MGE Energy (NASDAQ:MGEE) Sets New 12-Month Low – Here’s What Happened

MGE Energy Inc. (NASDAQ:MGEE) reached a new 52-week low on Monday . The stock traded as low as $77.81 and last traded at $78.20, with a volume of 14176 shares changing hands. The stock had previously closed at $78.66.

Analysts Set New Price Targets

A number of research analysts recently issued reports on MGEE shares. LADENBURG THALM/SH SH upgraded MGE Energy from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $69.00 to $83.00 in a research note on Thursday, September 11th. Morgan Stanley restated an “underweight” rating on shares of MGE Energy in a research note on Wednesday, October 22nd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of MGE Energy in a research report on Monday. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $79.00.

MGE Energy Stock Performance

The firm has a market capitalization of $2.89 billion, a PE ratio of 21.41 and a beta of 0.83. The business has a 50-day simple moving average of $83.04 and a 200-day simple moving average of $85.27. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.91 and a quick ratio of 0.59.

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

MGE Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a $0.475 dividend. The ex-dividend date is Monday, December 1st. This represents a $1.90 dividend on an annualized basis and a dividend yield of 2.4%. MGE Energy’s dividend payout ratio is presently 51.49%.

Hedge Funds Weigh In On MGE Energy

A number of hedge funds have recently added to or reduced their stakes in MGEE. Advisory Services Network LLC bought a new stake in shares of MGE Energy during the third quarter valued at approximately $40,000. Hilltop National Bank bought a new position in MGE Energy in the second quarter worth approximately $41,000. Steward Partners Investment Advisory LLC increased its holdings in MGE Energy by 107.3% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 485 shares of the utilities provider’s stock worth $43,000 after purchasing an additional 251 shares during the period. Private Trust Co. NA bought a new stake in MGE Energy during the 2nd quarter valued at $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in 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 valued at $47,000 after purchasing an additional 169 shares in the last quarter. 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.