MGE Energy (NASDAQ:MGEE) Stock Price Expected to Rise, Morgan Stanley Analyst Says

MGE Energy (NASDAQ:MGEE) had its target price hoisted by Morgan Stanley from $78.00 to $80.00 in a report published on Thursday morning,Benzinga reports. The brokerage currently has an underweight rating on the utilities provider’s stock.

Separately, LADENBURG THALM/SH SH raised MGE Energy to a “strong sell” rating in a report on Monday.

MGE Energy Trading Up 0.1 %

MGE Energy stock opened at $92.56 on Thursday. The business has a 50 day moving average price of $90.82 and a two-hundred day moving average price of $93.36. 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 $3.38 billion, a price-to-earnings ratio of 28.31 and a beta of 0.72. MGE Energy has a 12 month low of $72.27 and a 12 month high of $109.22.

MGE Energy (NASDAQ:MGEE) last posted its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.61 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.23). The firm had revenue of $171.42 million during the quarter. MGE Energy had a net margin of 17.70% and a return on equity of 10.18%. As a group, equities analysts forecast that MGE Energy will post 3.43 EPS for the current year.

MGE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st were issued a $0.45 dividend. The ex-dividend date was Friday, February 28th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.94%. MGE Energy’s payout ratio is presently 54.05%.

Insider Transactions at MGE Energy

In related news, Director James G. Berbee bought 446 shares of the company’s stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average cost of $90.83 per share, with a total value of $40,510.18. Following the acquisition, the director now owns 11,532 shares in the company, valued at approximately $1,047,451.56. This represents a 4.02 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.19% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MGE Energy

Hedge funds have recently modified their holdings of the stock. Alpine Global Management LLC acquired a new stake in MGE Energy during the 4th quarter valued at $797,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in MGE Energy by 0.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 72,893 shares of the utilities provider’s stock valued at $6,849,000 after purchasing an additional 567 shares in the last quarter. Vident Advisory LLC increased its holdings in MGE Energy by 4.9% during the 4th quarter. Vident Advisory LLC now owns 8,309 shares of the utilities provider’s stock valued at $781,000 after purchasing an additional 389 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in MGE Energy during the 4th quarter valued at $1,303,000. Finally, Twinbeech Capital LP acquired a new stake in MGE Energy during the 4th quarter valued at $209,000. 52.58% of the stock is owned by institutional investors and hedge funds.

About MGE Energy

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.