MGE Energy (NASDAQ:MGEE) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Shares of MGE Energy Inc. (NASDAQ:MGEE) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $78.23 and traded as high as $82.18. MGE Energy shares last traded at $81.54, with a volume of 554,937 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on MGEE shares. Morgan Stanley restated an “underweight” rating on shares of MGE Energy in a report on Wednesday, June 24th. LADENBURG THALM/SH SH upgraded shares of MGE Energy from a “neutral” rating to a “buy” rating and set a $81.00 target price for the company in a research note on Monday, June 8th. Wall Street Zen raised shares of MGE Energy from a “sell” rating to a “hold” rating in a report on Sunday, March 8th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of MGE Energy in a research report on Friday, May 8th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, MGE Energy presently has a consensus rating of “Hold” and a consensus price target of $75.50.

MGE Energy Stock Performance

The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $3.00 billion, a PE ratio of 20.91 and a beta of 0.73. The business has a 50 day simple moving average of $76.96 and a 200 day simple moving average of $78.23.

MGE Energy (NASDAQ:MGEE) last issued its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.19. MGE Energy had a return on equity of 10.94% and a net margin of 18.61%.The business had revenue of $242.70 million for the quarter, compared to analyst estimates of $227.06 million. Equities research analysts predict that MGE Energy Inc. will post 3.98 EPS for the current fiscal year.

MGE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid a $0.475 dividend. The ex-dividend date was Monday, June 1st. This represents a $1.90 dividend on an annualized basis and a yield of 2.3%. MGE Energy’s dividend payout ratio (DPR) is 48.72%.

Institutional Trading of MGE Energy

Several large investors have recently bought and sold shares of the stock. Glenmede Trust Co. NA increased its stake in MGE Energy by 3.5% during the 1st quarter. Glenmede Trust Co. NA now owns 4,356 shares of the utilities provider’s stock valued at $337,000 after purchasing an additional 148 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of MGE Energy by 50.2% during the first quarter. Bank of America Corp DE now owns 99,834 shares of the utilities provider’s stock worth $7,716,000 after buying an additional 33,384 shares during the period. Quantinno Capital Management LP grew its holdings in shares of MGE Energy by 17.6% during the first quarter. Quantinno Capital Management LP now owns 12,496 shares of the utilities provider’s stock valued at $966,000 after buying an additional 1,872 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of MGE Energy by 46.0% during the first quarter. Renaissance Technologies LLC now owns 67,600 shares of the utilities provider’s stock valued at $5,225,000 after buying an additional 21,300 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of MGE Energy by 12.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 122,768 shares of the utilities provider’s stock valued at $9,489,000 after acquiring an additional 13,610 shares during the period. Hedge funds and other institutional investors own 52.58% of the company’s stock.

MGE Energy Company Profile

MGE Energy, Inc is a public utility holding company headquartered in Madison, Wisconsin. Through its principal subsidiary, Madison Gas and Electric Company (MGE), the company provides regulated electric and natural gas distribution services to residential, commercial and industrial customers in south-central Wisconsin. MGE Energy’s operations encompass the generation, transmission and distribution of electricity as well as the purchase and distribution of natural gas, with an emphasis on reliable service and system resilience.

Since reorganizing as a holding company in 2001, MGE Energy has expanded its portfolio to include nonregulated subsidiaries involved in renewable energy development, energy services and infrastructure support.