Victory Capital Management Inc. Boosts Stake in MGE Energy, Inc. (MGEE)

Victory Capital Management Inc. lifted its position in MGE Energy, Inc. (NASDAQ:MGEE) by 1.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 664,708 shares of the utilities provider’s stock after buying an additional 8,011 shares during the quarter. Victory Capital Management Inc.’s holdings in MGE Energy were worth $42,441,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Landaas & Co. WI ADV bought a new stake in shares of MGE Energy in the 2nd quarter worth $151,000. Associated Banc Corp acquired a new stake in shares of MGE Energy during the second quarter worth $225,000. Huntington National Bank raised its position in shares of MGE Energy by 459.4% during the second quarter. Huntington National Bank now owns 3,776 shares of the utilities provider’s stock worth $238,000 after purchasing an additional 3,101 shares during the period. Baird Financial Group Inc. acquired a new stake in shares of MGE Energy during the second quarter worth $255,000. Finally, Macquarie Group Ltd. raised its position in shares of MGE Energy by 50.9% during the second quarter. Macquarie Group Ltd. now owns 8,600 shares of the utilities provider’s stock worth $542,000 after purchasing an additional 2,900 shares during the period. 40.23% of the stock is currently owned by institutional investors.

Separately, BidaskClub lowered MGE Energy from a “buy” rating to a “hold” rating in a research report on Thursday, July 26th.

Shares of MGE Energy stock opened at $62.87 on Friday. The firm has a market cap of $2.19 billion, a PE ratio of 26.17 and a beta of 0.20. The company has a current ratio of 2.85, a quick ratio of 1.69 and a debt-to-equity ratio of 0.61. MGE Energy, Inc. has a 12-month low of $51.05 and a 12-month high of $68.05.

MGE Energy (NASDAQ:MGEE) last announced its earnings results on Tuesday, November 6th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter. The company had revenue of $137.80 million for the quarter. MGE Energy had a return on equity of 10.54% and a net margin of 18.57%.

The business also recently announced a quarterly dividend, which will be paid on Saturday, December 15th. Stockholders of record on Saturday, December 1st will be given a dividend of $0.3375 per share. This represents a $1.35 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend is Thursday, November 29th.

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MGE Energy Company Profile

MGE Energy, Inc, through its subsidiaries, operates as a public utility holding company primarily in Wisconsin. It operates through five segments: Regulated Electric Utility Operations; Regulated Gas Utility Operations; Nonregulated Energy Operations; Transmission Investments; and All Other. The company generates, purchases, and distributes electricity; owns or leases electric generation facilities located in Wisconsin and Iowa; and plans, constructs, operates, maintains, and expands transmission facilities to provide transmission services.

Further Reading: Asset Allocation, Balancing Your Investments

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Institutional Ownership by Quarter for MGE Energy (NASDAQ:MGEE)

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