MGE Energy (NASDAQ:MGEE) Rating Increased to Buy at LADENBURG THALM/SH SH

MGE Energy (NASDAQ:MGEE) was upgraded by investment analysts at LADENBURG THALM/SH SH from a “neutral” rating to a “buy” rating in a note issued to investors on Monday, Marketbeat.com reports. The brokerage currently has a $81.00 price target on the utilities provider’s stock. LADENBURG THALM/SH SH’s price objective would suggest a potential upside of 7.06% from the stock’s current price.

Several other brokerages also recently commented on MGEE. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MGE Energy in a report on Friday, May 8th. Wall Street Zen raised shares of MGE Energy from a “sell” rating to a “hold” rating in a report on Sunday, March 8th. Finally, Morgan Stanley restated an “underweight” rating and set a $70.00 price objective on shares of MGE Energy in a research report on Thursday, May 21st. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $75.50.

MGE Energy Stock Performance

Shares of MGE Energy stock opened at $75.66 on Monday. The business has a fifty day simple moving average of $77.27 and a two-hundred day simple moving average of $78.60. MGE Energy has a 1 year low of $72.16 and a 1 year high of $91.49. The company has a market capitalization of $2.78 billion, a price-to-earnings ratio of 19.40 and a beta of 0.73. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.15 and a quick ratio of 0.83.

MGE Energy (NASDAQ:MGEE) last released its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $1.32 EPS for the quarter, beating the consensus estimate of $1.13 by $0.19. The firm had revenue of $242.70 million for the quarter, compared to the consensus estimate of $227.06 million. MGE Energy had a net margin of 18.61% and a return on equity of 10.94%. Research analysts forecast that MGE Energy will post 3.94 EPS for the current year.

Insider Activity

In related news, Director James G. Berbee purchased 373 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The shares were bought at an average price of $77.74 per share, for a total transaction of $28,997.02. Following the completion of the transaction, the director owned 9,362 shares of the company’s stock, valued at approximately $727,801.88. This trade represents a 4.15% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On MGE Energy

A number of large investors have recently bought and sold shares of the company. Tudor Investment Corp ET AL lifted its stake in MGE Energy by 20.8% during the third quarter. Tudor Investment Corp ET AL now owns 97,520 shares of the utilities provider’s stock worth $8,209,000 after purchasing an additional 16,786 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of MGE Energy in the 3rd quarter valued at $1,628,000. Speece Thorson Capital Group Inc. increased its stake in shares of MGE Energy by 44.3% in the 4th quarter. Speece Thorson Capital Group Inc. now owns 195,596 shares of the utilities provider’s stock valued at $15,339,000 after purchasing an additional 60,037 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of MGE Energy by 49.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 84,700 shares of the utilities provider’s stock worth $7,130,000 after buying an additional 27,899 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of MGE Energy by 369.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 40,409 shares of the utilities provider’s stock worth $3,169,000 after buying an additional 31,795 shares during the last quarter. 52.58% of the stock is currently owned by institutional investors and hedge funds.

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.