MGE Energy (NASDAQ:MGEE) Sets New 52-Week Low – Here’s Why

MGE Energy Inc. (NASDAQ:MGEE) hit a new 52-week low during trading on Wednesday . The company traded as low as $72.75 and last traded at $72.8690, with a volume of 37664 shares changing hands. The stock had previously closed at $74.41.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of MGE Energy in a report on Monday, December 29th. Morgan Stanley dropped their price objective on shares of MGE Energy from $74.00 to $73.00 and set an “underweight” rating on the stock in a report on Monday, February 2nd. Finally, Wall Street Zen upgraded shares of MGE Energy from a “sell” rating to a “hold” rating in a research note on Sunday, March 8th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, MGE Energy has a consensus rating of “Reduce” and an average target price of $78.00.

MGE Energy Price Performance

The company has a current ratio of 0.77, a quick ratio of 0.55 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $2.67 billion, a price-to-earnings ratio of 19.59 and a beta of 0.81. The stock has a 50-day moving average price of $79.48 and a 200 day moving average price of $81.40.

MGE Energy (NASDAQ:MGEE) last issued its quarterly earnings results on Tuesday, February 24th. The utilities provider reported $0.64 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.64. The company had revenue of $189.55 million for the quarter. MGE Energy had a return on equity of 10.60% and a net margin of 18.27%. As a group, equities research analysts expect that MGE Energy Inc. will post 3.43 earnings per share for the current year.

MGE Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, March 15th. Investors of record on Sunday, March 1st were paid a $0.475 dividend. The ex-dividend date of this dividend was Friday, February 27th. This represents a $1.90 dividend on an annualized basis and a yield of 2.6%. MGE Energy’s dividend payout ratio (DPR) is currently 51.08%.

Insider Transactions at MGE Energy

In related news, Director James G. Berbee purchased 373 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The stock was bought at an average price of $77.74 per share, with a total value of $28,997.02. Following the acquisition, the director owned 9,362 shares in the company, valued at $727,801.88. The trade was a 4.15% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On MGE Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MGEE. GuidedMoney LLC purchased a new stake in shares of MGE Energy during the fourth quarter worth about $285,000. Corient Private Wealth LLC boosted its holdings in MGE Energy by 106.3% in the 4th quarter. Corient Private Wealth LLC now owns 6,768 shares of the utilities provider’s stock worth $531,000 after buying an additional 3,487 shares during the last quarter. Beacon Pointe Advisors LLC boosted its holdings in MGE Energy by 6.6% in the 4th quarter. Beacon Pointe Advisors LLC now owns 2,826 shares of the utilities provider’s stock worth $222,000 after buying an additional 174 shares during the last quarter. State of Tennessee Department of Treasury increased its stake in MGE Energy by 6.1% during the 4th quarter. State of Tennessee Department of Treasury now owns 16,009 shares of the utilities provider’s stock worth $1,279,000 after buying an additional 925 shares in the last quarter. Finally, Susquehanna Portfolio Strategies LLC raised its holdings in shares of MGE Energy by 29.6% during the fourth quarter. Susquehanna Portfolio Strategies LLC now owns 9,047 shares of the utilities provider’s stock valued at $709,000 after acquiring an additional 2,066 shares during the last quarter. 52.58% of the stock is owned by hedge funds and other institutional investors.

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.