MGE Energy (NASDAQ:MGEE) Hits New 52-Week Low – Here’s What Happened

MGE Energy Inc. (NASDAQ:MGEE) shares reached a new 52-week low during trading on Wednesday . The company traded as low as $75.80 and last traded at $75.5860, with a volume of 7537 shares traded. The stock had previously closed at $76.77.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on MGEE shares. Weiss Ratings restated a “hold (c+)” rating on shares of MGE Energy in a research report on Monday, December 29th. Wall Street Zen upgraded MGE Energy from a “sell” rating to a “hold” rating in a report on Sunday, March 8th. Finally, Morgan Stanley lowered their price target on MGE Energy from $74.00 to $73.00 and set an “underweight” rating for the company in a research note on Monday, February 2nd. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, MGE Energy currently has an average rating of “Reduce” and a consensus price target of $78.00.

MGE Energy Stock Performance

The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.55 and a current ratio of 0.77. The stock’s 50-day moving average is $79.67 and its 200 day moving average is $81.71. The firm has a market cap of $2.70 billion, a P/E ratio of 19.83 and a beta of 0.81.

MGE Energy (NASDAQ:MGEE) last posted its earnings results on Tuesday, February 24th. The utilities provider reported $0.64 earnings per share for the quarter, hitting the consensus estimate of $0.64. MGE Energy had a return on equity of 10.60% and a net margin of 18.27%.The firm had revenue of $189.55 million for the quarter. On average, research analysts predict that MGE Energy Inc. will post 3.43 earnings per share for the current year.

MGE Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, March 15th. Stockholders of record on Sunday, March 1st will be issued a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Friday, February 27th. MGE Energy’s payout ratio is 51.08%.

Insider Activity

In other MGE Energy news, Director James G. Berbee acquired 373 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The stock was acquired at an average cost of $77.74 per share, for a total transaction of $28,997.02. Following the transaction, the director owned 9,362 shares of the company’s stock, valued at $727,801.88. This trade represents a 4.15% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MGEE. First Trust Advisors LP increased its position in shares of MGE Energy by 407.1% during the second quarter. First Trust Advisors LP now owns 499,950 shares of the utilities provider’s stock worth $44,216,000 after acquiring an additional 401,361 shares in the last quarter. Qube Research & Technologies Ltd lifted its position in MGE Energy by 167.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 162,217 shares of the utilities provider’s stock valued at $13,655,000 after acquiring an additional 101,586 shares in the last quarter. ProShare Advisors LLC boosted its stake in MGE Energy by 788.8% in the 2nd quarter. ProShare Advisors LLC now owns 76,265 shares of the utilities provider’s stock worth $6,745,000 after purchasing an additional 67,684 shares during the period. Jane Street Group LLC boosted its stake in MGE Energy by 718.5% in the 1st quarter. Jane Street Group LLC now owns 75,007 shares of the utilities provider’s stock worth $6,973,000 after purchasing an additional 65,843 shares during the period. Finally, Speece Thorson Capital Group Inc. increased its holdings in MGE Energy by 44.3% during the 4th quarter. Speece Thorson Capital Group Inc. now owns 195,596 shares of the utilities provider’s stock worth $15,339,000 after purchasing an additional 60,037 shares in the last quarter. Institutional investors own 52.58% of the company’s stock.

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.