MGE Energy (NASDAQ:MGEE) Hits New 1-Year High – Time to Buy?

MGE Energy, Inc. (NASDAQ:MGEE)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $95.63 and last traded at $96.54, with a volume of 32354 shares. The stock had previously closed at $90.81.

Analysts Set New Price Targets

Separately, Morgan Stanley upped their price objective on shares of MGE Energy from $71.00 to $74.00 and gave the company an “underweight” rating in a research report on Wednesday, September 25th.

MGE Energy Stock Performance

The company has a current ratio of 1.32, a quick ratio of 0.90 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $3.52 billion, a price-to-earnings ratio of 30.51 and a beta of 0.71. The stock has a 50-day simple moving average of $90.01 and a 200-day simple moving average of $83.92.

MGE Energy (NASDAQ:MGEE) last posted its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.29). The company had revenue of $145.71 million for the quarter, compared to the consensus estimate of $151.29 million. MGE Energy had a net margin of 17.45% and a return on equity of 10.04%. On average, analysts anticipate that MGE Energy, Inc. will post 3.69 earnings per share for the current year.

MGE Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.80 annualized dividend and a dividend yield of 1.85%. MGE Energy’s payout ratio is 56.43%.

Institutional Trading of MGE Energy

Several institutional investors and hedge funds have recently bought and sold shares of the company. Quest Partners LLC grew its position in shares of MGE Energy by 5,088.9% in the 2nd quarter. Quest Partners LLC now owns 467 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 458 shares in the last quarter. Assetmark Inc. bought a new position in MGE Energy during the third quarter worth $35,000. Covestor Ltd boosted its holdings in MGE Energy by 37.3% in the third quarter. Covestor Ltd now owns 453 shares of the utilities provider’s stock worth $42,000 after purchasing an additional 123 shares during the period. GAMMA Investing LLC increased its stake in MGE Energy by 244.6% during the second quarter. GAMMA Investing LLC now owns 672 shares of the utilities provider’s stock valued at $50,000 after purchasing an additional 477 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of MGE Energy during the second quarter worth $58,000. Institutional investors and hedge funds own 52.58% of the company’s stock.

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.