Gabelli Weighs in on MGE Energy Inc.’s FY2020 Earnings (MGEE)
MGE Energy Inc. (NASDAQ:MGEE) – Stock analysts at Gabelli issued their FY2020 EPS estimates for shares of MGE Energy in a research note issued to investors on Monday. Gabelli analyst T. Winter forecasts that the utilities provider will post earnings of $2.50 per share for the year. Gabelli has a “Hold” rating on the stock. Gabelli also issued estimates for MGE Energy’s FY2021 earnings at $2.65 EPS.
Several other equities research analysts have also commented on the stock. Zacks Investment Research raised shares of MGE Energy from a “sell” rating to a “hold” rating in a report on Thursday, September 7th. BidaskClub lowered shares of MGE Energy from a “sell” rating to a “strong sell” rating in a report on Thursday, August 17th.
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Shares of MGE Energy (NASDAQ MGEE) traded up $1.15 during midday trading on Tuesday, reaching $65.35. 50,100 shares of the company traded hands, compared to its average volume of 89,083. The stock has a market cap of $2,225.71, a price-to-earnings ratio of 29.18 and a beta of 0.34. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.47 and a current ratio of 3.02. MGE Energy has a 12 month low of $58.08 and a 12 month high of $68.70.
MGE Energy (NASDAQ:MGEE) last issued its quarterly earnings results on Friday, November 3rd. The utilities provider reported $0.77 EPS for the quarter. The company had revenue of $139.54 million during the quarter. MGE Energy had a net margin of 13.52% and a return on equity of 10.31%.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be issued a $0.3225 dividend. This represents a $1.29 annualized dividend and a yield of 1.97%. The ex-dividend date is Thursday, November 30th. MGE Energy’s payout ratio is presently 58.64%.
In related news, insider Jeffrey M. Keebler purchased 547 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The stock was bought at an average price of $64.02 per share, with a total value of $35,018.94. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.20% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of MGEE. California Public Employees Retirement System boosted its stake in MGE Energy by 5.1% during the 3rd quarter. California Public Employees Retirement System now owns 54,761 shares of the utilities provider’s stock worth $3,538,000 after purchasing an additional 2,661 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in MGE Energy by 6.3% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 207,768 shares of the utilities provider’s stock worth $13,422,000 after purchasing an additional 12,328 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in MGE Energy during the 3rd quarter worth $320,000. Wells Fargo & Company MN boosted its stake in MGE Energy by 82.2% during the 3rd quarter. Wells Fargo & Company MN now owns 132,662 shares of the utilities provider’s stock worth $8,570,000 after purchasing an additional 59,855 shares during the last quarter. Finally, Virginia Retirement Systems ET AL boosted its stake in MGE Energy by 61.6% during the 3rd quarter. Virginia Retirement Systems ET AL now owns 20,200 shares of the utilities provider’s stock worth $1,305,000 after purchasing an additional 7,700 shares during the last quarter. 38.04% of the stock is owned by institutional investors.
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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