capital Management Inc.’s holdings in MGE Energy were worth $110,095,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its stake in shares of MGE Energy by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 432,877 shares of the utilities provider’s stock valued at $40,673,000 after purchasing an additional 7,416 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of MGE Energy by 507.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,112 shares of the utilities provider’s stock valued at $105,000 after purchasing an additional 929 shares in the last quarter. US Bancorp DE boosted its stake in shares of MGE Energy by 20.3% during the fourth quarter. US Bancorp DE now owns 39,372 shares of the utilities provider’s stock valued at $3,699,000 after purchasing an additional 6,635 shares in the last quarter. Illinois Municipal Retirement Fund lifted its position in MGE Energy by 6.7% during the fourth quarter. Illinois Municipal Retirement Fund now owns 19,810 shares of the utilities provider’s stock valued at $1,861,000 after acquiring an additional 1,247 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in MGE Energy during the fourth quarter valued at approximately $208,000. 52.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, LADENBURG THALM/SH SH raised shares of MGE Energy to a “strong sell” rating in a research report on Thursday, December 12th.

MGE Energy Trading Down 1.3 %

NASDAQ:MGEE opened at $89.69 on Thursday. MGE Energy, Inc. has a 52 week low of $72.27 and a 52 week high of $109.22. The firm has a 50 day moving average of $91.18 and a 200 day moving average of $93.04. 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 market capitalization of $3.27 billion, a price-to-earnings ratio of 27.43 and a beta of 0.76.

MGE Energy (NASDAQ:MGEE) last posted its earnings results on Tuesday, February 25th. The utilities provider reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.23). MGE Energy had a net margin of 17.70% and a return on equity of 10.18%. The firm had revenue of $171.42 million for the quarter. As a group, sell-side analysts anticipate that MGE Energy, Inc. will post 3.43 earnings per share for the current fiscal year.

MGE Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st will be issued a $0.45 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.01%. MGE Energy’s dividend payout ratio is currently 54.05%.

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.