MGE Energy (NASDAQ:MGEE) Price Target Cut to $74.00 by Analysts at Morgan Stanley

MGE Energy (NASDAQ:MGEE - Get Free Report) had its target price lowered by investment analysts at Morgan Stanley from $75.00 to $74.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an "underweight" rating on the utilities provider's stock. Morgan Stanley's price target would indicate a potential downside of 18.62% from the company's previous close.

Separately, LADENBURG THALM/SH SH upgraded MGE Energy to a "strong sell" rating in a research report on Friday, May 9th.

MGE Energy Stock Performance

Shares of MGE Energy stock traded up $0.95 during midday trading on Thursday, hitting $90.94. The company had a trading volume of 21,807 shares, compared to its average volume of 143,015. MGE Energy has a 1-year low of $72.27 and a 1-year high of $109.22. The business's 50 day simple moving average is $90.67 and its two-hundred day simple moving average is $93.34. The stock has a market cap of $3.32 billion, a PE ratio of 27.81 and a beta of 0.80. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.41 and a quick ratio of 0.94.

MGE Energy (NASDAQ:MGEE - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The utilities provider reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.16. MGE Energy had a net margin of 17.70% and a return on equity of 10.18%. The company had revenue of $218.97 million for the quarter, compared to the consensus estimate of $202.42 million. As a group, equities analysts predict that MGE Energy will post 3.43 EPS for the current fiscal year.

Insider Activity

In other MGE Energy news, Director James G. Berbee bought 446 shares of the firm's stock in a transaction dated Wednesday, March 12th. The shares were acquired at an average cost of $90.83 per share, for a total transaction of $40,510.18. Following the transaction, the director now owns 11,532 shares in the company, valued at approximately $1,047,451.56. The trade was a 4.02% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.19% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sterling Capital Management LLC grew its stake in shares of MGE Energy by 656.2% in the 4th 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 period. Smartleaf Asset Management LLC boosted its stake in MGE Energy by 507.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,112 shares of the utilities provider's stock valued at $105,000 after buying an additional 929 shares in the last quarter. Focus Partners Wealth bought a new stake in MGE Energy in the fourth quarter valued at $116,000. KBC Group NV raised its stake in MGE Energy by 32.2% during the fourth quarter. KBC Group NV now owns 1,478 shares of the utilities provider's stock worth $139,000 after acquiring an additional 360 shares in the last quarter. Finally, MJT & Associates Financial Advisory Group Inc. acquired a new position in MGE Energy during the first quarter worth $139,000. 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.