Gabelli reissued their hold rating on shares of MGE Energy Inc. (NASDAQ:MGEE) in a report released on Monday morning. Gabelli also issued estimates for MGE Energy’s FY2020 earnings at $2.50 EPS and FY2021 earnings at $2.65 EPS.
Other equities research analysts also recently issued research reports about the company. BidaskClub downgraded MGE Energy from a sell rating to a strong sell rating in a research report on Thursday, August 17th. Zacks Investment Research raised MGE Energy from a sell rating to a hold rating in a research report on Thursday, September 7th.
Shares of MGE Energy (NASDAQ MGEE) opened at $64.90 on Monday. The company has a market capitalization of $2,250.00, a price-to-earnings ratio of 29.70 and a beta of 0.34. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.02 and a quick ratio of 2.47. MGE Energy has a 1 year low of $58.08 and a 1 year high of $68.70.
MGE Energy (NASDAQ:MGEE) last announced its quarterly earnings data on Friday, November 3rd. The utilities provider reported $0.77 EPS for the quarter. The business had revenue of $139.54 million during the quarter. MGE Energy had a return on equity of 10.31% and a net margin of 13.52%. analysts expect that MGE Energy will post 2.2 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a dividend of $0.3225 per share. This represents a $1.29 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date is Thursday, November 30th. MGE Energy’s dividend payout ratio is presently 58.90%.
In related news, insider Jeffrey M. Keebler acquired 547 shares of MGE Energy stock in a transaction on Tuesday, September 5th. The shares were bought at an average price of $64.02 per share, for a total transaction of $35,018.94. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.20% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of MGEE. First Trust Advisors LP lifted its stake in shares of MGE Energy by 4,817.6% during the third quarter. First Trust Advisors LP now owns 314,777 shares of the utilities provider’s stock worth $20,335,000 after purchasing an additional 308,376 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of MGE Energy by 82.2% during the third quarter. Wells Fargo & Company MN now owns 132,662 shares of the utilities provider’s stock worth $8,570,000 after purchasing an additional 59,855 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of MGE Energy during the second quarter worth about $3,849,000. Prudential Financial Inc. lifted its stake in shares of MGE Energy by 85.7% during the second quarter. Prudential Financial Inc. now owns 97,139 shares of the utilities provider’s stock worth $6,250,000 after purchasing an additional 44,830 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of MGE Energy by 5.8% during the second quarter. State Street Corp now owns 777,467 shares of the utilities provider’s stock worth $50,028,000 after purchasing an additional 42,917 shares in the last quarter. Institutional investors own 38.04% of the company’s stock.
About MGE Energy
MGE Energy, Inc (MGE) is a public utility holding company. The Company operates through five segments: Regulated electric utility operations; Regulated gas utility operations; Nonregulated energy operations; Transmission investments, and All other. The Regulated electric utility operations segment is engaged in generating, purchasing and distributing electricity through Madison Gas and Electric Company (MGE).
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