MGE Energy (NASDAQ:MGEE) Price Target Raised to $68.00 at Morgan Stanley

MGE Energy (NASDAQ:MGEEFree Report) had its price objective hoisted by Morgan Stanley from $63.00 to $68.00 in a research report report published on Tuesday morning, Benzinga reports. They currently have an underweight rating on the utilities provider’s stock.

A number of other research firms have also issued reports on MGEE. upgraded shares of MGE Energy from a sell rating to a hold rating in a report on Monday, May 20th. TheStreet lowered shares of MGE Energy from a b rating to a c+ rating in a report on Tuesday, January 30th.

View Our Latest Analysis on MGEE

MGE Energy Stock Up 1.9 %

NASDAQ MGEE opened at $78.14 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.09. The company’s 50 day simple moving average is $78.52 and its 200 day simple moving average is $73.51. MGE Energy has a 12 month low of $61.94 and a 12 month high of $83.27. The company has a market capitalization of $2.83 billion, a P/E ratio of 23.54 and a beta of 0.72.

MGE Energy (NASDAQ:MGEEGet Free Report) last released its earnings results on Wednesday, May 8th. The utilities provider reported $0.93 EPS for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.01). MGE Energy had a return on equity of 10.60% and a net margin of 18.12%. The business had revenue of $191.34 million during the quarter, compared to the consensus estimate of $221.46 million. Equities research analysts expect that MGE Energy will post 3.69 earnings per share for the current fiscal year.

MGE Energy Dividend Announcement

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

Insider Activity

In related news, Director James G. Berbee acquired 458 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were purchased at an average cost of $82.16 per share, with a total value of $37,629.28. Following the completion of the transaction, the director now owns 9,725 shares of the company’s stock, valued at approximately $799,006. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.19% of the stock is owned by company insiders.

Institutional Inflows and Outflows

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

MGE Energy Company Profile

(Get Free Report)

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.

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