MGE Energy (NASDAQ:MGEE) Sets New 12-Month High – What’s Next?

MGE Energy, Inc. (NASDAQ:MGEE) hit a new 52-week high during trading on Wednesday . The stock traded as high as $95.63 and last traded at $96.54, with a volume of 32354 shares traded. The stock had previously closed at $90.81.

Analyst Ratings Changes

Separately, Morgan Stanley increased their price target on shares of MGE Energy from $71.00 to $74.00 and gave the company an “underweight” rating in a report on Wednesday, September 25th.

MGE Energy Stock Performance

The stock has a market capitalization of $3.52 billion, a price-to-earnings ratio of 30.51 and a beta of 0.71. The company has a quick ratio of 0.90, a current ratio of 1.32 and a debt-to-equity ratio of 0.61. The firm has a fifty day moving average of $90.01 and a 200-day moving average of $83.92.

MGE Energy (NASDAQ:MGEE) last posted its earnings results on Wednesday, August 7th. The utilities provider reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.29). The business had revenue of $145.71 million for the quarter, compared to analysts’ expectations of $151.29 million. MGE Energy had a net margin of 17.45% and a return on equity of 10.04%. As a group, sell-side analysts anticipate that MGE Energy, Inc. will post 3.69 EPS for the current year.

MGE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend is Friday, November 29th. MGE Energy’s payout ratio is currently 56.43%.

Hedge Funds Weigh In On MGE Energy

Institutional investors have recently made changes to their positions in the stock. Assetmark Inc. purchased a new position in shares of MGE Energy during the third quarter valued at approximately $35,000. Covestor Ltd lifted its holdings in shares of MGE Energy by 37.3% during the 3rd quarter. Covestor Ltd now owns 453 shares of the utilities provider’s stock worth $42,000 after acquiring an additional 123 shares during the period. Quest Partners LLC grew its holdings in MGE Energy by 5,088.9% in the second quarter. Quest Partners LLC now owns 467 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 458 shares during the period. GAMMA Investing LLC increased its position in MGE Energy by 244.6% during the second quarter. GAMMA Investing LLC now owns 672 shares of the utilities provider’s stock worth $50,000 after purchasing an additional 477 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new position in MGE Energy during the second quarter worth approximately $58,000. 52.58% of the stock is owned by institutional investors and hedge funds.

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.