MGE Energy (NASDAQ:MGEE) Announces Quarterly Earnings Results

MGE Energy (NASDAQ:MGEE) posted its quarterly earnings results on Wednesday. The utilities provider reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.30, FiscalAI reports. MGE Energy had a net margin of 20.60% and a return on equity of 11.83%. The firm had revenue of $190.40 million during the quarter, compared to the consensus estimate of $184.59 million.

MGE Energy Stock Performance

Shares of NASDAQ MGEE traded up $1.96 during midday trading on Friday, reaching $80.32. The company’s stock had a trading volume of 128,560 shares, compared to its average volume of 214,941. The stock has a market capitalization of $3.03 billion, a P/E ratio of 18.47, a PEG ratio of 4.33 and a beta of 0.68. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.14 and a quick ratio of 0.79. The firm has a 50 day moving average price of $73.53 and a 200-day moving average price of $77.52. MGE Energy has a 12-month low of $68.01 and a 12-month high of $85.29.

MGE Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be issued a dividend of $0.5083 per share. This represents a $2.03 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Tuesday, December 1st. MGE Energy’s payout ratio is currently 46.88%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MGEE. Jefferies Financial Group set a $87.00 target price on MGE Energy in a research note on Thursday. JPMorgan Chase & Co. assumed coverage on MGE Energy in a research note on Thursday, October 15th. They set a “neutral” rating and a $76.00 price target on the stock. Bank of America assumed coverage on MGE Energy in a report on Thursday, September 24th. They issued a “neutral” rating and a $76.00 price target on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of MGE Energy in a report on Tuesday. Finally, Freedom Broker raised MGE Energy from a “hold” rating to a “buy” rating and raised their price objective for the company from $79.00 to $87.00 in a research note on Friday. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, MGE Energy currently has a consensus rating of “Hold” and a consensus target price of $79.83.

About MGE Energy

MGE Energy, Inc is a public utility holding company headquartered in Madison, Wisconsin. Its principal subsidiary, Madison Gas and Electric Company (MG&E), provides electric and natural gas service to customers in Madison and surrounding communities in south-central Wisconsin.

MG&E generates, purchases, transmits and distributes electricity, while also distributing natural gas. The company serves residential, commercial and industrial customers and offers related energy services, including programs focused on energy efficiency, electrification and renewable energy.

Madison Gas and Electric traces its history to 1855, and MGE Energy was established as the parent company of the utility in 1999.