MGE Energy (NASDAQ:MGEE) Price Target Raised to $80.00

MGE Energy (NASDAQ:MGEE) had its target price upped by Morgan Stanley from $78.00 to $80.00 in a research note published on Thursday,Benzinga reports. They currently have an underweight rating on the utilities provider’s stock.

Separately, LADENBURG THALM/SH SH raised shares of MGE Energy to a “strong sell” rating in a research report on Monday, March 17th.

MGE Energy Trading Down 1.4 %

NASDAQ MGEE opened at $91.31 on Thursday. The company has a quick ratio of 0.94, a current ratio of 1.41 and a debt-to-equity ratio of 0.60. The firm has a market cap of $3.33 billion, a PE ratio of 27.92 and a beta of 0.72. The company has a 50 day moving average price of $90.88 and a 200 day moving average price of $93.45. MGE Energy has a 52 week low of $72.27 and a 52 week high of $109.22.

MGE Energy (NASDAQ:MGEE) last posted its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.61 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.23). The firm had revenue of $171.42 million for the quarter. MGE Energy had a return on equity of 10.18% and a net margin of 17.70%. As a group, sell-side analysts forecast that MGE Energy will post 3.43 EPS for the current fiscal year.

MGE Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend was Friday, February 28th. MGE Energy’s dividend payout ratio (DPR) is currently 54.05%.

Insider Activity

In other MGE Energy news, Director James G. Berbee acquired 446 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were acquired at an average cost of $90.83 per share, with a total value of $40,510.18. Following the acquisition, the director now directly owns 11,532 shares of the company’s stock, valued at approximately $1,047,451.56. The trade was a 4.02 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.19% of the company’s stock.

Institutional Trading of MGE Energy

Large investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. boosted its holdings in shares of MGE Energy by 2.1% in 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 acquiring an additional 8,629 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in MGE Energy by 16.0% during the third quarter. JPMorgan Chase & Co. now owns 59,585 shares of the utilities provider’s stock worth $5,449,000 after buying an additional 8,233 shares in the last quarter. Martingale Asset Management L P boosted its holdings in MGE Energy by 67.8% during the third quarter. Martingale Asset Management L P now owns 11,912 shares of the utilities provider’s stock worth $1,089,000 after buying an additional 4,812 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in MGE Energy by 62,788.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 5,660 shares of the utilities provider’s stock worth $532,000 after buying an additional 5,651 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its holdings in MGE Energy by 2.7% during the third quarter. Thrivent Financial for Lutherans now owns 30,849 shares of the utilities provider’s stock worth $2,821,000 after buying an additional 818 shares in the last quarter. 52.58% of the stock is owned by hedge funds and other institutional investors.

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.