MGE Energy (NASDAQ:MGEE) Share Price Passes Above 200 Day Moving Average – Here’s Why

MGE Energy Inc. (NASDAQ:MGEE) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $78.41 and traded as high as $82.53. MGE Energy shares last traded at $82.17, with a volume of 145,671 shares trading hands.

Analysts Set New Price Targets

MGEE has been the topic of a number of research analyst reports. LADENBURG THALM/SH SH upgraded shares of MGE Energy from a “neutral” rating to a “buy” rating and set a $81.00 price objective on the stock in a research report on Monday, June 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MGE Energy in a research report on Friday, May 8th. Finally, Morgan Stanley reiterated an “underweight” rating on shares of MGE Energy in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $75.50.

MGE Energy Trading Up 0.5%

The stock has a 50 day moving average of $77.48 and a 200-day moving average of $78.41. The company has a market capitalization of $3.02 billion, a P/E ratio of 21.07 and a beta of 0.71. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 0.65.

MGE Energy (NASDAQ:MGEE) last issued its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.32 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $227.06 million. On average, research analysts predict that MGE Energy Inc. will post 3.98 EPS for the current year.

MGE Energy Announces Dividend

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

Institutional Trading of MGE Energy

Large investors have recently made changes to their positions in the business. Deprince Race & Zollo Inc. bought a new position in shares of MGE Energy during the 1st quarter valued at approximately $21,418,000. Qube Research & Technologies Ltd lifted its position in MGE Energy by 167.5% in the third quarter. Qube Research & Technologies Ltd now owns 162,217 shares of the utilities provider’s stock worth $13,655,000 after buying an additional 101,586 shares during the last quarter. Jane Street Group LLC lifted its position in MGE Energy by 718.5% in the first quarter. Jane Street Group LLC now owns 75,007 shares of the utilities provider’s stock worth $6,973,000 after buying an additional 65,843 shares during the last quarter. Speece Thorson Capital Group Inc. lifted its position in MGE Energy by 44.3% in the fourth quarter. Speece Thorson Capital Group Inc. now owns 195,596 shares of the utilities provider’s stock worth $15,339,000 after buying an additional 60,037 shares during the last quarter. Finally, Two Sigma Investments LP increased its position in MGE Energy by 181.1% during the third quarter. Two Sigma Investments LP now owns 80,758 shares of the utilities provider’s stock valued at $6,798,000 after acquiring an additional 52,031 shares during the last quarter. 52.58% of the stock is currently owned by institutional investors.

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.