MGE Energy (NASDAQ:MGEE) Price Target Lowered to $74.00 at Morgan Stanley

MGE Energy (NASDAQ:MGEE - Get Free Report) had its price objective cut by investment analysts at Morgan Stanley from $75.00 to $74.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an "underweight" rating on the utilities provider's stock. Morgan Stanley's target price points to a potential downside of 17.77% from the company's current price.

Separately, LADENBURG THALM/SH SH raised shares of MGE Energy to a "strong sell" rating in a research note on Friday, May 9th.

MGE Energy Stock Performance

Shares of NASDAQ MGEE traded up $0.46 during midday trading on Thursday, hitting $89.99. The company's stock had a trading volume of 78,053 shares, compared to its average volume of 139,170. The stock has a fifty day moving average price of $90.72 and a 200 day moving average price of $93.45. MGE Energy has a one year low of $72.27 and a one year high of $109.22. The company has a current ratio of 1.41, a quick ratio of 0.94 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $3.29 billion, a price-to-earnings ratio of 27.52 and a beta of 0.80.

MGE Energy (NASDAQ:MGEE - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The utilities provider reported $1.14 EPS for the quarter, beating the consensus estimate of $0.98 by $0.16. The company had revenue of $218.97 million during the quarter, compared to analysts' expectations of $202.42 million. MGE Energy had a net margin of 17.70% and a return on equity of 10.18%. On average, research analysts forecast that MGE Energy will post 3.43 EPS for the current fiscal year.

Insider Buying and Selling at MGE Energy

In related news, Director James G. Berbee bought 446 shares of the company's stock in a transaction on Wednesday, March 12th. The stock was acquired at an average cost of $90.83 per share, for a total transaction of $40,510.18. Following the completion of the transaction, the director now directly owns 11,532 shares in the company, valued at $1,047,451.56. This trade represents a 4.02% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.19% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MGE Energy

Hedge funds have recently bought and sold shares of the stock. Sterling Capital Management LLC lifted its position in MGE Energy by 656.2% during the fourth quarter. Sterling Capital Management LLC now owns 673 shares of the utilities provider's stock valued at $63,000 after purchasing an additional 584 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of MGE Energy by 507.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,112 shares of the utilities provider's stock worth $105,000 after acquiring an additional 929 shares during the last quarter. Focus Partners Wealth bought a new stake in shares of MGE Energy in the 4th quarter worth approximately $116,000. KBC Group NV lifted its holdings in shares of MGE Energy by 32.2% in the 4th quarter. KBC Group NV now owns 1,478 shares of the utilities provider's stock worth $139,000 after acquiring an additional 360 shares during the last quarter. Finally, MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of MGE Energy in the 1st quarter worth approximately $139,000. 52.58% of the stock is currently owned by institutional investors.

About MGE Energy

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.