MGE Energy (NASDAQ:MGEE) Hits New 12-Month Low – Should You Sell?

MGE Energy Inc. (NASDAQ:MGEE)’s share price reached a new 52-week low during trading on Wednesday . The company traded as low as $75.80 and last traded at $75.5860, with a volume of 7537 shares. The stock had previously closed at $76.77.

Analyst Ratings Changes

Several equities analysts have commented on MGEE shares. Wall Street Zen raised MGE Energy from a “sell” rating to a “hold” rating in a report on Sunday. Morgan Stanley lowered their price objective on MGE Energy from $74.00 to $73.00 and set an “underweight” rating on the stock in a research report on Monday, February 2nd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of MGE Energy in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $78.00.

MGE Energy Price Performance

The firm has a market capitalization of $2.75 billion, a P/E ratio of 20.23 and a beta of 0.81. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.77 and a quick ratio of 0.55. The company’s 50 day moving average price is $79.85 and its 200 day moving average price is $81.82.

MGE Energy (NASDAQ:MGEE) last posted its earnings results on Tuesday, February 24th. The utilities provider reported $0.64 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.64. MGE Energy had a return on equity of 10.60% and a net margin of 18.27%.The company had revenue of $189.55 million during the quarter. As a group, sell-side analysts anticipate that MGE Energy Inc. will post 3.43 EPS for the current fiscal year.

MGE Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, March 15th. Investors of record on Sunday, March 1st will be paid a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Friday, February 27th. MGE Energy’s dividend payout ratio (DPR) is presently 51.08%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MGEE. AQR Capital Management LLC increased its position in shares of MGE Energy by 18.8% in the first quarter. AQR Capital Management LLC now owns 8,275 shares of the utilities provider’s stock valued at $769,000 after acquiring an additional 1,312 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of MGE Energy by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,707 shares of the utilities provider’s stock worth $2,018,000 after acquiring an additional 954 shares during the period. United Services Automobile Association acquired a new position in shares of MGE Energy during the 1st quarter worth approximately $220,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of MGE Energy by 18.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 86,608 shares of the utilities provider’s stock worth $8,051,000 after acquiring an additional 13,715 shares during the last quarter. Finally, Jane Street Group LLC increased its holdings in shares of MGE Energy by 718.5% in the first quarter. Jane Street Group LLC now owns 75,007 shares of the utilities provider’s stock valued at $6,973,000 after purchasing an additional 65,843 shares during the last quarter. Institutional investors own 52.58% of the company’s stock.

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.