MGE Energy (NASDAQ:MGEE) Share Price Crosses Above 200 Day Moving Average - What's Next?

Key Points

• MGE Energy’s stock moved above its 200-day moving average, trading as high as $81.26 and last changing hands at $80.80. This technical move came on volume of 222,452 shares.
• The company’s most recent earnings beat expectations, with Q1 EPS of $1.32 versus the $1.13 consensus and revenue of $242.7 million versus estimates of $227.06 million.
• MGE Energy also declared a quarterly dividend of $0.475 per share, implying an annualized yield of about 2.4%. The stock currently has a consensus analyst rating of Hold with a price target of $75.50.

MGE Energy Inc. (NASDAQ:MGEE - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $78.51 and traded as high as $81.26. MGE Energy shares last traded at $80.80, with a volume of 222,452 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on MGEE shares. LADENBURG THALM/SH SH upgraded MGE Energy from a "neutral" rating to a "buy" rating and set a $81.00 price target on the stock in a research report on Monday, June 8th. Morgan Stanley reiterated an "underweight" rating on shares of MGE Energy in a report on Wednesday, June 24th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of MGE Energy in a report on Friday, May 8th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, MGE Energy has a consensus rating of "Hold" and a consensus price target of $75.50.

MGE Energy Trading Down 0.6%

The stock has a market capitalization of $2.97 billion, a P/E ratio of 20.72 and a beta of 0.71. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 0.65. The stock's fifty day moving average price is $78.04 and its two-hundred day moving average price is $78.51.

MGE Energy (NASDAQ:MGEE - Get Free Report) last released its earnings results on Tuesday, May 5th. The utilities provider reported $1.32 EPS for the quarter, beating the consensus estimate of $1.13 by $0.19. The company had revenue of $242.70 million for the quarter, compared to analyst estimates of $227.06 million. MGE Energy had a net margin of 18.61% and a return on equity of 10.94%. Equities research analysts forecast that MGE Energy Inc. will post 3.98 EPS for the current year.

MGE Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a yield of 2.4%. The ex-dividend date was Monday, June 1st. MGE Energy's dividend payout ratio is presently 48.72%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Deprince Race & Zollo Inc. bought a new stake in shares of MGE Energy in the 1st quarter valued at about $21,418,000. Qube Research & Technologies Ltd grew its position in MGE Energy by 167.5% during the 3rd quarter. Qube Research & Technologies Ltd now owns 162,217 shares of the utilities provider's stock worth $13,655,000 after acquiring an additional 101,586 shares during the last quarter. Jane Street Group LLC grew its position in MGE Energy by 718.5% during the 1st quarter. Jane Street Group LLC now owns 75,007 shares of the utilities provider's stock worth $6,973,000 after acquiring an additional 65,843 shares during the last quarter. Speece Thorson Capital Group Inc. grew its position in MGE Energy by 44.3% during the 4th quarter. Speece Thorson Capital Group Inc. now owns 195,596 shares of the utilities provider's stock worth $15,339,000 after acquiring an additional 60,037 shares during the last quarter. Finally, Two Sigma Investments LP increased its stake in MGE Energy by 181.1% in the 3rd quarter. Two Sigma Investments LP now owns 80,758 shares of the utilities provider's stock worth $6,798,000 after purchasing an additional 52,031 shares during the period. Hedge funds and other institutional investors own 52.58% of the company's stock.

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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