Magellan Asset Management Ltd Has $2.17 Million Holdings in MGE Energy, Inc. (NASDAQ:MGEE)

Magellan Asset Management Ltd trimmed its stake in shares of MGE Energy, Inc. (NASDAQ:MGEE) by 20.0% during the fourth quarter, HoldingsChannel reports. The fund owned 23,095 shares of the utilities provider’s stock after selling 5,770 shares during the period. Magellan Asset Management Ltd’s holdings in MGE Energy were worth $2,170,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Versant Capital Management Inc raised its stake in shares of MGE Energy by 367.1% in the 4th quarter. Versant Capital Management Inc now owns 327 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 257 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of MGE Energy by 88.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 357 shares of the utilities provider’s stock worth $34,000 after buying an additional 168 shares in the last quarter. Smartleaf Asset Management LLC raised its position in MGE Energy by 507.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,112 shares of the utilities provider’s stock valued at $105,000 after buying an additional 929 shares during the last quarter. KBC Group NV lifted its stake in MGE Energy by 32.2% in the 4th quarter. KBC Group NV now owns 1,478 shares of the utilities provider’s stock valued at $139,000 after acquiring an additional 360 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its position in 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 worth $160,000 after acquiring an additional 1,684 shares during the last quarter. 52.58% of the stock is owned by institutional investors.

Insider Activity at MGE Energy

In other MGE Energy news, Director James G. Berbee purchased 446 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were acquired at an average cost of $90.83 per share, with a total value of $40,510.18. Following the completion of the transaction, the director now owns 11,532 shares in the company, valued at $1,047,451.56. The trade was a 4.02 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.19% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

MGEE has been the topic of a number of research reports. Morgan Stanley boosted their price objective on shares of MGE Energy from $78.00 to $80.00 and gave the stock an “underweight” rating in a research report on Thursday, March 20th. LADENBURG THALM/SH SH raised shares of MGE Energy to a “strong sell” rating in a research report on Monday, March 17th.

MGE Energy Stock Up 0.2 %

Shares of MGEE stock opened at $93.07 on Thursday. The firm’s 50-day moving average is $90.92 and its 200-day moving average is $93.71. The stock has a market cap of $3.40 billion, a price-to-earnings ratio of 28.46 and a beta of 0.72. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.94 and a current ratio of 1.41. MGE Energy, Inc. has a 52-week low of $72.27 and a 52-week high of $109.22.

MGE Energy (NASDAQ:MGEE) last released its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.61 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.23). The company had revenue of $171.42 million during the quarter. MGE Energy had a net margin of 17.70% and a return on equity of 10.18%. Sell-side analysts predict that MGE Energy, Inc. will post 3.43 EPS for the current year.

MGE Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Saturday, March 1st were issued a dividend of $0.45 per share. The ex-dividend date was Friday, February 28th. This represents a $1.80 annualized dividend and a yield of 1.93%. MGE Energy’s payout ratio is currently 54.05%.

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.