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

Magellan Asset Management Ltd lessened its position in shares of MGE Energy, Inc. (NASDAQ:MGEE - Free Report) by 20.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 23,095 shares of the utilities provider's stock after selling 5,770 shares during the quarter. Magellan Asset Management Ltd owned about 0.06% of MGE Energy worth $2,170,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Versant Capital Management Inc raised its stake in shares of MGE Energy by 367.1% during the 4th quarter. Versant Capital Management Inc now owns 327 shares of the utilities provider's stock worth $31,000 after buying an additional 257 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of MGE Energy by 88.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 357 shares of the utilities provider's stock worth $34,000 after purchasing an additional 168 shares during the period. Smartleaf Asset Management LLC grew its holdings 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 period. KBC Group NV increased its position in MGE Energy by 32.2% during the fourth quarter. KBC Group NV now owns 1,478 shares of the utilities provider's stock worth $139,000 after purchasing an additional 360 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its position in shares of MGE Energy by 7,321.7% in the 4th quarter. Farther Finance Advisors LLC now owns 1,707 shares of the utilities provider's stock worth $160,000 after buying an additional 1,684 shares during the period. Institutional investors and hedge funds own 52.58% of the company's stock.

MGE Energy Stock Performance

Shares of NASDAQ:MGEE traded up $1.66 during trading on Tuesday, hitting $88.68. 49,471 shares of the company traded hands, compared to its average volume of 144,097. 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 $3.24 billion, a price-to-earnings ratio of 27.17 and a beta of 0.71. MGE Energy, Inc. has a one year low of $72.27 and a one year high of $109.22. The business's fifty day moving average is $91.05 and its 200-day moving average is $93.68.

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 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 business had revenue of $171.42 million for the quarter. As a group, equities analysts predict that MGE Energy, Inc. will post 3.43 earnings per share for the current fiscal year.

MGE Energy Dividend Announcement

The company also recently announced 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. This represents a $1.80 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date was Friday, February 28th. MGE Energy's payout ratio is currently 54.05%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on MGEE shares. 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 note on Thursday, March 20th. LADENBURG THALM/SH SH raised shares of MGE Energy to a "strong sell" rating in a report on Monday, March 17th.

Insider Activity at MGE Energy

In related news, Director James G. Berbee acquired 446 shares of the business's stock in a transaction dated Wednesday, March 12th. The stock was bought at an average price of $90.83 per share, for a total transaction of $40,510.18. Following the transaction, the director now owns 11,532 shares of the company's stock, valued at approximately $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 available through this hyperlink. Company insiders own 0.19% of the company's stock.

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.