MGE Energy Inc. (MGEE) Receives Average Rating of “Hold” from Analysts
Shares of MGE Energy Inc. (NASDAQ:MGEE) have been assigned a consensus broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation.
Zacks has also assigned MGE Energy an industry rank of 159 out of 265 based on the ratings given to related companies.
MGEE has been the topic of several recent research reports. BidaskClub raised MGE Energy from a “hold” rating to a “buy” rating in a report on Saturday, June 17th. Zacks Investment Research raised MGE Energy from a “sell” rating to a “hold” rating in a report on Thursday, September 7th.
In other MGE Energy news, insider Jeffrey M. Keebler bought 547 shares of the business’s stock in a transaction on Tuesday, September 5th. The shares were purchased at an average price of $64.02 per share, with a total value of $35,018.94. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 0.20% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in MGEE. Arrowstreet Capital Limited Partnership bought a new stake in MGE Energy during the 2nd quarter valued at $3,849,000. Prudential Financial Inc. raised its stake in MGE Energy by 85.7% during the 2nd quarter. Prudential Financial Inc. now owns 97,139 shares of the utilities provider’s stock valued at $6,250,000 after acquiring an additional 44,830 shares in the last quarter. State Street Corp raised its stake in MGE Energy by 5.8% during the 2nd quarter. State Street Corp now owns 777,467 shares of the utilities provider’s stock valued at $50,028,000 after acquiring an additional 42,917 shares in the last quarter. Renaissance Technologies LLC raised its stake in MGE Energy by 14.6% during the 2nd quarter. Renaissance Technologies LLC now owns 217,450 shares of the utilities provider’s stock valued at $13,993,000 after acquiring an additional 27,700 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in MGE Energy by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 3,299,739 shares of the utilities provider’s stock valued at $212,339,000 after acquiring an additional 23,911 shares in the last quarter. 37.47% of the stock is currently owned by hedge funds and other institutional investors.
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MGE Energy (MGEE) traded down 1.36% on Tuesday, hitting $65.35. The stock had a trading volume of 80,522 shares. MGE Energy has a one year low of $53.48 and a one year high of $68.70. The stock’s 50 day moving average is $64.79 and its 200 day moving average is $64.69. The stock has a market cap of $2.27 billion, a price-to-earnings ratio of 29.33 and a beta of 0.36.
MGE Energy (NASDAQ:MGEE) last announced its quarterly earnings results on Friday, August 4th. The utilities provider reported $0.45 earnings per share (EPS) for the quarter. The business had revenue of $126.46 million for the quarter. MGE Energy had a return on equity of 10.60% and a net margin of 13.82%. Analysts anticipate that MGE Energy will post $2.30 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were paid a dividend of $0.3225 per share. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $1.29 annualized dividend and a yield of 1.97%. This is an increase from MGE Energy’s previous quarterly dividend of $0.31. MGE Energy’s payout ratio is presently 57.85%.
MGE Energy Company Profile
MGE Energy, Inc (MGE) is a public utility holding company. The Company operates through five segments: Regulated electric utility operations; Regulated gas utility operations; Nonregulated energy operations; Transmission investments, and All other. The Regulated electric utility operations segment is engaged in generating, purchasing and distributing electricity through Madison Gas and Electric Company (MGE).
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