MGE Energy (NASDAQ:MGEE) Upgraded by StockNews.com to Hold

StockNews.com upgraded shares of MGE Energy (NASDAQ:MGEE) from a sell rating to a hold rating in a report published on Monday morning.

Separately, TheStreet cut MGE Energy from a b rating to a c+ rating in a report on Tuesday, January 30th.

MGE Energy Trading Down 2.5 %

Shares of MGEE opened at $78.33 on Monday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.09 and a current ratio of 1.59. MGE Energy has a fifty-two week low of $61.94 and a fifty-two week high of $83.27. The firm has a 50 day moving average price of $78.27 and a 200-day moving average price of $73.35. The firm has a market cap of $2.83 billion, a price-to-earnings ratio of 23.59 and a beta of 0.72.

MGE Energy (NASDAQ:MGEE) last posted its quarterly earnings results on Wednesday, February 21st. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.06). MGE Energy had a net margin of 18.12% and a return on equity of 10.60%. The business had revenue of $164.65 million for the quarter, compared to analysts’ expectations of $190.55 million. As a group, equities research analysts forecast that MGE Energy will post 3.69 earnings per share for the current year.

MGE Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 15th. Shareholders of record on Saturday, June 1st will be given a $0.428 dividend. This represents a $1.71 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend is Friday, May 31st. MGE Energy’s payout ratio is 51.51%.

Insider Activity

In other MGE Energy news, Director James G. Berbee bought 458 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were bought at an average cost of $82.16 per share, with a total value of $37,629.28. Following the completion of the purchase, the director now directly owns 9,725 shares of the company’s stock, valued at $799,006. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On MGE Energy

Several institutional investors and hedge funds have recently modified their holdings of the stock. Security National Bank bought a new position in MGE Energy in the fourth quarter worth about $43,000. Covestor Ltd grew its holdings in MGE Energy by 31.6% in the third quarter. Covestor Ltd now owns 641 shares of the utilities provider’s stock worth $44,000 after purchasing an additional 154 shares during the period. Quantbot Technologies LP purchased a new position in shares of MGE Energy during the third quarter valued at approximately $47,000. SG Americas Securities LLC purchased a new position in MGE Energy during the first quarter valued at $100,000. Finally, BOKF NA purchased a new position in shares of MGE Energy in the 1st quarter worth about $152,000. 52.58% of the stock is owned by hedge funds and other institutional investors.

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.