Zacks: MGE Energy, Inc. (MGEE) Receives Consensus Rating of “Hold” from Analysts

MGE Energy, Inc. (NASDAQ:MGEE) has received a consensus broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating.

Zacks has also assigned MGE Energy an industry rank of 224 out of 265 based on the ratings given to its competitors.

A number of equities research analysts have issued reports on MGEE shares. Gabelli reiterated a “hold” rating on shares of MGE Energy in a research note on Monday, November 13th. BidaskClub lowered MGE Energy from a “hold” rating to a “sell” rating in a research note on Thursday, December 7th.

Shares of MGE Energy (NASDAQ MGEE) opened at $55.85 on Wednesday. MGE Energy has a 12 month low of $54.80 and a 12 month high of $68.70. The company has a quick ratio of 2.47, a current ratio of 3.02 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $1,930.00, a price-to-earnings ratio of 25.50 and a beta of 0.24.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be given a dividend of $0.322 per share. The ex-dividend date is Wednesday, February 28th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 2.31%. MGE Energy’s payout ratio is 58.90%.

Several institutional investors have recently modified their holdings of MGEE. Principal Financial Group Inc. grew its position in shares of MGE Energy by 45.7% during the second quarter. Principal Financial Group Inc. now owns 17,753 shares of the utilities provider’s stock valued at $1,143,000 after purchasing an additional 5,566 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of MGE Energy by 15.4% during the second quarter. Wells Fargo & Company MN now owns 72,807 shares of the utilities provider’s stock valued at $4,686,000 after purchasing an additional 9,692 shares in the last quarter. TIAA CREF Investment Management LLC grew its position in shares of MGE Energy by 7.3% during the second quarter. TIAA CREF Investment Management LLC now owns 101,722 shares of the utilities provider’s stock valued at $6,546,000 after purchasing an additional 6,927 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of MGE Energy by 24.3% during the second quarter. Ameriprise Financial Inc. now owns 13,193 shares of the utilities provider’s stock valued at $849,000 after purchasing an additional 2,581 shares in the last quarter. Finally, Nationwide Fund Advisors grew its position in shares of MGE Energy by 4.1% during the second quarter. Nationwide Fund Advisors now owns 30,018 shares of the utilities provider’s stock valued at $1,932,000 after purchasing an additional 1,169 shares in the last quarter. Hedge funds and other institutional investors own 38.27% of the company’s stock.

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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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