MGE Energy (NASDAQ:MGEE) Sets New 12-Month High – Here’s What Happened

MGE Energy, Inc. (NASDAQ:MGEE) hit a new 52-week high on Wednesday . The stock traded as high as $95.63 and last traded at $96.54, with a volume of 32354 shares. The stock had previously closed at $90.81.

Analyst Ratings Changes

Separately, Morgan Stanley upped their price target on MGE Energy from $71.00 to $74.00 and gave the stock an “underweight” rating in a report on Wednesday, September 25th.

MGE Energy Trading Up 4.3 %

The company has a 50-day moving average price of $90.45 and a 200-day moving average price of $84.11. The firm has a market capitalization of $3.67 billion, a price-to-earnings ratio of 31.05 and a beta of 0.71. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.90 and a current ratio of 1.32.

MGE Energy (NASDAQ:MGEE) last released its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.29). The business had revenue of $145.71 million for the quarter, compared to analyst estimates of $151.29 million. MGE Energy had a return on equity of 10.04% and a net margin of 17.45%. As a group, research analysts forecast that MGE Energy, Inc. will post 3.69 EPS for the current fiscal year.

MGE Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st will be given a dividend of $0.45 per share. The ex-dividend date is Friday, November 29th. This represents a $1.80 annualized dividend and a dividend yield of 1.77%. MGE Energy’s dividend payout ratio is currently 55.05%.

Institutional Trading of MGE Energy

A number of large investors have recently made changes to their positions in the company. Covestor Ltd boosted its position in shares of MGE Energy by 37.3% in the 3rd quarter. Covestor Ltd now owns 453 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 123 shares during the period. Bank of Montreal Can lifted its position in MGE Energy by 1.6% during the 2nd quarter. Bank of Montreal Can now owns 9,149 shares of the utilities provider’s stock worth $705,000 after acquiring an additional 140 shares during the period. Inspire Investing LLC lifted its position in MGE Energy by 3.2% during the 2nd quarter. Inspire Investing LLC now owns 4,702 shares of the utilities provider’s stock worth $351,000 after acquiring an additional 144 shares during the period. Arizona State Retirement System lifted its position in MGE Energy by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 10,126 shares of the utilities provider’s stock worth $757,000 after acquiring an additional 187 shares during the period. Finally, Nisa Investment Advisors LLC lifted its position in MGE Energy by 9.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,566 shares of the utilities provider’s stock worth $192,000 after acquiring an additional 212 shares during the period. 52.58% of the stock is owned by institutional investors and hedge funds.

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.