MGE Energy (NASDAQ:MGEE) Sets New 12-Month Low – Here’s Why

MGE Energy Inc. (NASDAQ:MGEE)’s share price reached a new 52-week low during trading on Wednesday . The stock traded as low as $81.00 and last traded at $81.07, with a volume of 41341 shares trading hands. The stock had previously closed at $82.16.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MGEE. Wall Street Zen downgraded MGE Energy from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. LADENBURG THALM/SH SH upgraded shares of MGE Energy from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $69.00 to $83.00 in a research report on Thursday, September 11th. Weiss Ratings reissued a “buy (b-)” rating on shares of MGE Energy in a research note on Thursday, November 13th. Finally, Morgan Stanley reaffirmed an “underweight” rating on shares of MGE Energy in a research report on Wednesday, October 22nd. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, MGE Energy has a consensus rating of “Hold” and a consensus price target of $79.00.

MGE Energy Stock Down 1.0%

The firm has a market capitalization of $2.97 billion, a PE ratio of 22.52 and a beta of 0.81. The company has a quick ratio of 1.20, a current ratio of 1.80 and a debt-to-equity ratio of 0.60. The stock has a 50-day simple moving average of $84.04 and a 200-day simple moving average of $86.36.

MGE Energy (NASDAQ:MGEE) last released its quarterly earnings data on Wednesday, November 5th. The utilities provider reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.03. The company had revenue of $175.68 million for the quarter. MGE Energy had a return on equity of 10.58% and a net margin of 18.24%. Analysts forecast that MGE Energy Inc. will post 3.43 EPS for the current year.

MGE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a dividend of $0.475 per share. The ex-dividend date is Monday, December 1st. This represents a $1.90 annualized dividend and a yield of 2.3%. MGE Energy’s dividend payout ratio is currently 51.49%.

Hedge Funds Weigh In On MGE Energy

Hedge funds and other institutional investors have recently made changes to their positions in the business. Hilltop National Bank bought a new position in shares of MGE Energy in the 2nd quarter worth about $41,000. Advisory Services Network LLC purchased a new stake in MGE Energy in the third quarter worth about $40,000. Steward Partners Investment Advisory LLC increased its stake in shares of MGE Energy by 107.3% during the second quarter. Steward Partners Investment Advisory LLC now owns 485 shares of the utilities provider’s stock valued at $43,000 after purchasing an additional 251 shares in the last quarter. Private Trust Co. NA purchased a new position in shares of MGE Energy in the 2nd quarter worth about $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of MGE Energy by 47.3% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 526 shares of the utilities provider’s stock worth $47,000 after buying an additional 169 shares in the last quarter. 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.