MGE Energy, Inc. (NASDAQ:MGEE) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. increased its position in shares of MGE Energy, Inc. (NASDAQ:MGEE) by 5.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,229,511 shares of the utilities provider’s stock after acquiring an additional 60,190 shares during the period. Victory Capital Management Inc. owned about 3.40% of MGE Energy worth $88,906,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Foundry Partners LLC raised its position in MGE Energy by 7.2% in the 4th quarter. Foundry Partners LLC now owns 4,455 shares of the utilities provider’s stock valued at $322,000 after purchasing an additional 300 shares in the last quarter. Alps Advisors Inc. grew its holdings in MGE Energy by 27.5% during the 3rd quarter. Alps Advisors Inc. now owns 5,626 shares of the utilities provider’s stock worth $385,000 after acquiring an additional 1,215 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of MGE Energy by 2,966.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 21,955 shares of the utilities provider’s stock valued at $1,504,000 after purchasing an additional 21,239 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of MGE Energy by 42.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 49,299 shares of the utilities provider’s stock valued at $3,378,000 after purchasing an additional 14,574 shares in the last quarter. Finally, Strs Ohio lifted its position in shares of MGE Energy by 39.4% during the 3rd quarter. Strs Ohio now owns 14,500 shares of the utilities provider’s stock worth $993,000 after purchasing an additional 4,100 shares during the last quarter. 52.58% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director James G. Berbee purchased 458 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was acquired at an average price of $82.16 per share, for a total transaction of $37,629.28. Following the completion of the purchase, the director now directly owns 9,725 shares of the company’s stock, valued at $799,006. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.19% of the stock is owned by company insiders.

MGE Energy Price Performance

Shares of NASDAQ:MGEE opened at $79.91 on Friday. MGE Energy, Inc. has a 12 month low of $61.94 and a 12 month high of $83.27. The firm has a market capitalization of $2.89 billion, a P/E ratio of 24.59 and a beta of 0.72. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.52 and a quick ratio of 1.05. The company’s fifty day moving average price is $76.06 and its 200 day moving average price is $72.44.

MGE Energy (NASDAQ:MGEE) last released its quarterly earnings results on Wednesday, February 21st. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.06). The firm had revenue of $164.65 million for the quarter, compared to analysts’ expectations of $190.55 million. MGE Energy had a return on equity of 10.49% and a net margin of 17.05%. As a group, sell-side analysts predict that MGE Energy, Inc. will post 3.69 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MGEE has been the topic of several recent analyst reports. StockNews.com lowered MGE Energy from a “hold” rating to a “sell” rating in a report on Wednesday, April 3rd. TheStreet cut MGE Energy from a “b” rating to a “c+” rating in a research note on Tuesday, January 30th.

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.