Victory Capital Management Inc. Trims Holdings in MGE Energy, Inc. (NASDAQ:MGEE)

Victory Capital Management Inc. decreased its holdings in MGE Energy, Inc. (NASDAQ:MGEE - Free Report) by 8.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,250,930 shares of the utilities provider's stock after selling 109,722 shares during the quarter. Victory Capital Management Inc. owned 3.46% of MGE Energy worth $114,398,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. GSA Capital Partners LLP purchased a new stake in shares of MGE Energy in the third quarter valued at approximately $584,000. Crossmark Global Holdings Inc. acquired a new stake in MGE Energy in the 3rd quarter valued at $290,000. Covestor Ltd raised its position in MGE Energy by 37.3% during the third quarter. Covestor Ltd now owns 453 shares of the utilities provider's stock worth $42,000 after acquiring an additional 123 shares during the period. Assetmark Inc. purchased a new position in MGE Energy during the third quarter valued at $35,000. Finally, Van ECK Associates Corp grew its position in shares of MGE Energy by 7.3% in the third quarter. Van ECK Associates Corp now owns 10,020 shares of the utilities provider's stock valued at $916,000 after purchasing an additional 682 shares during the period. Hedge funds and other institutional investors own 52.58% of the company's stock.

Analysts Set New Price Targets

Separately, Morgan Stanley upped their price target on shares of MGE Energy from $71.00 to $74.00 and gave the stock an "underweight" rating in a research report on Wednesday, September 25th.

MGE Energy Price Performance

NASDAQ MGEE traded up $1.29 during mid-day trading on Wednesday, hitting $108.16. The stock had a trading volume of 153,744 shares, compared to its average volume of 215,605. The firm's 50 day moving average is $91.99 and its 200 day moving average is $84.92. 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 stock has a market capitalization of $3.92 billion, a price-to-earnings ratio of 33.08 and a beta of 0.71. MGE Energy, Inc. has a twelve month low of $61.94 and a twelve month high of $109.22.

MGE Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be paid a dividend of $0.45 per share. The ex-dividend date is Friday, November 29th. This represents a $1.80 annualized dividend and a yield of 1.66%. MGE Energy's dividend payout ratio is presently 55.05%.

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.