MGE Energy (NASDAQ:MGEE) Stock Gets Price Target Bump from LADENBURG THALM/SH SH

Key Points

• LADENBURG THALM/SH SH raised its price target for MGE Energy to $86.50 from $81 and maintained a Buy rating, implying 7.77% upside from the stock’s current price.
• Analyst sentiment is mixed: MarketBeat’s consensus rating is Hold, with a $80.75 average target; two analysts rate the stock Buy, three Hold, and one Sell.
• MGE Energy beat quarterly expectations, reporting EPS of $1.48 versus the $1.18 estimate and revenue of $190.4 million versus $184.59 million expected.

MGE Energy (NASDAQ:MGEE - Get Free Report) had its price target hoisted by investment analysts at LADENBURG THALM/SH SH from $81.00 to $86.50 in a research note issued on Friday, Benzinga reports. The firm presently has a "buy" rating on the utilities provider's stock. LADENBURG THALM/SH SH's price objective points to a potential upside of 7.77% from the stock's current price.

Other equities analysts have also issued reports about the company. JPMorgan Chase & Co. started coverage on MGE Energy in a research note on Thursday, October 15th. They issued a "neutral" rating and a $76.00 target price on the stock. Jefferies Financial Group set a $87.00 price target on MGE Energy in a research report on Thursday. Weiss Ratings reissued a "hold (c)" rating on shares of MGE Energy in a report on Tuesday, November 3rd. Freedom Broker upgraded shares of MGE Energy from a "hold" rating to a "buy" rating and upped their price objective for the stock from $79.00 to $87.00 in a research report on Friday. Finally, Wall Street Zen upgraded shares of MGE Energy from a "sell" rating to a "hold" rating in a research report on Saturday, October 10th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $80.75.

MGE Energy Price Performance

Shares of NASDAQ:MGEE opened at $80.26 on Friday. The firm has a fifty day moving average price of $73.57 and a two-hundred day moving average price of $77.52. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.09 and a quick ratio of 0.73. MGE Energy has a one year low of $68.01 and a one year high of $85.29. The company has a market cap of $3.04 billion, a price-to-earnings ratio of 18.54, a PEG ratio of 4.48 and a beta of 0.68.

MGE Energy (NASDAQ:MGEE - Get Free Report) last released its quarterly earnings results on Wednesday, November 4th. The utilities provider reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.30. MGE Energy had a net margin of 20.60% and a return on equity of 11.59%. The firm had revenue of $190.40 million for the quarter, compared to analysts' expectations of $184.59 million. Analysts anticipate that MGE Energy will post 4.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in MGE Energy during the second quarter valued at about $496,897,000. Bank of New York Mellon Corp purchased a new position in shares of MGE Energy in the second quarter worth about $27,087,000. Legal & General Group Plc purchased a new position in shares of MGE Energy in the second quarter worth about $15,443,000. Principal Financial Group Inc. increased its holdings in shares of MGE Energy by 2.1% in the first quarter. Principal Financial Group Inc. now owns 178,194 shares of the utilities provider's stock worth $13,773,000 after buying an additional 3,710 shares during the period. Finally, ProShare Advisors LLC lifted its stake in shares of MGE Energy by 34.2% in the 3rd quarter. ProShare Advisors LLC now owns 123,853 shares of the utilities provider's stock valued at $8,602,000 after acquiring an additional 31,572 shares during the last quarter. Institutional investors own 52.58% of the company's stock.

About MGE Energy

MGE Energy, Inc is a public utility holding company based in Madison, Wisconsin. Its principal subsidiary, Madison Gas and Electric Company (MGE), provides electric and natural gas service to customers in Madison and surrounding communities in south-central Wisconsin.

MGE's operations include generating and purchasing electricity, delivering power through its electric system, and distributing natural gas. The company also invests in energy-related businesses, including projects that support renewable energy and other power-generation resources.

The company traces its roots to Madison Gas Light Company, established in 1855.

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