MGE Energy (NASDAQ:MGEE) Stock Price Crosses Above 200-Day Moving Average – Should You Sell?

MGE Energy Inc. (NASDAQ:MGEE)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $78.51 and traded as high as $81.26. MGE Energy shares last traded at $80.80, with a volume of 222,452 shares.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. LADENBURG THALM/SH SH raised shares of MGE Energy from a “neutral” rating to a “buy” rating and set a $81.00 target price on the stock in a research note on Monday, June 8th. Weiss Ratings reissued a “hold (c)” rating on shares of MGE Energy in a research report on Friday, May 8th. Finally, Morgan Stanley reissued an “underweight” rating on shares of MGE Energy in a report on Wednesday, June 24th. One equities research 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. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $75.50.

MGE Energy Stock Performance

The business has a fifty day moving average of $78.04 and a 200-day moving average of $78.51. The company has a market cap of $2.97 billion, a PE ratio of 20.72 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 released its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.19. The business had revenue of $242.70 million during the quarter, compared to analysts’ expectations of $227.06 million. MGE Energy had a return on equity of 10.94% and a net margin of 18.61%. Equities research analysts anticipate that MGE Energy Inc. will post 3.98 earnings per share for the current fiscal year.

MGE Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Monday, June 1st. MGE Energy’s dividend payout ratio is currently 48.72%.

Institutional Trading of MGE Energy

Large investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC raised its holdings in MGE Energy by 18.8% in the 1st quarter. AQR Capital Management LLC now owns 8,275 shares of the utilities provider’s stock worth $769,000 after purchasing an additional 1,312 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of MGE Energy by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,707 shares of the utilities provider’s stock valued at $2,018,000 after purchasing an additional 954 shares in the last quarter. United Services Automobile Association bought a new stake in shares of MGE Energy during the 1st quarter valued at about $220,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of MGE Energy by 18.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 86,608 shares of the utilities provider’s stock valued at $8,051,000 after buying an additional 13,715 shares during the period. Finally, Jane Street Group LLC increased its position in shares of MGE Energy by 718.5% during the first quarter. Jane Street Group LLC now owns 75,007 shares of the utilities provider’s stock valued at $6,973,000 after buying an additional 65,843 shares during the period. Institutional investors own 52.58% of the company’s stock.

About MGE Energy

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.