MGE Energy (NASDAQ:MGEE) Raised to “Buy” at LADENBURG THALM/SH SH

MGE Energy (NASDAQ:MGEE) was upgraded by LADENBURG THALM/SH SH from a “neutral” rating to a “buy” rating in a research note issued to investors on Monday, Marketbeat reports. The firm presently has a $81.00 target price on the utilities provider’s stock. LADENBURG THALM/SH SH’s price target points to a potential upside of 7.06% from the company’s current price.

Several other research analysts have also weighed in on MGEE. Morgan Stanley reissued an “underweight” rating and set a $70.00 price objective on shares of MGE Energy in a research note on Thursday, May 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of MGE Energy in a report on Friday, May 8th. Finally, Wall Street Zen raised shares of MGE Energy from a “sell” rating to a “hold” rating in a research report on Sunday, March 8th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, MGE Energy presently has an average rating of “Hold” and an average price target of $75.50.

MGE Energy Stock Performance

Shares of MGE Energy stock opened at $75.66 on Monday. The firm has a fifty day moving average of $77.27 and a two-hundred day moving average of $78.60. The stock has a market capitalization of $2.78 billion, a price-to-earnings ratio of 19.40 and a beta of 0.73. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.83 and a current ratio of 1.15. MGE Energy has a 52 week low of $72.16 and a 52 week high of $91.49.

MGE Energy (NASDAQ:MGEE) last issued its earnings results on Tuesday, May 5th. The utilities provider reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.19. The firm had revenue of $242.70 million for the quarter, compared to analysts’ expectations of $227.06 million. MGE Energy had a return on equity of 10.94% and a net margin of 18.61%. As a group, equities research analysts predict that MGE Energy will post 3.94 EPS for the current year.

Insider Activity at MGE Energy

In related news, Director James G. Berbee bought 373 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The shares were acquired at an average price of $77.74 per share, for a total transaction of $28,997.02. Following the completion of the acquisition, the director owned 9,362 shares of the company’s stock, valued at approximately $727,801.88. The trade was a 4.15% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.41% of the stock is currently owned by corporate insiders.

Institutional Trading of MGE Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Glenmede Trust Co. NA grew its position in shares of MGE Energy by 3.5% in the 1st quarter. Glenmede Trust Co. NA now owns 4,356 shares of the utilities provider’s stock valued at $337,000 after acquiring an additional 148 shares during the period. Bank of America Corp DE lifted its stake in MGE Energy by 50.2% in the 1st quarter. Bank of America Corp DE now owns 99,834 shares of the utilities provider’s stock valued at $7,716,000 after purchasing an additional 33,384 shares during the last quarter. Quantinno Capital Management LP lifted its stake in MGE Energy by 17.6% in the 1st quarter. Quantinno Capital Management LP now owns 12,496 shares of the utilities provider’s stock valued at $966,000 after purchasing an additional 1,872 shares during the last quarter. Renaissance Technologies LLC grew its holdings in MGE Energy by 46.0% during the first quarter. Renaissance Technologies LLC now owns 67,600 shares of the utilities provider’s stock worth $5,225,000 after purchasing an additional 21,300 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its holdings in MGE Energy by 12.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 122,768 shares of the utilities provider’s stock worth $9,489,000 after purchasing an additional 13,610 shares during the period. 52.58% of the stock is owned by institutional investors.

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.