MGE Energy Inc. (NASDAQ:MGEE) Stock Rated "Hold" by Sell-Side Brokerages

Key Points

• Analysts’ consensus rating is “Hold”: Of six analysts covering MGE Energy, three rate it Hold, two Buy and one Sell; the average one-year price target is $79.83.
• MGE Energy reported quarterly EPS of $1.48, topping the $1.18 consensus estimate, and revenue of $190.4 million versus forecasts of $184.59 million.
• The company announced a quarterly dividend of $0.5083 per share, equivalent to about $2.03 annually and a 2.5% yield.

Shares of MGE Energy Inc. (NASDAQ:MGEE - Get Free Report) have received an average recommendation of "Hold" from the six analysts that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $79.83.

A number of equities analysts have recently commented on the stock. Jefferies Financial Group set a $87.00 target price on shares of MGE Energy in a research report on Thursday. Morgan Stanley lifted their price target on shares of MGE Energy from $71.00 to $72.00 and gave the company an "underweight" rating in a research note on Wednesday, October 21st. Freedom Broker upgraded MGE Energy from a "hold" rating to a "buy" rating and boosted their price target for the company from $79.00 to $87.00 in a report on Friday. Weiss Ratings reiterated a "hold (c)" rating on shares of MGE Energy in a report on Tuesday, November 3rd. Finally, Bank of America initiated coverage on MGE Energy in a research note on Thursday, September 24th. They issued a "neutral" rating and a $76.00 price objective on the stock.

Institutional Investors Weigh In On MGE Energy

Hedge funds have recently made changes to their positions in the company. Bank of America Corp DE purchased a new position in MGE Energy in the second quarter valued at about $6,752,000. ProShare Advisors LLC raised its holdings in MGE Energy by 34.2% in the third quarter. ProShare Advisors LLC now owns 123,853 shares of the utilities provider's stock worth $8,602,000 after purchasing an additional 31,572 shares in the last quarter. Deutsche Bank AG bought a new position in MGE Energy in the second quarter worth about $4,160,000. BlackRock Inc. purchased a new stake in shares of MGE Energy during the second quarter valued at about $496,897,000. Finally, Sei Investments Co. lifted its position in shares of MGE Energy by 193.5% during the first quarter. Sei Investments Co. now owns 32,857 shares of the utilities provider's stock valued at $2,540,000 after buying an additional 21,663 shares during the last quarter. 52.58% of the stock is currently owned by hedge funds and other institutional investors.

MGE Energy Stock Performance

NASDAQ MGEE opened at $80.26 on Monday. The stock has a market cap of $3.04 billion, a PE ratio of 18.54, a PEG ratio of 4.48 and a beta of 0.68. MGE Energy has a 12 month low of $68.01 and a 12 month high of $85.29. The company's 50-day moving average price is $73.57 and its 200-day moving average price is $77.52. The company has a current ratio of 1.09, a quick ratio of 0.73 and a debt-to-equity ratio of 0.59.

MGE Energy (NASDAQ:MGEE - Get Free Report) last announced its quarterly earnings data on Wednesday, November 4th. The utilities provider reported $1.48 earnings per share for the quarter, beating analysts' consensus estimates of $1.18 by $0.30. The company had revenue of $190.40 million during the quarter, compared to analyst estimates of $184.59 million. MGE Energy had a net margin of 20.60% and a return on equity of 11.59%. Equities research analysts forecast that MGE Energy will post 4.02 earnings per share for the current year.

MGE Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be given a dividend of $0.5083 per share. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $2.03 dividend on an annualized basis and a yield of 2.5%. MGE Energy's payout ratio is 46.88%.

MGE Energy Company Profile

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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