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

Shares of MGE Energy Inc. (NASDAQ:MGEE) have received a consensus rating of “Hold” from the five research firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $76.25.

Several analysts have issued reports on MGEE shares. JPMorgan Chase & Co. began coverage on MGE Energy in a report on Thursday, October 15th. They set a “neutral” rating and a $76.00 price objective on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of MGE Energy in a report on Wednesday, August 5th. Morgan Stanley lifted their target price on shares of MGE Energy from $71.00 to $72.00 and gave the stock an “underweight” rating in a research report on Wednesday. Wall Street Zen upgraded shares of MGE Energy from a “sell” rating to a “hold” rating in a report on Saturday, October 10th. Finally, Bank of America began coverage on shares of MGE Energy in a report on Thursday, September 24th. They set a “neutral” rating and a $76.00 price target on the stock.

MGE Energy Stock Down 0.3%

Shares of MGE Energy stock opened at $72.01 on Thursday. The stock’s fifty day moving average is $74.71 and its 200-day moving average is $77.32. The firm has a market capitalization of $2.72 billion, a PE ratio of 17.69, a price-to-earnings-growth ratio of 4.04 and a beta of 0.69. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.61. MGE Energy has a 12-month low of $68.01 and a 12-month high of $87.94.

MGE Energy (NASDAQ:MGEE) last announced its earnings results on Wednesday, August 5th. The utilities provider reported $0.89 EPS for the quarter, beating the consensus estimate of $0.77 by $0.12. MGE Energy had a return on equity of 11.10% and a net margin of 19.45%. The business had revenue of $161.19 million during the quarter, compared to the consensus estimate of $166.37 million. Equities analysts anticipate that MGE Energy will post 4.01 earnings per share for the current year.

MGE Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be paid a $0.5083 dividend. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $2.03 dividend on an annualized basis and a yield of 2.8%. MGE Energy’s dividend payout ratio (DPR) is currently 49.88%.

Hedge Funds Weigh In On MGE Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in MGEE. Bank of America Corp DE acquired a new position in MGE Energy during the second quarter valued at $6,752,000. Deutsche Bank AG purchased a new stake in MGE Energy in the 2nd quarter worth about $4,160,000. BlackRock Inc. purchased a new stake in MGE Energy in the 2nd quarter worth about $496,897,000. Sei Investments Co. boosted its position in MGE Energy by 193.5% during the 1st quarter. Sei Investments Co. now owns 32,857 shares of the utilities provider’s stock worth $2,540,000 after acquiring an additional 21,663 shares during the period. Finally, The Manufacturers Life Insurance Company purchased a new position in MGE Energy during the 2nd quarter valued at about $1,491,000. 52.58% of the stock is currently owned by hedge funds and other institutional investors.

MGE Energy Company Profile

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.