Victory Capital Management Inc. Reduces Stock Holdings in MGE Energy, Inc. (NASDAQ:MGEE)

Victory Capital Management Inc. cut its position in MGE Energy, Inc. (NASDAQ:MGEE) by 8.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,250,930 shares of the utilities provider’s stock after selling 109,722 shares during the period. Victory Capital Management Inc.’s holdings in MGE Energy were worth $114,398,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. GSA Capital Partners LLP bought a new position in MGE Energy in the 3rd quarter worth approximately $584,000. Crossmark Global Holdings Inc. bought a new position in shares of MGE Energy in the third quarter worth $290,000. Covestor Ltd grew its position in shares of MGE Energy by 37.3% in the third quarter. Covestor Ltd now owns 453 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 123 shares in the last quarter. Assetmark Inc. bought a new stake in shares of MGE Energy during the 3rd quarter valued at $35,000. Finally, Van ECK Associates Corp lifted its holdings in MGE Energy by 7.3% during the 3rd quarter. Van ECK Associates Corp now owns 10,020 shares of the utilities provider’s stock worth $916,000 after purchasing an additional 682 shares in the last quarter. Hedge funds and other institutional investors own 52.58% of the company’s stock.

Analysts Set New Price Targets

Separately, Morgan Stanley lifted their target price on MGE Energy from $71.00 to $74.00 and gave the company an “underweight” rating in a report on Wednesday, September 25th.

MGE Energy Stock Performance

NASDAQ MGEE opened at $106.87 on Wednesday. The company’s 50 day simple moving average is $91.56 and its two-hundred day simple moving average is $84.76. 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, Inc. has a 1 year low of $61.94 and a 1 year high of $107.77. The stock has a market capitalization of $3.87 billion, a PE ratio of 32.68 and a beta of 0.71.

MGE Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.68%. The ex-dividend date is Friday, November 29th. MGE Energy’s dividend payout ratio is 55.05%.

About MGE Energy

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.