MGE Energy (NASDAQ:MGEE) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

MGE Energy, Inc. (NASDAQ:MGEE) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $91.07 and traded as high as $93.98. MGE Energy shares last traded at $93.85, with a volume of 112,228 shares.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Morgan Stanley increased their price target on MGE Energy from $71.00 to $74.00 and gave the company an “underweight” rating in a research report on Wednesday, September 25th. LADENBURG THALM/SH SH raised shares of MGE Energy to a “strong sell” rating in a report on Thursday, December 12th.

MGE Energy Stock Down 0.1 %

The company has a quick ratio of 0.94, a current ratio of 1.41 and a debt-to-equity ratio of 0.60. The stock has a market cap of $3.40 billion, a PE ratio of 28.69 and a beta of 0.76. The firm has a fifty day moving average of $98.28 and a 200 day moving average of $91.21.

MGE Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.92%. MGE Energy’s payout ratio is currently 55.05%.

Institutional Investors Weigh In On MGE Energy

Several hedge funds and other institutional investors have recently made changes to their positions in MGEE. Merit Financial Group LLC increased its stake in MGE Energy by 1.7% in the fourth quarter. Merit Financial Group LLC now owns 7,079 shares of the utilities provider’s stock valued at $665,000 after purchasing an additional 116 shares during the last quarter. Covestor Ltd lifted its position in 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 acquiring an additional 123 shares during the last quarter. Bank of Montreal Can lifted its position in MGE Energy by 1.6% in the second quarter. Bank of Montreal Can now owns 9,149 shares of the utilities provider’s stock valued at $705,000 after acquiring an additional 140 shares during the last quarter. Inspire Investing LLC boosted its stake in MGE Energy by 3.2% in the second quarter. Inspire Investing LLC now owns 4,702 shares of the utilities provider’s stock valued at $351,000 after acquiring an additional 144 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of MGE Energy by 88.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 357 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 168 shares during the last quarter. Institutional investors and hedge funds own 52.58% of the company’s stock.

MGE Energy Company Profile

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.