Zacks: MGE Energy, Inc. (MGEE) Given Average Recommendation of “Hold” by Brokerages

Shares of MGE Energy, Inc. (NASDAQ:MGEE) have been assigned an average 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 assigned MGE Energy an industry rank of 205 out of 265 based on the ratings given to its competitors.

MGEE has been the subject of several analyst reports. Gabelli reaffirmed a “hold” rating on shares of MGE Energy in a research note on Monday, November 13th. BidaskClub downgraded shares of MGE Energy from a “hold” rating to a “sell” rating in a report on Thursday, December 7th.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Campbell & CO Investment Adviser LLC bought a new position in shares of MGE Energy during the 3rd quarter worth about $320,000. Dynamic Technology Lab Private Ltd bought a new position in shares of MGE Energy during the 2nd quarter worth about $343,000. Landscape Capital Management L.L.C. bought a new position in shares of MGE Energy during the 4th quarter worth about $365,000. Raymond James Financial Services Advisors Inc. increased its holdings in shares of MGE Energy by 58.8% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 6,697 shares of the utilities provider’s stock worth $431,000 after purchasing an additional 2,480 shares during the period. Finally, PNC Financial Services Group Inc. increased its holdings in shares of MGE Energy by 3.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 7,485 shares of the utilities provider’s stock worth $482,000 after purchasing an additional 222 shares during the period. Hedge funds and other institutional investors own 38.55% of the company’s stock.

Shares of MGE Energy (NASDAQ MGEE) traded down $0.20 during trading hours on Wednesday, hitting $55.75. 64,700 shares of the company’s stock were exchanged, compared to its average volume of 84,220. The company has a quick ratio of 2.47, a current ratio of 3.02 and a debt-to-equity ratio of 0.52. MGE Energy has a 52 week low of $54.60 and a 52 week high of $68.70. The firm has a market cap of $1,910.00, a price-to-earnings ratio of 25.14 and a beta of 0.24.

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, March 1st will be issued a $0.322 dividend. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $1.29 annualized dividend and a yield of 2.31%. MGE Energy’s dividend payout ratio (DPR) is presently 58.90%.

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MGE Energy Company Profile

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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