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

Victory Capital Management Inc. decreased its position in shares of MGE Energy, Inc. (NASDAQ:MGEE) by 5.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,360,652 shares of the utilities provider’s stock after selling 82,267 shares during the quarter. Victory Capital Management Inc.’s holdings in MGE Energy were worth $101,668,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Speece Thorson Capital Group Inc. acquired a new position in MGE Energy during the fourth quarter worth approximately $6,145,000. Comerica Bank grew its position in MGE Energy by 11,187.2% during the 1st quarter. Comerica Bank now owns 15,012 shares of the utilities provider’s stock worth $1,182,000 after purchasing an additional 14,879 shares during the last quarter. New York State Teachers Retirement System purchased a new stake in shares of MGE Energy in the first quarter valued at about $934,000. Quadrature Capital Ltd grew its holdings in shares of MGE Energy by 122.1% during the fourth quarter. Quadrature Capital Ltd now owns 21,484 shares of the utilities provider’s stock worth $1,554,000 after buying an additional 11,809 shares during the last quarter. Finally, Edgestream Partners L.P. acquired a new stake in MGE Energy during the 1st quarter worth approximately $1,178,000. Institutional investors and hedge funds own 52.58% of the company’s stock.

Analysts Set New Price Targets

MGEE has been the topic of a number of analyst reports. StockNews.com upgraded shares of MGE Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, May 29th. Morgan Stanley boosted their target price on MGE Energy from $66.00 to $71.00 and gave the stock an “underweight” rating in a research report on Friday, August 23rd.

MGE Energy Price Performance

Shares of NASDAQ MGEE opened at $86.40 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.90 and a current ratio of 1.32. MGE Energy, Inc. has a one year low of $61.94 and a one year high of $90.00. The firm has a market capitalization of $3.13 billion, a P/E ratio of 26.02 and a beta of 0.70. The company’s fifty day moving average is $83.79 and its two-hundred day moving average is $79.06.

MGE Energy (NASDAQ:MGEE) last announced its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.66 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.29). MGE Energy had a net margin of 17.45% and a return on equity of 10.04%. The company had revenue of $145.71 million during the quarter, compared to analyst estimates of $151.29 million. Analysts forecast that MGE Energy, Inc. will post 3.69 EPS for the current fiscal year.

MGE Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, September 15th. Stockholders of record on Sunday, September 1st will be paid a dividend of $0.45 per share. This is a positive change from MGE Energy’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.80 annualized dividend and a dividend yield of 2.08%. MGE Energy’s payout ratio is 54.22%.

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.