MGE Energy (NASDAQ:MGEE) Trading Down 4.2% – Should You Sell?

MGE Energy, Inc. (NASDAQ:MGEE) dropped 4.2% during trading on Wednesday . The stock traded as low as $90.28 and last traded at $90.19. Approximately 34,114 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 124,504 shares. The stock had previously closed at $94.18.

Analyst Ratings Changes

Several research firms recently weighed in on MGEE. Morgan Stanley increased their price objective on shares of MGE Energy from $71.00 to $74.00 and gave the stock an “underweight” rating in a research note on Wednesday, September 25th. LADENBURG THALM/SH SH raised MGE Energy to a “strong sell” rating in a report on Thursday, December 12th.

MGE Energy Stock Performance

The company has a current ratio of 1.41, a quick ratio of 0.94 and a debt-to-equity ratio of 0.60. The company’s 50-day moving average is $97.78 and its two-hundred day moving average is $91.72. The stock has a market capitalization of $3.17 billion, a P/E ratio of 26.78 and a beta of 0.76.

MGE Energy (NASDAQ:MGEE) last issued its quarterly earnings data on Wednesday, November 6th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by ($0.04). MGE Energy had a return on equity of 10.18% and a net margin of 17.70%. The business had revenue of $168.48 million for the quarter, compared to analyst estimates of $163.82 million. As a group, sell-side analysts anticipate that MGE Energy, Inc. will post 3.43 EPS for the current fiscal year.

MGE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 15th. Investors of record on Saturday, March 1st will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend is Friday, February 28th. MGE Energy’s dividend payout ratio is currently 55.05%.

Hedge Funds Weigh In On MGE Energy

Several large investors have recently bought and sold shares of MGEE. Merit Financial Group LLC lifted its stake in shares of MGE Energy by 1.7% in the 4th quarter. Merit Financial Group LLC now owns 7,079 shares of the utilities provider’s stock worth $665,000 after acquiring an additional 116 shares during the period. Covestor Ltd raised its holdings in MGE Energy by 37.3% during the third quarter. Covestor Ltd now owns 453 shares of the utilities provider’s stock worth $42,000 after purchasing an additional 123 shares in the last quarter. Bank of Montreal Can lifted its position in MGE Energy by 1.6% in the second quarter. Bank of Montreal Can now owns 9,149 shares of the utilities provider’s stock worth $705,000 after purchasing an additional 140 shares during the period. Inspire Investing LLC boosted its stake in MGE Energy by 3.2% during the 2nd quarter. Inspire Investing LLC now owns 4,702 shares of the utilities provider’s stock valued at $351,000 after purchasing an additional 144 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. increased its position in shares of MGE Energy by 88.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 357 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 168 shares during the period. Institutional investors and hedge funds own 52.58% of the company’s stock.

About MGE Energy

MGE Energy, Inc, through its subsidiaries, operates as a public utility holding company primarily in the United States. It operates through Regulated Electric Utility Operations; Regulated Gas Utility Operations; Nonregulated Energy Operations; Transmission Investments; and All Other segments. The company generates, purchases, and distributes electricity and natural gas in Wisconsin and Iowa; owns and leases electric generating capacity; and plans, constructs, operates, maintains, and expands transmission facilities to provide transmission power services.