MGE Energy (NASDAQ:MGEE) Issues Quarterly Earnings Results

Key Points

• Earnings beat: MGE Energy reported Q results of $1.32 EPS versus a $1.13 consensus and revenue of $242.7M versus $227.06M, with a net margin of 18.27% and return on equity of 10.60%.
• The stock traded at $80.56 (up $0.45) with a market cap of $2.96B and a P/E of 21.65, sitting in a 52-week range of $72.17 to $94.00 and near its 50- and 200-day moving averages.
• A director purchased 373 shares (insiders own 0.41%) while institutions hold 52.58% of the stock, and analysts show an average rating of “Reduce” with a consensus price target of $80.50.

MGE Energy (NASDAQ:MGEE - Get Free Report) released its quarterly earnings results on Tuesday. The utilities provider reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.19, FiscalAI reports. MGE Energy had a net margin of 18.27% and a return on equity of 10.60%. The business had revenue of $242.70 million for the quarter, compared to the consensus estimate of $227.06 million.

MGE Energy Price Performance

NASDAQ MGEE traded up $0.45 on Tuesday, reaching $80.56. The company had a trading volume of 42,143 shares, compared to its average volume of 171,105. The company has a quick ratio of 0.55, a current ratio of 0.77 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $2.96 billion, a PE ratio of 21.65 and a beta of 0.76. The firm's 50 day moving average price is $78.47 and its 200 day moving average price is $80.10. MGE Energy has a 12 month low of $72.17 and a 12 month high of $94.00.

Insider Transactions at MGE Energy

In related news, Director James G. Berbee purchased 373 shares of MGE Energy stock in a transaction on Wednesday, March 11th. The shares were bought at an average cost of $77.74 per share, for a total transaction of $28,997.02. Following the acquisition, the director owned 9,362 shares in the company, valued at approximately $727,801.88. The trade was a 4.15% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.41% of the company's stock.

Hedge Funds Weigh In On MGE Energy

A number of institutional investors and hedge funds have recently made changes to their positions in MGEE. Advisory Services Network LLC purchased a new position in shares of MGE Energy in the 3rd quarter worth $40,000. Parallel Advisors LLC boosted its stake in shares of MGE Energy by 28.6% during the 3rd quarter. Parallel Advisors LLC now owns 714 shares of the utilities provider's stock worth $60,000 after purchasing an additional 159 shares during the period. UMB Bank n.a. boosted its stake in shares of MGE Energy by 807.2% during the 4th quarter. UMB Bank n.a. now owns 1,261 shares of the utilities provider's stock worth $99,000 after purchasing an additional 1,122 shares during the period. Kestra Advisory Services LLC purchased a new position in shares of MGE Energy during the 4th quarter worth about $100,000. Finally, Smartleaf Asset Management LLC boosted its stake in shares of MGE Energy by 19.1% during the 2nd quarter. Smartleaf Asset Management LLC now owns 1,326 shares of the utilities provider's stock worth $117,000 after purchasing an additional 213 shares during the period. 52.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Wall Street Zen upgraded shares of MGE Energy from a "sell" rating to a "hold" rating in a research report on Sunday, March 8th. Morgan Stanley restated an "underweight" rating on shares of MGE Energy in a research report on Monday, April 27th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, MGE Energy currently has an average rating of "Reduce" and a consensus price target of $80.50.

MGE Energy Company Profile

MGE Energy, Inc is a public utility holding company headquartered in Madison, Wisconsin. Through its principal subsidiary, Madison Gas and Electric Company (MGE), the company provides regulated electric and natural gas distribution services to residential, commercial and industrial customers in south-central Wisconsin. MGE Energy's operations encompass the generation, transmission and distribution of electricity as well as the purchase and distribution of natural gas, with an emphasis on reliable service and system resilience.

Since reorganizing as a holding company in 2001, MGE Energy has expanded its portfolio to include nonregulated subsidiaries involved in renewable energy development, energy services and infrastructure support.

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