MGE Energy Inc. (MGEE) Receives Average Rating of “Hold” from Analysts
Shares of MGE Energy Inc. (NASDAQ:MGEE) have been given a consensus broker rating score of 3.00 (Hold) from the one analysts that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating.
Zacks has also given MGE Energy an industry rank of 190 out of 265 based on the ratings given to related companies.
MGEE has been the subject of several recent research reports. BidaskClub lowered shares of MGE Energy from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 17th. Zacks Investment Research raised shares of MGE Energy from a “sell” rating to a “hold” rating in a research note on Thursday, September 7th.
Shares of MGE Energy (NASDAQ:MGEE) opened at 65.55 on Wednesday. MGE Energy has a 12 month low of $56.00 and a 12 month high of $68.70. The firm has a market cap of $2.27 billion, a P/E ratio of 29.42 and a beta of 0.34. The company has a 50-day moving average of $65.70 and a 200-day moving average of $65.17.
MGE Energy (NASDAQ:MGEE) last issued its quarterly earnings results on Friday, August 4th. The utilities provider reported $0.45 earnings per share for the quarter. The company had revenue of $126.46 million during the quarter. MGE Energy had a net margin of 13.82% and a return on equity of 10.60%. Equities analysts forecast that MGE Energy will post $2.30 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a $0.3225 dividend. The ex-dividend date is Thursday, November 30th. This represents a $1.29 annualized dividend and a dividend yield of 1.97%. MGE Energy’s dividend payout ratio (DPR) is presently 57.85%.
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In related news, insider Jeffrey M. Keebler acquired 547 shares of the company’s stock in a transaction on Tuesday, September 5th. The shares were purchased at an average price of $64.02 per share, for a total transaction of $35,018.94. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.20% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA increased its stake in shares of MGE Energy by 620.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 6,128 shares of the utilities provider’s stock worth $394,000 after purchasing an additional 5,278 shares during the last quarter. Marshall Wace North America L.P. acquired a new position in shares of MGE Energy during the 2nd quarter worth $1,157,000. Ramsey Quantitative Systems acquired a new position in shares of MGE Energy during the 2nd quarter worth $303,000. Citadel Advisors LLC acquired a new position in shares of MGE Energy during the 2nd quarter worth $798,000. Finally, Legal & General Group Plc increased its stake in shares of MGE Energy by 10.0% during the 2nd quarter. Legal & General Group Plc now owns 31,665 shares of the utilities provider’s stock worth $2,038,000 after purchasing an additional 2,880 shares during the last quarter. Hedge funds and other institutional investors own 37.24% of the company’s stock.
About MGE Energy
MGE Energy, Inc (MGE) is a public utility holding company. The Company operates through five segments: Regulated electric utility operations; Regulated gas utility operations; Nonregulated energy operations; Transmission investments, and All other. The Regulated electric utility operations segment is engaged in generating, purchasing and distributing electricity through Madison Gas and Electric Company (MGE).
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