MGE Energy (NASDAQ:MGEE) Shares Pass Above 200 Day Moving Average – Should You Sell?

Shares of MGE Energy Inc. (NASDAQ:MGEE) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $78.41 and traded as high as $82.53. MGE Energy shares last traded at $82.17, with a volume of 145,671 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on MGEE shares. Morgan Stanley reaffirmed an “underweight” rating on shares of MGE Energy in a research report on Wednesday, June 24th. LADENBURG THALM/SH SH raised MGE Energy from a “neutral” rating to a “buy” rating and set a $81.00 target price for the company in a research report on Monday, June 8th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of MGE Energy in a research note on Friday, May 8th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $75.50.

MGE Energy Stock Down 0.8%

The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 0.65. The stock has a market cap of $2.96 billion, a P/E ratio of 20.64 and a beta of 0.71. The company’s 50 day moving average price is $77.49 and its two-hundred day moving average price is $78.42.

MGE Energy (NASDAQ:MGEE) last announced its earnings results on Tuesday, May 5th. The utilities provider reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.19. MGE Energy had a net margin of 18.61% and a return on equity of 10.94%. The company had revenue of $242.70 million during the quarter, compared to analyst estimates of $227.06 million. Equities analysts forecast that MGE Energy Inc. will post 3.98 earnings per share for the current year.

MGE Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a dividend of $0.475 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.90 dividend on an annualized basis and a dividend yield of 2.4%. MGE Energy’s payout ratio is presently 48.72%.

Hedge Funds Weigh In On MGE Energy

Institutional investors have recently bought and sold shares of the stock. Deprince Race & Zollo Inc. purchased a new stake in MGE Energy in the 1st quarter worth approximately $21,418,000. Qube Research & Technologies Ltd lifted its holdings in MGE Energy by 167.5% during the third quarter. Qube Research & Technologies Ltd now owns 162,217 shares of the utilities provider’s stock valued at $13,655,000 after purchasing an additional 101,586 shares in the last quarter. Jane Street Group LLC lifted its holdings in MGE Energy by 718.5% during the first quarter. Jane Street Group LLC now owns 75,007 shares of the utilities provider’s stock valued at $6,973,000 after purchasing an additional 65,843 shares in the last quarter. Speece Thorson Capital Group Inc. boosted its position in shares of MGE Energy by 44.3% in the fourth quarter. Speece Thorson Capital Group Inc. now owns 195,596 shares of the utilities provider’s stock worth $15,339,000 after purchasing an additional 60,037 shares during the period. Finally, Two Sigma Investments LP boosted its position in shares of MGE Energy by 181.1% in the third quarter. Two Sigma Investments LP now owns 80,758 shares of the utilities provider’s stock worth $6,798,000 after purchasing an additional 52,031 shares during the period. 52.58% of the stock is owned by institutional investors.

MGE Energy Company Profile

MGE Energy, Inc is a public utility holding company headquartered in Madison, Wisconsin. Through its principal subsidiary, Madison Gas and Electric Company (MGE), the company provides regulated electric and natural gas distribution services to residential, commercial and industrial customers in south-central Wisconsin. MGE Energy’s operations encompass the generation, transmission and distribution of electricity as well as the purchase and distribution of natural gas, with an emphasis on reliable service and system resilience.

Since reorganizing as a holding company in 2001, MGE Energy has expanded its portfolio to include nonregulated subsidiaries involved in renewable energy development, energy services and infrastructure support.