MGE Energy Inc. (MGEE) – What Are Investment Firms Saying About This Stock?

Shares of MGE Energy Inc. (NASDAQ:MGEE) have earned an average recommendation of “Hold” from the six brokerages that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $79.83.

Several analysts have commented on MGEE shares. Weiss Ratings reissued a “hold (c)” rating on shares of MGE Energy in a report on Tuesday, November 3rd. JPMorgan Chase & Co. began coverage on MGE Energy in a research note on Thursday, October 15th. They set a “neutral” rating and a $76.00 target price for the company. Bank of America assumed coverage on MGE Energy in a research report on Thursday, September 24th. They set a “neutral” rating and a $76.00 target price on the stock. Jefferies Financial Group set a $87.00 target price on MGE Energy in a research report on Thursday. Finally, Morgan Stanley lifted their price target on shares of MGE Energy from $71.00 to $72.00 and gave the company an “underweight” rating in a research note on Wednesday, October 21st.

Hedge Funds Weigh In On MGE Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MGEE. Avalon Trust Co purchased a new stake in shares of MGE Energy during the second quarter worth about $49,000. Highland Investment Advisors LLC acquired a new position in shares of MGE Energy during the 2nd quarter worth about $60,000. Versant Capital Management Inc raised its position in shares of MGE Energy by 60.3% during the 2nd quarter. Versant Capital Management Inc now owns 744 shares of the utilities provider’s stock worth $61,000 after purchasing an additional 280 shares during the last quarter. Johnson Financial Group Inc. purchased a new position in MGE Energy in the 2nd quarter valued at about $76,000. Finally, IFP Advisors Inc lifted its stake in MGE Energy by 41.3% in the 2nd quarter. IFP Advisors Inc now owns 1,308 shares of the utilities provider’s stock valued at $107,000 after buying an additional 382 shares in the last quarter. 52.58% of the stock is owned by hedge funds and other institutional investors.

MGE Energy Stock Performance

MGEE opened at $80.26 on Monday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.09 and a quick ratio of 0.73. The firm has a fifty day moving average price of $73.57 and a 200 day moving average price of $77.52. MGE Energy has a 1 year low of $68.01 and a 1 year high of $85.29. The stock has a market cap of $3.04 billion, a P/E ratio of 18.54, a P/E/G ratio of 4.48 and a beta of 0.68.

MGE Energy (NASDAQ:MGEE) last released its quarterly earnings results on Wednesday, November 4th. The utilities provider reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.30. The company had revenue of $190.40 million during the quarter, compared to analysts’ expectations of $184.59 million. MGE Energy had a return on equity of 11.59% and a net margin of 20.60%. Equities research analysts anticipate that MGE Energy will post 4.02 earnings per share for the current year.

MGE Energy Announces Dividend

The business 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 dividend on an annualized basis and a yield of 2.5%. MGE Energy’s dividend payout ratio is currently 46.88%.

About MGE Energy

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

MGE’s operations include generating and purchasing electricity, delivering power through its electric system, and distributing natural gas. The company also invests in energy-related businesses, including projects that support renewable energy and other power-generation resources.

The company traces its roots to Madison Gas Light Company, established in 1855.