MGE Energy (NASDAQ:MGEE) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of MGE Energy (NASDAQ:MGEE) from a hold rating to a sell rating in a research report report published on Saturday morning.

Other analysts have also issued reports about the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of MGE Energy in a report on Monday, December 29th. Morgan Stanley cut their price target on MGE Energy from $74.00 to $73.00 and set an “underweight” rating for the company in a research note on Monday, February 2nd. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $78.00.

MGE Energy Stock Performance

MGEE stock opened at $81.85 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.55 and a current ratio of 0.77. The stock has a market cap of $2.99 billion, a P/E ratio of 22.00 and a beta of 0.81. The firm has a 50 day simple moving average of $79.74 and a 200 day simple moving average of $82.06. MGE Energy has a 52 week low of $76.47 and a 52 week high of $94.79.

MGE Energy (NASDAQ:MGEE) last released its quarterly earnings data on Tuesday, February 24th. The utilities provider reported $0.64 earnings per share for the quarter, meeting the consensus estimate of $0.64. MGE Energy had a net margin of 18.27% and a return on equity of 10.60%. The firm had revenue of $189.55 million for the quarter. Research analysts anticipate that MGE Energy will post 3.43 earnings per share for the current fiscal year.

MGE Energy Dividend Announcement

The business also recently declared 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. This represents a $1.90 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Friday, February 27th. MGE Energy’s dividend payout ratio is 51.08%.

Institutional Investors Weigh In On MGE Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in MGEE. Hantz Financial Services Inc. boosted its position in MGE Energy by 63.8% during the fourth quarter. Hantz Financial Services Inc. now owns 416 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 162 shares during the period. Advisory Services Network LLC acquired a new stake in shares of MGE Energy in the third quarter worth $40,000. Steward Partners Investment Advisory LLC boosted its holdings in shares of MGE Energy by 107.3% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 485 shares of the utilities provider’s stock worth $43,000 after buying an additional 251 shares during the period. eCIO Inc. acquired a new position in MGE Energy in the 4th quarter valued at $45,000. Finally, Parallel Advisors LLC grew its stake in MGE Energy by 28.6% in the 3rd quarter. Parallel Advisors LLC now owns 714 shares of the utilities provider’s stock valued at $60,000 after buying an additional 159 shares during the last quarter. 52.58% of the stock is currently owned by institutional investors and hedge funds.

About MGE Energy

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.