MGE Energy (NASDAQ:MGEE) Stock Crosses Above 200-Day Moving Average – What’s Next?

Shares of MGE Energy Inc. (NASDAQ:MGEE) crossed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $77.52 and traded as high as $78.08. MGE Energy shares last traded at $77.59, with a volume of 255,953 shares.

Analyst Upgrades and Downgrades

MGEE has been the topic of a number of recent analyst reports. Freedom Broker raised shares of MGE Energy from a “hold” rating to a “buy” rating and upped their price target for the stock from $79.00 to $87.00 in a research note on Friday. Bank of America initiated coverage on shares of MGE Energy in a report on Thursday, September 24th. They set a “neutral” rating and a $76.00 price objective on the stock. JPMorgan Chase & Co. started coverage on shares of MGE Energy in a research report on Thursday, October 15th. They set a “neutral” rating and a $76.00 target price on the stock. Jefferies Financial Group set a $87.00 target price on shares of MGE Energy in a report on Thursday. Finally, Wall Street Zen upgraded shares of MGE Energy from a “sell” rating to a “hold” rating in a research report on Saturday, October 10th. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, MGE Energy currently has an average rating of “Hold” and a consensus price target of $79.83.

MGE Energy Trading Up 2.4%

The company has a debt-to-equity ratio of 0.61, a current ratio of 1.14 and a quick ratio of 0.79. The business’s 50-day simple moving average is $73.57 and its two-hundred day simple moving average is $77.52. The stock has a market capitalization of $3.03 billion, a price-to-earnings ratio of 18.54, a PEG ratio of 4.20 and a beta of 0.68.

MGE Energy (NASDAQ:MGEE) last issued its quarterly earnings results on Wednesday, November 4th. The utilities provider reported $1.48 EPS for the quarter, topping the consensus estimate of $1.18 by $0.30. The business had revenue of $190.40 million for the quarter, compared to analysts’ expectations of $184.59 million. MGE Energy had a net margin of 19.45% and a return on equity of 11.10%. On average, research analysts anticipate that MGE Energy Inc. will post 4.02 earnings per share for the current fiscal year.

MGE Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be paid a dividend of $0.5083 per share. This represents a $2.03 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Tuesday, December 1st. MGE Energy’s payout ratio is 46.88%.

Institutional Investors Weigh In On MGE Energy

Several hedge funds have recently modified their holdings of MGEE. Avalon Trust Co acquired a new stake in shares of MGE Energy in the 2nd quarter worth about $49,000. Highland Investment Advisors LLC bought a new position in shares of MGE Energy in the second quarter worth $60,000. Versant Capital Management Inc grew its stake in MGE Energy by 60.3% during the second quarter. Versant Capital Management Inc now owns 744 shares of the utilities provider’s stock valued at $61,000 after acquiring an additional 280 shares in the last quarter. Johnson Financial Group Inc. bought a new stake in MGE Energy during the second quarter valued at $76,000. Finally, IFP Advisors Inc raised its stake in MGE Energy by 41.3% in the second quarter. IFP Advisors Inc now owns 1,308 shares of the utilities provider’s stock valued at $107,000 after purchasing an additional 382 shares in the last quarter. 52.58% of the stock is owned by institutional investors.

About MGE Energy

MGE Energy, Inc is a public utility holding company headquartered in Madison, Wisconsin. Its principal subsidiary, Madison Gas and Electric Company (MG&E), provides electric and natural gas service to customers in Madison and surrounding communities in south-central Wisconsin.

MG&E generates, purchases, transmits and distributes electricity, while also distributing natural gas. The company serves residential, commercial and industrial customers and offers related energy services, including programs focused on energy efficiency, electrification and renewable energy.

Madison Gas and Electric traces its history to 1855, and MGE Energy was established as the parent company of the utility in 1999.