MGE Energy (NASDAQ:MGEE) Sets New 12-Month Low - Here's Why

Key Points

• MGE Energy reached a new 52-week low of $82.48 during trading, down from its previous close of $83.65.
• Recent analyst updates include a downgrade by Wall Street Zen from "buy" to "hold" and a price target reduction by Morgan Stanley from $75.00 to $74.00.
• The company declared a quarterly dividend of $0.45, with an annualized payout of $1.80 and a yield of 2.1%.

Shares of MGE Energy Inc. (NASDAQ:MGEE - Get Free Report) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $82.82 and last traded at $82.48, with a volume of 43399 shares. The stock had previously closed at $83.65.

Analysts Set New Price Targets

A number of equities analysts have issued reports on MGEE shares. LADENBURG THALM/SH SH upgraded MGE Energy to a "strong sell" rating in a report on Friday, May 9th. Wall Street Zen cut MGE Energy from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Finally, Morgan Stanley decreased their price objective on MGE Energy from $75.00 to $74.00 and set an "underweight" rating for the company in a report on Thursday, May 22nd.

MGE Energy Price Performance

The company has a market cap of $3.10 billion, a P/E ratio of 23.98 and a beta of 0.76. The company has a fifty day moving average price of $88.04 and a two-hundred day moving average price of $89.79. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.49 and a current ratio of 2.07.

MGE Energy (NASDAQ:MGEE - Get Free Report) last issued its earnings results on Wednesday, May 7th. The utilities provider reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.16. MGE Energy had a net margin of 18.22% and a return on equity of 10.58%. The business had revenue of $218.97 million during the quarter, compared to the consensus estimate of $202.42 million. On average, sell-side analysts anticipate that MGE Energy Inc. will post 3.43 earnings per share for the current fiscal year.

MGE Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, June 15th. Investors of record on Sunday, June 1st were issued a dividend of $0.45 per share. The ex-dividend date was Friday, May 30th. This represents a $1.80 dividend on an annualized basis and a yield of 2.1%. MGE Energy's dividend payout ratio (DPR) is presently 50.85%.

Hedge Funds Weigh In On MGE Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Creative Financial Designs Inc. ADV grew its holdings in MGE Energy by 1.8% during the first quarter. Creative Financial Designs Inc. ADV now owns 7,215 shares of the utilities provider's stock worth $671,000 after purchasing an additional 126 shares during the period. Xponance Inc. grew its holdings in MGE Energy by 5.1% during the first quarter. Xponance Inc. now owns 2,725 shares of the utilities provider's stock worth $253,000 after purchasing an additional 131 shares during the period. EnRich Financial Partners LLC grew its holdings in MGE Energy by 8.7% during the fourth quarter. EnRich Financial Partners LLC now owns 1,744 shares of the utilities provider's stock worth $164,000 after purchasing an additional 139 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its holdings in MGE Energy by 47.3% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 526 shares of the utilities provider's stock worth $47,000 after purchasing an additional 169 shares during the period. Finally, Summit Investment Advisors Inc. grew its holdings in MGE Energy by 4.7% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,814 shares of the utilities provider's stock worth $358,000 after purchasing an additional 172 shares during the period. Institutional investors own 52.58% of the company's stock.

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.