MGE Energy, Inc. (NASDAQ:MGEE) Shares Sold by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. cut its holdings in MGE Energy, Inc. (NASDAQ:MGEE) by 66.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,783 shares of the utilities provider’s stock after selling 49,977 shares during the period. Royal London Asset Management Ltd. owned 0.07% of MGE Energy worth $1,864,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Victory Capital Management Inc. grew its holdings in shares of MGE Energy by 5.1% during the 4th quarter. Victory Capital Management Inc. now owns 1,229,511 shares of the utilities provider’s stock worth $88,906,000 after purchasing an additional 60,190 shares during the period. Dimensional Fund Advisors LP increased its position in shares of MGE Energy by 0.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 759,044 shares of the utilities provider’s stock valued at $54,887,000 after acquiring an additional 7,085 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of MGE Energy by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 378,940 shares of the utilities provider’s stock valued at $27,401,000 after acquiring an additional 5,544 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of MGE Energy by 3.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 346,922 shares of the utilities provider’s stock worth $25,086,000 after acquiring an additional 10,822 shares during the last quarter. Finally, Speece Thorson Capital Group Inc. purchased a new position in shares of MGE Energy during the 4th quarter worth approximately $6,145,000. 52.58% of the stock is currently owned by hedge funds and other institutional investors.

MGE Energy Stock Performance

Shares of MGEE stock opened at $76.20 on Monday. The firm has a 50 day moving average of $78.46 and a two-hundred day moving average of $73.81. The stock has a market capitalization of $2.76 billion, a PE ratio of 22.95 and a beta of 0.73. The company has a quick ratio of 1.09, a current ratio of 1.59 and a debt-to-equity ratio of 0.62. MGE Energy, Inc. has a 52 week low of $61.94 and a 52 week high of $83.27.

MGE Energy (NASDAQ:MGEE) last released its earnings results on Wednesday, May 8th. The utilities provider reported $0.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.01). MGE Energy had a net margin of 18.12% and a return on equity of 10.60%. The company had revenue of $191.34 million during the quarter, compared to analysts’ expectations of $221.46 million. On average, research analysts predict that MGE Energy, Inc. will post 3.69 EPS for the current fiscal year.

MGE Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Saturday, June 15th. Investors of record on Saturday, June 1st were paid a dividend of $0.428 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $1.71 dividend on an annualized basis and a dividend yield of 2.25%. MGE Energy’s payout ratio is 51.51%.

Analysts Set New Price Targets

MGEE has been the subject of several research analyst reports. StockNews.com upgraded MGE Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, May 29th. Morgan Stanley raised their target price on MGE Energy from $63.00 to $68.00 and gave the company an “underweight” rating in a report on Tuesday, May 28th.

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.