MGE Energy (MGEE) Lifted to “Hold” at BidaskClub

BidaskClub upgraded shares of MGE Energy (NASDAQ:MGEE) from a sell rating to a hold rating in a report issued on Wednesday morning.

NASDAQ MGEE opened at $56.30 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.95 and a current ratio of 2.30. MGE Energy has a 52-week low of $51.05 and a 52-week high of $68.70. The stock has a market cap of $1,969.16, a P/E ratio of 25.47 and a beta of 0.30.

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MGE Energy (NASDAQ:MGEE) last released its quarterly earnings results on Friday, February 23rd. The utilities provider reported $0.45 earnings per share (EPS) for the quarter. MGE Energy had a return on equity of 10.28% and a net margin of 17.33%. The firm had revenue of $140.27 million for the quarter. analysts predict that MGE Energy will post 2.3 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Thursday, March 1st were issued a dividend of $0.322 per share. This represents a $1.29 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend was Wednesday, February 28th. MGE Energy’s dividend payout ratio is currently 57.85%.

In related news, insider Jeffrey M. Keebler purchased 627 shares of the stock in a transaction that occurred on Tuesday, March 13th. The shares were purchased at an average price of $55.73 per share, with a total value of $34,942.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James G. Berbee purchased 449 shares of the stock in a transaction that occurred on Tuesday, March 13th. The shares were bought at an average cost of $55.73 per share, for a total transaction of $25,022.77. Following the acquisition, the director now owns 449 shares of the company’s stock, valued at $25,022.77. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 1,260 shares of company stock worth $69,955. Corporate insiders own 0.20% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MGEE. SG Americas Securities LLC grew its holdings in shares of MGE Energy by 191.4% during the third quarter. SG Americas Securities LLC now owns 9,842 shares of the utilities provider’s stock worth $636,000 after buying an additional 6,464 shares during the last quarter. Macquarie Group Ltd. boosted its holdings in MGE Energy by 70.2% in the 3rd quarter. Macquarie Group Ltd. now owns 16,000 shares of the utilities provider’s stock valued at $1,034,000 after purchasing an additional 6,600 shares in the last quarter. American International Group Inc. boosted its holdings in MGE Energy by 8.1% in the 3rd quarter. American International Group Inc. now owns 23,441 shares of the utilities provider’s stock valued at $1,514,000 after purchasing an additional 1,753 shares in the last quarter. Legal & General Group Plc boosted its holdings in MGE Energy by 11.8% in the 3rd quarter. Legal & General Group Plc now owns 35,406 shares of the utilities provider’s stock valued at $2,291,000 after purchasing an additional 3,741 shares in the last quarter. Finally, Virginia Retirement Systems ET AL boosted its holdings in MGE Energy by 61.6% in the 3rd quarter. Virginia Retirement Systems ET AL now owns 20,200 shares of the utilities provider’s stock valued at $1,305,000 after purchasing an additional 7,700 shares in the last quarter. 39.12% of the stock is currently owned by hedge funds and other institutional investors.

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MGE Energy Company Profile

MGE Energy, Inc, through its subsidiaries, operates as a public utility holding company primarily in Wisconsin. It operates through five segments: Regulated Electric Utility Operations; Regulated Gas Utility Operations; Nonregulated Energy Operations; Transmission Investments; and All Other. The company generates, purchases, and distributes electricity; owns or leases electric generation facilities located in Wisconsin and Iowa; and plans, constructs, operates, maintains, and expands transmission facilities to provide transmission services.

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