Bank of New York Mellon Corp reduced its position in shares of MGE Energy, Inc. (NASDAQ:MGEE - Free Report) by 13.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 358,995 shares of the utilities provider's stock after selling 54,978 shares during the quarter. Bank of New York Mellon Corp owned about 0.99% of MGE Energy worth $33,731,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Merit Financial Group LLC lifted its holdings in MGE Energy by 1.7% during the fourth quarter. Merit Financial Group LLC now owns 7,079 shares of the utilities provider's stock worth $665,000 after acquiring an additional 116 shares in the last quarter. Covestor Ltd lifted its holdings in shares of MGE Energy by 37.3% in the third quarter. Covestor Ltd now owns 453 shares of the utilities provider's stock valued at $42,000 after purchasing an additional 123 shares in the last quarter. Savant Capital LLC boosted its position in shares of 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 buying an additional 139 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its position in 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 buying an additional 168 shares during the last quarter. Finally, Choreo LLC raised its position in MGE Energy by 10.8% in the 4th quarter. Choreo LLC now owns 2,526 shares of the utilities provider's stock valued at $238,000 after buying an additional 247 shares during the last quarter. Institutional investors own 52.58% of the company's stock.
MGE Energy Stock Performance
MGEE stock traded up $0.07 during midday trading on Tuesday, reaching $92.47. 142,337 shares of the company were exchanged, compared to its average volume of 190,152. The business has a 50-day moving average price of $90.84 and a two-hundred day moving average price of $93.09. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.41 and a quick ratio of 0.94. The firm has a market capitalization of $3.38 billion, a price-to-earnings ratio of 28.28 and a beta of 0.72. MGE Energy, Inc. has a one year low of $72.27 and a one year high of $109.22.
MGE Energy (NASDAQ:MGEE - Get Free Report) 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). MGE Energy had a net margin of 17.70% and a return on equity of 10.18%. The company had revenue of $171.42 million during the quarter. Equities research analysts forecast that MGE Energy, Inc. will post 3.43 EPS for the current year.
MGE Energy Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend is Friday, February 28th. MGE Energy's dividend payout ratio is currently 54.05%.
Wall Street Analyst Weigh In
Separately, LADENBURG THALM/SH SH upgraded MGE Energy to a "strong sell" rating in a report on Thursday, December 12th.
Check Out Our Latest Research Report on MGE Energy
About MGE Energy
(
Free Report)
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.
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