MGE Energy (NASDAQ:MGEE – Free Report) had its price target lowered by Morgan Stanley from $68.00 to $65.00 in a report issued on Monday, Benzinga reports. The firm currently has an underweight rating on the utilities provider’s stock.
Separately, StockNews.com raised MGE Energy from a sell rating to a hold rating in a report on Wednesday, May 29th.
Check Out Our Latest Research Report on MGEE
MGE Energy Trading Up 1.6 %
Shares of MGEE stock opened at $76.78 on Monday. MGE Energy has a 1-year low of $61.94 and a 1-year high of $83.27. The company has a market cap of $2.78 billion, a price-to-earnings ratio of 23.13 and a beta of 0.73. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.09. The stock has a 50 day simple moving average of $78.42 and a 200-day simple moving average of $73.89.
MGE Energy (NASDAQ:MGEE – Get Free Report) last posted its quarterly earnings data on Wednesday, May 8th. The utilities provider reported $0.93 earnings per share for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.01). MGE Energy had a return on equity of 10.60% and a net margin of 18.12%. The company had revenue of $191.34 million for the quarter, compared to analyst estimates of $221.46 million. On average, equities research analysts expect that MGE Energy will post 3.69 EPS for the current fiscal year.
MGE Energy Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Saturday, June 15th. Investors of record on Saturday, June 1st were paid a dividend of $0.428 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $1.71 annualized dividend and a yield of 2.23%. MGE Energy’s dividend payout ratio is presently 51.51%.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in MGEE. Teachers Retirement System of The State of Kentucky purchased a new position in MGE Energy during the first quarter worth approximately $490,000. Cetera Investment Advisers increased its stake in shares of MGE Energy by 360.1% in the 1st quarter. Cetera Investment Advisers now owns 29,622 shares of the utilities provider’s stock worth $2,332,000 after acquiring an additional 23,184 shares during the last quarter. Comerica Bank raised its holdings in shares of MGE Energy by 11,187.2% during the 1st quarter. Comerica Bank now owns 15,012 shares of the utilities provider’s stock worth $1,182,000 after acquiring an additional 14,879 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of MGE Energy by 7.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 52,078 shares of the utilities provider’s stock valued at $4,100,000 after acquiring an additional 3,489 shares during the last quarter. Finally, BOKF NA purchased a new stake in shares of MGE Energy in the first quarter valued at about $152,000. 52.58% of the stock is currently owned by institutional investors and hedge funds.
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.
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Source: defenseworld.net
