MGE Energy (NASDAQ:MGEE) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of MGE Energy (NASDAQ:MGEE) from a sell rating to a hold rating in a report published on Sunday.

Other equities research analysts have also issued reports about the stock. Morgan Stanley decreased their price target on shares of MGE Energy from $74.00 to $73.00 and set an “underweight” rating on the stock in a report on Monday, February 2nd. Weiss Ratings restated a “hold (c+)” rating on shares of MGE Energy in a research report on Monday, December 29th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $78.00.

MGE Energy Stock Performance

NASDAQ:MGEE opened at $76.77 on Friday. The stock’s 50-day simple moving average is $79.85 and its 200 day simple moving average is $81.82. The firm has a market capitalization of $2.81 billion, a PE ratio of 20.64 and a beta of 0.81. The company has a quick ratio of 0.55, a current ratio of 0.77 and a debt-to-equity ratio of 0.61. MGE Energy has a twelve month low of $76.47 and a twelve month high of $94.79.

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

MGE Energy Announces Dividend

The company 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 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, February 27th. MGE Energy’s dividend payout ratio (DPR) is presently 51.08%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MGEE. Hantz Financial Services Inc. boosted its position in MGE Energy by 63.8% during the 4th quarter. Hantz Financial Services Inc. now owns 416 shares of the utilities provider’s stock worth $33,000 after buying an additional 162 shares during the period. Advisory Services Network LLC acquired a new position in MGE Energy in the 3rd quarter valued at approximately $40,000. Steward Partners Investment Advisory LLC raised its stake in shares of MGE Energy by 107.3% during the second quarter. Steward Partners Investment Advisory LLC now owns 485 shares of the utilities provider’s stock valued at $43,000 after acquiring an additional 251 shares during the last quarter. eCIO Inc. bought a new position in shares of MGE Energy during the fourth quarter valued at $45,000. Finally, Parallel Advisors LLC lifted its holdings 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 purchasing an additional 159 shares during the period. Institutional investors and hedge funds own 52.58% of the company’s stock.

About MGE Energy

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.