LADENBURG THALM/SH SH Issues Positive Forecast for MGE Energy (NASDAQ:MGEE) Stock Price

MGE Energy (NASDAQ:MGEE) had its target price upped by LADENBURG THALM/SH SH from $81.00 to $86.50 in a research report report published on Friday,Benzinga reports. They currently have a buy rating on the utilities provider’s stock.

A number of other equities research analysts have also recently weighed in on MGEE. Morgan Stanley boosted their price target on shares of MGE Energy from $71.00 to $72.00 and gave the company an “underweight” rating in a research report on Wednesday, October 21st. Bank of America began coverage on MGE Energy in a report on Thursday, September 24th. They set a “neutral” rating and a $76.00 price objective on the stock. Wall Street Zen raised MGE Energy from a “sell” rating to a “hold” rating in a report on Saturday, October 10th. Freedom Broker raised MGE Energy from a “hold” rating to a “buy” rating and raised their price target for the stock from $79.00 to $87.00 in a report on Friday. Finally, JPMorgan Chase & Co. initiated coverage on shares of MGE Energy in a research note on Thursday, October 15th. They issued a “neutral” rating and a $76.00 price objective on the stock. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $80.75.

MGE Energy Stock Performance

Shares of MGE Energy stock opened at $80.26 on Friday. The firm has a market capitalization of $3.04 billion, a P/E ratio of 18.54, a P/E/G ratio of 4.48 and a beta of 0.68. MGE Energy has a 52 week low of $68.01 and a 52 week high of $85.29. The company has a quick ratio of 0.73, a current ratio of 1.09 and a debt-to-equity ratio of 0.59. The firm’s 50 day moving average is $73.57 and its two-hundred day moving average is $77.52.

MGE Energy (NASDAQ:MGEE) last issued its quarterly earnings data on Wednesday, November 4th. The utilities provider reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.30. The business had revenue of $190.40 million during the quarter, compared to the consensus estimate of $184.59 million. MGE Energy had a net margin of 20.60% and a return on equity of 11.59%. Research analysts forecast that MGE Energy will post 4.02 EPS for the current fiscal year.

MGE Energy Announces Dividend

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

Institutional Investors Weigh In On MGE Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of MGEE. BlackRock Inc. purchased a new stake in shares of MGE Energy in the 2nd quarter worth about $496,897,000. Bank of New York Mellon Corp purchased a new position in MGE Energy during the 2nd quarter valued at about $27,087,000. Legal & General Group Plc acquired a new position in MGE Energy during the second quarter worth about $15,443,000. Principal Financial Group Inc. raised its position in MGE Energy by 2.1% during the first quarter. Principal Financial Group Inc. now owns 178,194 shares of the utilities provider’s stock worth $13,773,000 after acquiring an additional 3,710 shares during the last quarter. Finally, ProShare Advisors LLC lifted its holdings in shares of MGE Energy by 34.2% in the third quarter. ProShare Advisors LLC now owns 123,853 shares of the utilities provider’s stock valued at $8,602,000 after purchasing an additional 31,572 shares in the last quarter. Institutional investors and hedge funds own 52.58% of the company’s stock.

MGE Energy Company Profile

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

MGE’s operations include generating and purchasing electricity, delivering power through its electric system, and distributing natural gas. The company also invests in energy-related businesses, including projects that support renewable energy and other power-generation resources.

The company traces its roots to Madison Gas Light Company, established in 1855.