MGE Energy (NASDAQ:MGEE) Lifted to “Hold” at StockNews.com

StockNews.com upgraded shares of MGE Energy (NASDAQ:MGEE) from a sell rating to a hold rating in a report released on Tuesday morning.

Separately, TheStreet downgraded shares of MGE Energy from a b rating to a c+ rating in a research note on Tuesday, January 30th.

MGE Energy Trading Up 1.5 %

Shares of MGEE opened at $78.72 on Tuesday. The firm has a market cap of $2.85 billion, a price-to-earnings ratio of 24.22 and a beta of 0.70. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.05 and a current ratio of 1.52. MGE Energy has a fifty-two week low of $61.94 and a fifty-two week high of $83.27. The firm has a 50 day moving average price of $69.65 and a 200-day moving average price of $71.35.

MGE Energy (NASDAQ:MGEE) last issued its earnings results on Wednesday, February 21st. The utilities provider reported $0.55 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.06). MGE Energy had a return on equity of 10.49% and a net margin of 17.05%. The firm had revenue of $164.65 million during the quarter, compared to analysts’ expectations of $190.55 million. As a group, equities research analysts forecast that MGE Energy will post 3.68 earnings per share for the current year.

MGE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a dividend of $0.428 per share. This represents a $1.71 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend was Thursday, February 29th. MGE Energy’s payout ratio is currently 52.62%.

Insider Buying and Selling at MGE Energy

In related news, Director James G. Berbee acquired 458 shares of MGE Energy stock in a transaction on Wednesday, March 6th. The shares were acquired at an average cost of $82.16 per share, with a total value of $37,629.28. Following the transaction, the director now owns 9,725 shares in the company, valued at $799,006. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.23% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Captrust Financial Advisors increased its position in MGE Energy by 14.7% during the 2nd quarter. Captrust Financial Advisors now owns 913 shares of the utilities provider’s stock valued at $71,000 after purchasing an additional 117 shares during the period. Zebra Capital Management LLC grew its position in shares of MGE Energy by 2.2% in the 1st quarter. Zebra Capital Management LLC now owns 5,914 shares of the utilities provider’s stock worth $472,000 after buying an additional 126 shares during the period. FMR LLC grew its position in shares of MGE Energy by 8.2% in the 2nd quarter. FMR LLC now owns 1,676 shares of the utilities provider’s stock worth $130,000 after buying an additional 127 shares during the period. Arizona State Retirement System grew its position in shares of MGE Energy by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 10,296 shares of the utilities provider’s stock worth $705,000 after buying an additional 138 shares during the period. Finally, Franklin Resources Inc. grew its position in shares of MGE Energy by 4.1% in the 2nd quarter. Franklin Resources Inc. now owns 3,579 shares of the utilities provider’s stock worth $283,000 after buying an additional 140 shares during the period. 52.58% of the stock is owned by hedge funds and other institutional investors.

MGE Energy Company Profile

MGE Energy, Inc, through its subsidiaries, operates as a public utility holding company primarily in the United States. It operates through Regulated Electric Utility Operations; Regulated Gas Utility Operations; Nonregulated Energy Operations; Transmission Investments; and All Other segments. The company generates, purchases, and distributes electricity and natural gas in Wisconsin and Iowa; owns and leases electric generating capacity; and plans, constructs, operates, maintains, and expands transmission facilities to provide transmission power services.