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

Victory Capital Management Inc. lifted its position in MGE Energy, Inc. (NASDAQ:MGEE) by 1.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 664,708 shares of the utilities provider’s stock after acquiring an additional 8,011 shares during the quarter. Victory Capital Management Inc. owned 1.92% of MGE Energy worth $42,441,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in MGE Energy by 5.2% during the 2nd quarter. BlackRock Inc. now owns 2,354,371 shares of the utilities provider’s stock valued at $148,442,000 after purchasing an additional 117,069 shares during the period. First Trust Advisors LP boosted its position in MGE Energy by 4.7% during the 3rd quarter. First Trust Advisors LP now owns 385,330 shares of the utilities provider’s stock valued at $24,603,000 after purchasing an additional 17,368 shares during the period. Bank of New York Mellon Corp boosted its position in MGE Energy by 1.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 317,462 shares of the utilities provider’s stock valued at $20,016,000 after purchasing an additional 5,095 shares during the period. Schwab Charles Investment Management Inc. boosted its position in MGE Energy by 6.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 248,573 shares of the utilities provider’s stock valued at $15,673,000 after purchasing an additional 16,055 shares during the period. Finally, Wells Fargo & Company MN boosted its position in MGE Energy by 16.2% during the 2nd quarter. Wells Fargo & Company MN now owns 207,988 shares of the utilities provider’s stock valued at $13,113,000 after purchasing an additional 29,022 shares during the period. Institutional investors and hedge funds own 40.23% of the company’s stock.

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

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

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

Separately, BidaskClub upgraded MGE Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, October 9th.

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About MGE Energy

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.

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

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