MGE Energy (NASDAQ:MGEE) Upgraded at LADENBURG THALM/SH SH

LADENBURG THALM/SH SH upgraded shares of MGE Energy (NASDAQ:MGEE) to a strong sell rating in a report issued on Monday morning,Zacks.com reports.

MGE Energy Stock Down 0.2 %

MGEE opened at $92.51 on Monday. MGE Energy has a fifty-two week low of $72.27 and a fifty-two week high of $109.22. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.41 and a quick ratio of 0.94. The firm’s fifty day moving average price is $90.79 and its two-hundred day moving average price is $93.37. The company has a market capitalization of $3.38 billion, a P/E ratio of 28.29 and a beta of 0.72.

MGE Energy (NASDAQ:MGEE) last posted its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.23). MGE Energy had a return on equity of 10.18% and a net margin of 17.70%. The business had revenue of $171.42 million for the quarter. On average, analysts anticipate that MGE Energy will post 3.43 EPS for the current year.

MGE Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Saturday, March 1st were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.80 annualized dividend and a yield of 1.95%. MGE Energy’s dividend payout ratio (DPR) is 54.05%.

Insider Buying and Selling

In other MGE Energy news, Director James G. Berbee bought 446 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were bought at an average cost of $90.83 per share, for a total transaction of $40,510.18. Following the transaction, the director now owns 11,532 shares in the company, valued at approximately $1,047,451.56. This trade represents a 4.02 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.19% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. lifted its position in MGE Energy by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 425,461 shares of the utilities provider’s stock valued at $38,908,000 after purchasing an additional 8,629 shares during the period. Royce & Associates LP raised its position in shares of MGE Energy by 155.4% in the 3rd quarter. Royce & Associates LP now owns 11,668 shares of the utilities provider’s stock valued at $1,067,000 after acquiring an additional 7,099 shares during the period. JPMorgan Chase & Co. raised its position in shares of MGE Energy by 16.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 59,585 shares of the utilities provider’s stock valued at $5,449,000 after acquiring an additional 8,233 shares during the period. Quest Partners LLC raised its position in shares of MGE Energy by 2,789.7% in the 3rd quarter. Quest Partners LLC now owns 13,495 shares of the utilities provider’s stock valued at $1,234,000 after acquiring an additional 13,028 shares during the period. Finally, Martingale Asset Management L P raised its position in shares of MGE Energy by 67.8% in the 3rd quarter. Martingale Asset Management L P now owns 11,912 shares of the utilities provider’s stock valued at $1,089,000 after acquiring an additional 4,812 shares during the period. 52.58% of the stock is currently owned by institutional investors and hedge funds.

MGE Energy Company Profile

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.