MGE Energy (NASDAQ:MGEE) Hits New 12-Month Low – What’s Next?

MGE Energy Inc. (NASDAQ:MGEE)’s share price reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $77.29 and last traded at $77.10, with a volume of 14578 shares changing hands. The stock had previously closed at $78.44.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Morgan Stanley reaffirmed an “underweight” rating on shares of MGE Energy in a research note on Wednesday, October 22nd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of MGE Energy in a research report on Monday, December 29th. Finally, LADENBURG THALM/SH SH raised MGE Energy from a “sell” rating to a “neutral” rating and increased their price target for the stock from $69.00 to $83.00 in a research report on Thursday, September 11th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, MGE Energy currently has an average rating of “Reduce” and an average target price of $79.00.

MGE Energy Price Performance

The company has a market cap of $2.81 billion, a PE ratio of 20.86 and a beta of 0.83. The company has a quick ratio of 0.59, a current ratio of 0.91 and a debt-to-equity ratio of 0.57. The firm has a 50 day simple moving average of $81.16 and a 200-day simple moving average of $84.00.

MGE Energy (NASDAQ:MGEE) last released its quarterly earnings results on Wednesday, November 5th. The utilities provider reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.03. MGE Energy had a net margin of 18.55% and a return on equity of 10.65%. The business had revenue of $175.68 million for the quarter. As a group, research analysts predict that MGE Energy Inc. will post 3.43 earnings per share for the current fiscal year.

MGE Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were given a dividend of $0.475 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $1.90 dividend on an annualized basis and a dividend yield of 2.5%. MGE Energy’s dividend payout ratio is presently 51.49%.

Institutional Investors Weigh In On MGE Energy

Large investors have recently modified their holdings of the business. Nisa Investment Advisors LLC lifted its stake in shares of MGE Energy by 4.9% during the third quarter. Nisa Investment Advisors LLC now owns 2,540 shares of the utilities provider’s stock worth $214,000 after buying an additional 118 shares during the period. Arizona State Retirement System lifted its stake in shares of MGE Energy by 1.3% in the 3rd quarter. Arizona State Retirement System now owns 10,769 shares of the utilities provider’s stock valued at $907,000 after purchasing an additional 133 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of MGE Energy by 1.5% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 10,300 shares of the utilities provider’s stock valued at $862,000 after purchasing an additional 153 shares in the last quarter. Parallel Advisors LLC grew its stake in MGE Energy by 28.6% in the 3rd quarter. Parallel Advisors LLC now owns 714 shares of the utilities provider’s stock valued at $60,000 after acquiring an additional 159 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in shares of MGE Energy by 47.3% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 526 shares of the utilities provider’s stock worth $47,000 after purchasing an additional 169 shares during the last quarter. Hedge funds and other 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.