MGE Energy (NASDAQ:MGEE) Releases Quarterly Earnings Results, Misses Estimates By $0.02 EPS

MGE Energy (NASDAQ:MGEE) issued its quarterly earnings data on Tuesday. The utilities provider reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02), FiscalAI reports. MGE Energy had a return on equity of 10.65% and a net margin of 18.55%.The firm had revenue of $189.55 million for the quarter.

MGE Energy Stock Performance

NASDAQ MGEE traded up $1.06 on Tuesday, reaching $82.56. 129,237 shares of the stock were exchanged, compared to its average volume of 116,987. The company’s 50-day simple moving average is $79.52 and its two-hundred day simple moving average is $82.14. MGE Energy has a one year low of $76.47 and a one year high of $95.00. The firm has a market capitalization of $3.02 billion, a PE ratio of 22.37 and a beta of 0.82. The company has a current ratio of 0.91, a quick ratio of 0.59 and a debt-to-equity ratio of 0.57.

MGE Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, March 15th. Stockholders of record on Sunday, March 1st will be paid a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Friday, February 27th. MGE Energy’s dividend payout ratio (DPR) is currently 51.49%.

Institutional Investors Weigh In On MGE Energy

A number of institutional investors and hedge funds have recently modified their holdings of MGEE. Advisory Services Network LLC purchased a new position in shares of MGE Energy during the third quarter valued at $40,000. Parallel Advisors LLC grew its stake in shares of MGE Energy by 28.6% during the third quarter. Parallel Advisors LLC now owns 714 shares of the utilities provider’s stock worth $60,000 after acquiring an additional 159 shares during the last quarter. UMB Bank n.a. grew its holdings in shares of MGE Energy by 807.2% during the fourth quarter. UMB Bank n.a. now owns 1,261 shares of the utilities provider’s stock valued at $99,000 after buying an additional 1,122 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in shares of MGE Energy in the fourth quarter worth about $100,000. Finally, Smartleaf Asset Management LLC lifted its stake in MGE Energy by 19.1% during the 2nd quarter. Smartleaf Asset Management LLC now owns 1,326 shares of the utilities provider’s stock valued at $117,000 after acquiring an additional 213 shares during the period. 52.58% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of MGE Energy in a research note on Monday, December 29th. Morgan Stanley cut their price objective on MGE Energy from $74.00 to $73.00 and set an “underweight” rating on the stock in a research report on Monday, February 2nd. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $78.00.

MGE Energy Company Profile

MGE Energy, Inc is a public utility holding company headquartered in Madison, Wisconsin. Through its principal subsidiary, Madison Gas and Electric Company (MGE), the company provides regulated electric and natural gas distribution services to residential, commercial and industrial customers in south-central Wisconsin. MGE Energy’s operations encompass the generation, transmission and distribution of electricity as well as the purchase and distribution of natural gas, with an emphasis on reliable service and system resilience.

Since reorganizing as a holding company in 2001, MGE Energy has expanded its portfolio to include nonregulated subsidiaries involved in renewable energy development, energy services and infrastructure support.