MGE Energy (NASDAQ:MGEE) Sets New 12-Month High at $87.37

MGE Energy, Inc. (NASDAQ:MGEE)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $87.37 and last traded at $86.73, with a volume of 17514 shares changing hands. The stock had previously closed at $85.03.

Analyst Upgrades and Downgrades

Several equities analysts have commented on MGEE shares. StockNews.com raised MGE Energy from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. Morgan Stanley dropped their target price on MGE Energy from $68.00 to $65.00 and set an “underweight” rating for the company in a report on Monday, June 24th.

MGE Energy Price Performance

The stock has a fifty day moving average of $78.27 and a two-hundred day moving average of $74.83. The stock has a market capitalization of $3.14 billion, a price-to-earnings ratio of 25.61 and a beta of 0.70. The company has a current ratio of 1.59, a quick ratio of 1.09 and a debt-to-equity ratio of 0.62.

MGE Energy (NASDAQ:MGEE) last released its quarterly earnings results on Wednesday, May 8th. The utilities provider reported $0.93 earnings per share for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.01). The business had revenue of $191.34 million for the quarter, compared to analyst estimates of $221.46 million. MGE Energy had a net margin of 18.12% and a return on equity of 10.60%. As a group, equities research analysts forecast that MGE Energy, Inc. will post 3.69 earnings per share for the current year.

MGE Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Saturday, June 15th. Shareholders of record on Saturday, June 1st were given a $0.428 dividend. The ex-dividend date was Friday, May 31st. This represents a $1.71 dividend on an annualized basis and a yield of 1.97%. MGE Energy’s payout ratio is 51.51%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MGEE. Trust Point Inc. bought a new position in shares of MGE Energy in the 4th quarter worth $344,000. International Assets Investment Management LLC boosted its position in shares of MGE Energy by 7,129.0% in the 4th quarter. International Assets Investment Management LLC now owns 17,205 shares of the utilities provider’s stock worth $1,244,000 after purchasing an additional 16,967 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of MGE Energy by 6.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,863 shares of the utilities provider’s stock worth $1,219,000 after purchasing an additional 1,011 shares during the last quarter. MBE Wealth Management LLC boosted its position in shares of MGE Energy by 6.2% in the 4th quarter. MBE Wealth Management LLC now owns 6,805 shares of the utilities provider’s stock worth $492,000 after purchasing an additional 398 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of MGE Energy by 15.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,433 shares of the utilities provider’s stock worth $610,000 after purchasing an additional 1,140 shares during 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.