MGE Energy, Inc. (NASDAQ:MGEE) Shares Sold by Foundry Partners LLC

Foundry Partners LLC trimmed its stake in shares of MGE Energy, Inc. (NASDAQ:MGEE) by 3.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,529 shares of the utilities provider’s stock after selling 182 shares during the period. Foundry Partners LLC’s holdings in MGE Energy were worth $426,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Versant Capital Management Inc raised its stake in MGE Energy by 367.1% during 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 valued at $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% during the fourth 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 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 worth $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 period. Institutional investors and hedge funds own 52.58% of the company’s stock.

MGE Energy Stock Down 3.2 %

Shares of MGE Energy stock opened at $89.01 on Friday. The stock has a 50-day simple moving average of $91.08 and a 200-day simple moving average of $93.69. MGE Energy, Inc. has a 52-week low of $72.27 and a 52-week high of $109.22. The firm has a market cap of $3.25 billion, a price-to-earnings ratio of 27.22 and a beta of 0.72. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.41 and a quick ratio of 0.94.

MGE Energy (NASDAQ:MGEE) last posted its earnings results on Tuesday, February 25th. The utilities provider reported $0.61 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.23). MGE Energy had a return on equity of 10.18% and a net margin of 17.70%. The business had revenue of $171.42 million during the quarter. On average, equities research analysts expect that MGE Energy, Inc. will post 3.43 earnings per share for the current fiscal year.

MGE Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were given a $0.45 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.02%. MGE Energy’s dividend payout ratio is currently 54.05%.

Insider Transactions at MGE Energy

In related news, Director James G. Berbee bought 446 shares of MGE Energy stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average cost of $90.83 per share, for a total transaction of $40,510.18. Following the acquisition, the director now owns 11,532 shares in the company, valued at $1,047,451.56. This trade represents a 4.02 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.19% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. LADENBURG THALM/SH SH raised shares of MGE Energy to a “strong sell” rating in a research report on Monday, March 17th. Morgan Stanley lifted their target price on shares of MGE Energy from $78.00 to $80.00 and gave the company an “underweight” rating in a research note on Thursday, March 20th.

MGE Energy Company 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.