MGE Energy (NASDAQ:MGEE) Announces Earnings Results, Misses Estimates By $0.02 EPS

MGE Energy (NASDAQ:MGEE) released its earnings results on Tuesday. The utilities provider reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.02), FiscalAI reports. MGE Energy had a net margin of 18.55% and a return on equity of 10.65%. The firm had revenue of $189.55 million during the quarter.

MGE Energy Trading Up 1.3%

NASDAQ:MGEE traded up $1.06 during trading hours on Tuesday, reaching $82.56. 129,237 shares of the company were exchanged, compared to its average volume of 116,987. The stock has a 50 day simple moving average of $79.52 and a 200 day simple moving average of $82.14. The firm has a market cap of $3.02 billion, a price-to-earnings ratio of 22.37 and a beta of 0.82. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.91 and a quick ratio of 0.59. MGE Energy has a 52-week low of $76.47 and a 52-week high of $95.00.

MGE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, March 15th. Stockholders of record on Sunday, March 1st will be paid a dividend of $0.475 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 2.3%. MGE Energy’s dividend payout ratio is currently 51.49%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of MGE Energy in a report on Monday, December 29th. Morgan Stanley lowered their price target on shares of MGE Energy from $74.00 to $73.00 and set an “underweight” rating for the company in a report on Monday, February 2nd. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $78.00.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Invesco Ltd. lifted its stake in shares of MGE Energy by 14.3% in the 2nd quarter. Invesco Ltd. now owns 238,747 shares of the utilities provider’s stock worth $21,115,000 after acquiring an additional 29,811 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of MGE Energy by 9.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 216,173 shares of the utilities provider’s stock valued at $16,952,000 after purchasing an additional 18,877 shares during the period. Qube Research & Technologies Ltd increased its stake in shares of MGE Energy by 167.5% in the third quarter. Qube Research & Technologies Ltd now owns 162,217 shares of the utilities provider’s stock worth $13,655,000 after acquiring an additional 101,586 shares during the last quarter. Nuveen LLC increased its holdings in MGE Energy by 0.3% in the fourth quarter. Nuveen LLC now owns 159,491 shares of the utilities provider’s stock worth $12,507,000 after buying an additional 480 shares during the last quarter. Finally, Public Sector Pension Investment Board raised its holdings in shares of MGE Energy by 8.5% during the 2nd quarter. Public Sector Pension Investment Board now owns 124,551 shares of the utilities provider’s stock valued at $11,015,000 after purchasing an additional 9,775 shares in the last quarter. Institutional investors and hedge funds own 52.58% of the company’s stock.

MGE Energy Company Profile

MGE Energy, Inc is a public utility holding company headquartered in Madison, Wisconsin. Through its principal subsidiary, Madison Gas and Electric Company (MGE), the company provides regulated electric and natural gas distribution services to residential, commercial and industrial customers in south-central Wisconsin. MGE Energy’s operations encompass the generation, transmission and distribution of electricity as well as the purchase and distribution of natural gas, with an emphasis on reliable service and system resilience.

Since reorganizing as a holding company in 2001, MGE Energy has expanded its portfolio to include nonregulated subsidiaries involved in renewable energy development, energy services and infrastructure support.