MGE Energy (NASDAQ:MGEE) Stock Passes Above 200-Day Moving Average - Time to Sell?

Key Points

• MGE Energy shares moved above their 200-day moving average, trading as high as $82.53 and last changing hands at $82.17. The move comes with the stock now trading above both its 50-day and 200-day averages.
• Analyst sentiment is mixed, with one Buy, one Hold, and one Sell rating, resulting in an overall consensus rating of Hold and an average price target of $75.50. Notably, Ladenburg Thalm/SH SH recently upgraded the stock to Buy with an $81 target.
• The company delivered solid quarterly results and pays a dividend, reporting EPS of $1.32 versus expectations of $1.13 and revenue of $242.7 million versus $227.06 million expected. MGE Energy also paid a quarterly dividend of $0.475 per share, equal to a 2.3% annualized yield.

MGE Energy Inc. (NASDAQ:MGEE - Get Free Report) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $78.41 and traded as high as $82.53. MGE Energy shares last traded at $82.17, with a volume of 145,671 shares.

Wall Street Analyst Weigh In

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

MGE Energy Stock Performance

The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.83 and a current ratio of 1.15. The business has a 50 day moving average price of $77.48 and a two-hundred day moving average price of $78.41. The company has a market cap of $3.02 billion, a P/E ratio of 21.07 and a beta of 0.71.

MGE Energy (NASDAQ:MGEE - Get Free Report) last issued its earnings results on Tuesday, May 5th. The utilities provider reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.19. The firm had revenue of $242.70 million for the quarter, compared to analysts' expectations of $227.06 million. MGE Energy had a net margin of 18.61% and a return on equity of 10.94%. On average, sell-side analysts anticipate that MGE Energy Inc. will post 3.98 earnings per share for the current year.

MGE Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a dividend of $0.475 per share. The ex-dividend date was Monday, June 1st. This represents a $1.90 dividend on an annualized basis and a dividend yield of 2.3%. MGE Energy's dividend payout ratio is 48.72%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Geode Capital Management LLC increased its position in shares of MGE Energy by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 921,952 shares of the utilities provider's stock valued at $72,315,000 after acquiring an additional 3,692 shares in the last quarter. Bank of New York Mellon Corp lifted its position in MGE Energy by 0.6% in the 1st quarter. Bank of New York Mellon Corp now owns 320,415 shares of the utilities provider's stock valued at $24,765,000 after acquiring an additional 1,763 shares in the last quarter. Deprince Race & Zollo Inc. bought a new position in MGE Energy in the 1st quarter valued at approximately $21,418,000. Invesco Ltd. boosted its stake in MGE Energy by 14.3% during the 2nd quarter. Invesco Ltd. now owns 238,747 shares of the utilities provider's stock valued at $21,115,000 after purchasing an additional 29,811 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in MGE Energy by 9.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 216,173 shares of the utilities provider's stock valued at $16,952,000 after purchasing an additional 18,877 shares during the last quarter. 52.58% of the stock is currently owned by institutional investors.

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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