MGE Energy (NASDAQ:MGEE) Rating Increased to Strong Sell at LADENBURG THALM/SH SH

LADENBURG THALM/SH SH upgraded shares of MGE Energy (NASDAQ:MGEE) to a strong sell rating in a research report sent to investors on Monday morning,Zacks.com reports.

MGE Energy Stock Performance

Shares of MGEE opened at $92.65 on Monday. The firm has a market cap of $3.38 billion, a PE ratio of 28.33 and a beta of 0.72. The stock’s fifty day moving average price is $90.77 and its two-hundred day moving average price is $93.38. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.41 and a quick ratio of 0.94. MGE Energy has a 1 year low of $72.27 and a 1 year high of $109.22.

MGE Energy (NASDAQ:MGEE) last issued its earnings results on Tuesday, February 25th. The utilities provider reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.23). The firm had revenue of $171.42 million during the quarter. MGE Energy had a net margin of 17.70% and a return on equity of 10.18%. On average, equities research analysts forecast that MGE Energy will post 3.43 EPS for the current year.

MGE Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Saturday, March 1st were paid a dividend of $0.45 per share. The ex-dividend date was Friday, February 28th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.94%. MGE Energy’s payout ratio is 54.05%.

Insider Activity at MGE Energy

In related news, Director James G. Berbee acquired 446 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were bought at an average cost of $90.83 per share, for a total transaction of $40,510.18. Following the purchase, the director now owns 11,532 shares in the company, valued at $1,047,451.56. This trade represents a 4.02 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.19% of the stock is currently owned by corporate insiders.

Institutional Trading of MGE Energy

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Versant Capital Management Inc raised its stake in shares of MGE Energy by 367.1% during the 4th quarter. Versant Capital Management Inc now owns 327 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 257 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its position in MGE Energy by 88.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 357 shares of the utilities provider’s stock worth $34,000 after buying an additional 168 shares in the last quarter. Sterling Capital Management LLC grew its position in MGE Energy by 656.2% during the fourth quarter. Sterling Capital Management LLC now owns 673 shares of the utilities provider’s stock worth $63,000 after buying an additional 584 shares in the last quarter. Smartleaf Asset Management LLC grew its position in MGE Energy by 507.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,112 shares of the utilities provider’s stock worth $105,000 after buying an additional 929 shares in the last quarter. Finally, Focus Partners Wealth purchased a new position in MGE Energy during the fourth quarter worth about $116,000. 52.58% of the stock is currently owned by institutional investors.

MGE Energy Company Profile

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.