MGE Energy (NASDAQ:MGEE) Releases Earnings Results, Beats Estimates By $0.30 EPS

MGE Energy (NASDAQ:MGEE) posted its quarterly earnings data on Wednesday. The utilities provider reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.30, FiscalAI reports. The company had revenue of $190.40 million during the quarter, compared to the consensus estimate of $184.59 million. MGE Energy had a net margin of 19.45% and a return on equity of 11.10%.

MGE Energy Stock Performance

MGEE stock traded up $0.34 during trading hours on Thursday, hitting $77.93. 166,501 shares of the stock were exchanged, compared to its average volume of 214,492. MGE Energy has a 12 month low of $68.01 and a 12 month high of $85.29. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $2.94 billion, a P/E ratio of 19.15, a P/E/G ratio of 4.13 and a beta of 0.68. The company has a 50-day simple moving average of $73.55 and a two-hundred day simple moving average of $77.52.

MGE Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be given a dividend of $0.5083 per share. The ex-dividend date is Tuesday, December 1st. This represents a $2.03 annualized dividend and a yield of 2.6%. MGE Energy’s dividend payout ratio (DPR) is presently 49.88%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. JPMorgan Chase & Co. assumed coverage on MGE Energy in a report on Thursday, October 15th. They set a “neutral” rating and a $76.00 target price on the stock. Bank of America started coverage on MGE Energy in a research note on Thursday, September 24th. They issued a “neutral” rating and a $76.00 price target for the company. Wall Street Zen upgraded MGE Energy from a “sell” rating to a “hold” rating in a research note on Saturday, October 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MGE Energy in a research report on Tuesday. Finally, Morgan Stanley upped their price objective on MGE Energy from $71.00 to $72.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 21st. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, MGE Energy currently has a consensus rating of “Hold” and an average target price of $76.25.

MGE Energy News Summary

Here are the key news stories impacting MGE Energy this week:

• Positive Sentiment: MGE Energy earned $1.48 per share, above analyst estimates of roughly $1.16–$1.18 and up from $1.22 a year earlier. Revenue rose to $190.4 million, exceeding the approximately $184.6 million consensus estimate. The earnings and revenue beats are the clearest potential positive catalysts in the recent news. MGE Q3 Earnings and Revenues Top Estimates
• Neutral Sentiment: The company posted a financial presentation on its Investor Relations site on November 5. The announcement, as summarized, does not indicate a new earnings forecast or other material update. MGE Energy Posts Investor Relations Financial Presentation

About MGE Energy

MGE Energy, Inc is a public utility holding company headquartered in Madison, Wisconsin. Its principal subsidiary, Madison Gas and Electric Company (MG&E), provides electric and natural gas service to customers in Madison and surrounding communities in south-central Wisconsin.

MG&E generates, purchases, transmits and distributes electricity, while also distributing natural gas. The company serves residential, commercial and industrial customers and offers related energy services, including programs focused on energy efficiency, electrification and renewable energy.

Madison Gas and Electric traces its history to 1855, and MGE Energy was established as the parent company of the utility in 1999.