Zacks: MGE Energy Inc. (MGEE) Given Average Recommendation of “Hold” by Analysts
Shares of MGE Energy Inc. (NASDAQ:MGEE) have been given an average broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation.
Zacks has also assigned MGE Energy an industry rank of 195 out of 265 based on the ratings given to related companies.
A number of equities analysts have commented on the stock. BidaskClub cut shares of MGE Energy from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 17th. Zacks Investment Research raised shares of MGE Energy from a “sell” rating to a “hold” rating in a research note on Thursday, September 7th.
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In related news, insider Jeffrey M. Keebler purchased 547 shares of the business’s stock in a transaction on Tuesday, September 5th. The stock was acquired at an average price of $64.02 per share, with a total value of $35,018.94. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 0.20% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Amalgamated Bank lifted its holdings in shares of MGE Energy by 2.9% in the 2nd quarter. Amalgamated Bank now owns 4,472 shares of the utilities provider’s stock worth $288,000 after acquiring an additional 126 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of MGE Energy by 10.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,568 shares of the utilities provider’s stock worth $101,000 after acquiring an additional 154 shares during the last quarter. Strs Ohio lifted its holdings in shares of MGE Energy by 6.3% in the 2nd quarter. Strs Ohio now owns 3,400 shares of the utilities provider’s stock worth $218,000 after acquiring an additional 200 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of MGE Energy by 3.1% in the 2nd quarter. PNC Financial Services Group Inc. now owns 7,485 shares of the utilities provider’s stock worth $482,000 after acquiring an additional 222 shares during the last quarter. Finally, Bessemer Group Inc. lifted its holdings in shares of MGE Energy by 0.8% in the 2nd quarter. Bessemer Group Inc. now owns 39,519 shares of the utilities provider’s stock worth $2,544,000 after acquiring an additional 319 shares during the last quarter. Hedge funds and other institutional investors own 37.99% of the company’s stock.
MGE Energy (NASDAQ:MGEE) opened at $64.65 on Thursday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.49 and a current ratio of 3.02. MGE Energy has a 12 month low of $56.05 and a 12 month high of $68.70. The company has a market cap of $2,243.04, a P/E ratio of 29.41 and a beta of 0.34.
MGE Energy (NASDAQ:MGEE) last released its quarterly earnings results on Friday, November 3rd. The utilities provider reported $0.77 EPS for the quarter. MGE Energy had a net margin of 13.52% and a return on equity of 10.31%. The business had revenue of $139.54 million during the quarter.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a $0.3225 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.29 dividend on an annualized basis and a yield of 2.00%. MGE Energy’s dividend payout ratio is presently 58.64%.
About MGE Energy
MGE Energy, Inc (MGE) is a public utility holding company. The Company operates through five segments: Regulated electric utility operations; Regulated gas utility operations; Nonregulated energy operations; Transmission investments, and All other. The Regulated electric utility operations segment is engaged in generating, purchasing and distributing electricity through Madison Gas and Electric Company (MGE).
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