MGE Energy (NASDAQ:MGEE) Shares Down 4.2% – What’s Next?

MGE Energy, Inc. (NASDAQ:MGEE)’s share price fell 4.2% on Wednesday . The stock traded as low as $90.28 and last traded at $90.19. 34,114 shares traded hands during trading, a decline of 73% from the average session volume of 124,504 shares. The stock had previously closed at $94.18.

Wall Street Analysts Forecast Growth

Separately, LADENBURG THALM/SH SH raised MGE Energy to a “strong sell” rating in a research note on Thursday, December 12th.

MGE Energy Price Performance

The business’s 50-day simple moving average is $97.00 and its 200 day simple moving average is $91.66. The company has a current ratio of 1.41, a quick ratio of 0.94 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $3.10 billion, a P/E ratio of 26.21 and a beta of 0.76.

MGE Energy (NASDAQ:MGEE) last issued its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by ($0.04). The firm had revenue of $168.48 million for the quarter, compared to analyst estimates of $163.82 million. MGE Energy had a net margin of 17.70% and a return on equity of 10.18%. As a group, sell-side analysts anticipate that MGE Energy, Inc. will post 3.43 EPS for the current year.

MGE Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.10%. MGE Energy’s dividend payout ratio (DPR) is presently 55.05%.

Institutional Trading of MGE Energy

Hedge funds have recently bought and sold shares of the company. Versant Capital Management Inc raised its position in MGE Energy by 367.1% during the fourth quarter. Versant Capital Management Inc now owns 327 shares of the utilities provider’s stock valued at $31,000 after buying an additional 257 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of MGE Energy by 88.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 357 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 168 shares during the period. Assetmark Inc. purchased a new stake in shares of MGE Energy in the third quarter worth approximately $35,000. Covestor Ltd lifted its position in shares of 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 in the last quarter. Finally, KBC Group NV boosted its holdings in shares of MGE Energy by 32.2% during the fourth quarter. KBC Group NV now owns 1,478 shares of the utilities provider’s stock worth $139,000 after purchasing an additional 360 shares during the period. 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.