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

Key Points

• MGE Energy shares hit a new 52-week low, falling to approximately $71.20 and trading 2.1% lower, below both their 50-day and 200-day moving averages.
• Analyst sentiment remains mixed, with ratings ranging from buy to sell; the stock carries a consensus “Hold” rating and an average price target of $76.
• The company beat quarterly EPS estimates ($0.89 versus $0.77) and increased its quarterly dividend to $0.5083 per share, equivalent to an annualized $2.03 dividend and a 2.9% yield.

MGE Energy Inc. (NASDAQ:MGEE - Get Free Report) hit a new 52-week low during trading on Wednesday . The company traded as low as $71.42 and last traded at $71.1950, with a volume of 4230 shares traded. The stock had previously closed at $72.86.

Analyst Ratings Changes

Several analysts recently weighed in on MGEE shares. Weiss Ratings restated a "hold (c)" rating on shares of MGE Energy in a research report on Wednesday, August 5th. LADENBURG THALM/SH SH upgraded shares of MGE Energy from a "neutral" rating to a "buy" rating and set a $81.00 target price on the stock in a research report on Monday, June 8th. Wall Street Zen lowered shares of MGE Energy from a "hold" rating to a "sell" rating in a report on Saturday. Finally, Morgan Stanley decreased their price target on MGE Energy from $74.00 to $71.00 and set an "underweight" rating for the company in a research note on Friday, September 18th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $76.00.

MGE Energy Trading Down 2.1%

The firm has a fifty day simple moving average of $79.10 and a 200-day simple moving average of $78.16. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.14 and a quick ratio of 0.79. The firm has a market cap of $2.69 billion, a P/E ratio of 17.54 and a beta of 0.70.

MGE Energy (NASDAQ:MGEE - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The utilities provider reported $0.89 EPS for the quarter, beating analysts' consensus estimates of $0.77 by $0.12. The business had revenue of $161.19 million during the quarter, compared to analyst estimates of $166.37 million. MGE Energy had a net margin of 19.45% and a return on equity of 11.10%. On average, equities research analysts expect that MGE Energy Inc. will post 3.99 earnings per share for the current year.

MGE Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were issued a dividend of $0.5083 per share. This represents a $2.03 annualized dividend and a yield of 2.9%. This is an increase from MGE Energy's previous quarterly dividend of $0.47. The ex-dividend date was Tuesday, September 1st. MGE Energy's dividend payout ratio is currently 49.88%.

Hedge Funds Weigh In On MGE Energy

Large investors have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. lifted its position in MGE Energy by 1.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 10,379 shares of the utilities provider's stock valued at $846,000 after purchasing an additional 138 shares in the last quarter. Glenmede Trust Co. NA increased its position in MGE Energy by 3.5% in the first quarter. Glenmede Trust Co. NA now owns 4,356 shares of the utilities provider's stock worth $337,000 after buying an additional 148 shares in the last quarter. Hantz Financial Services Inc. increased its position in MGE Energy by 63.8% in the fourth quarter. Hantz Financial Services Inc. now owns 416 shares of the utilities provider's stock worth $33,000 after buying an additional 162 shares in the last quarter. Savant Capital LLC raised its stake in shares of MGE Energy by 1.4% in the fourth quarter. Savant Capital LLC now owns 12,459 shares of the utilities provider's stock worth $977,000 after buying an additional 172 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake in shares of MGE Energy by 4.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,671 shares of the utilities provider's stock worth $366,000 after buying an additional 181 shares during the period. 52.58% of the stock is currently owned by institutional investors.

About MGE Energy

MGE Energy, Inc is a public utility holding company headquartered in Madison, Wisconsin. Its principal subsidiary, Madison Gas and Electric Company (MG&E), provides electric and natural gas service to residential, commercial and industrial customers in south-central Wisconsin.

The company's operations include generating, purchasing, transmitting and distributing electricity, as well as distributing natural gas. MGE Energy's generation portfolio includes renewable resources such as wind and solar, along with other generation and purchased-power arrangements.

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