MGE Energy (NASDAQ:MGEE) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of MGE Energy (NASDAQ:MGEE) from a sell rating to a hold rating in a research note published on Tuesday.

Separately, TheStreet lowered shares of MGE Energy from a b rating to a c+ rating in a research note on Tuesday, January 30th.

MGE Energy Price Performance

NASDAQ MGEE opened at $78.72 on Tuesday. The firm has a market cap of $2.85 billion, a P/E ratio of 24.22 and a beta of 0.70. The stock’s 50-day moving average is $69.65 and its two-hundred day moving average is $71.35. MGE Energy has a fifty-two week low of $61.94 and a fifty-two week high of $83.27. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.52 and a quick ratio of 1.05.

MGE Energy (NASDAQ:MGEE) last posted its earnings results on Wednesday, February 21st. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.06). MGE Energy had a net margin of 17.05% and a return on equity of 10.49%. The firm had revenue of $164.65 million during the quarter, compared to the consensus estimate of $190.55 million. On average, analysts anticipate that MGE Energy will post 3.68 earnings per share for the current fiscal year.

MGE Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a dividend of $0.428 per share. The ex-dividend date was Thursday, February 29th. This represents a $1.71 annualized dividend and a yield of 2.17%. MGE Energy’s dividend payout ratio (DPR) is currently 52.62%.

Insider Activity

In related news, Director James G. Berbee acquired 458 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were acquired at an average cost of $82.16 per share, for a total transaction of $37,629.28. Following the completion of the acquisition, the director now directly owns 9,725 shares in the company, valued at approximately $799,006. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.23% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. KBC Group NV acquired a new position in MGE Energy during the fourth quarter worth $34,000. Covestor Ltd lifted its position in MGE Energy by 16,133.3% during the 2nd quarter. Covestor Ltd now owns 487 shares of the utilities provider’s stock worth $39,000 after buying an additional 484 shares in the last quarter. Security National Bank acquired a new position in shares of MGE Energy during the 4th quarter worth about $43,000. Quantbot Technologies LP bought a new position in shares of MGE Energy in the 3rd quarter valued at about $47,000. Finally, Money Concepts Capital Corp acquired a new stake in shares of MGE Energy in the fourth quarter valued at about $48,000. 52.58% of the stock is currently owned by institutional investors.

About MGE Energy

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.