MGE Energy (NASDAQ:MGEE – Get Free Report) posted its quarterly earnings results on Wednesday. The utilities provider reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.30, FiscalAI reports. The business had revenue of $190.40 million for the quarter, compared to analyst estimates of $184.59 million. MGE Energy had a return on equity of 11.10% and a net margin of 19.45%.
MGE Energy Trading Up 4.7%
Shares of MGEE stock traded up $3.47 during trading hours on Wednesday, reaching $77.40. The company’s stock had a trading volume of 127,587 shares, compared to its average volume of 214,083. The stock has a market capitalization of $2.92 billion, a P/E ratio of 19.02, a P/E/G ratio of 4.20 and a beta of 0.68. MGE Energy has a one year low of $68.01 and a one year high of $85.29. The firm’s fifty day simple moving average is $73.58 and its 200 day simple moving average is $77.53. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.61.
MGE Energy Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be given a $0.5083 dividend. This represents a $2.03 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Tuesday, December 1st. MGE Energy’s dividend payout ratio (DPR) is currently 49.88%.
Analysts Set New Price Targets
MGEE has been the subject of several recent research reports. JPMorgan Chase & Co. began coverage on MGE Energy in a research report on Thursday, October 15th. They issued a “neutral” rating and a $76.00 price objective for the company. Morgan Stanley raised their target price on shares of MGE Energy from $71.00 to $72.00 and gave the stock an “underweight” rating in a report on Wednesday, October 21st. Bank of America started coverage on shares of MGE Energy in a research note on Thursday, September 24th. They issued a “neutral” rating and a $76.00 target price on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of MGE Energy in a report on Tuesday. Finally, Wall Street Zen upgraded shares of MGE Energy from a “sell” rating to a “hold” rating in a report on Saturday, October 10th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, MGE Energy has an average rating of “Hold” and a consensus target price of $76.25.
View Our Latest Report on MGE Energy
MGE Energy Company Profile
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 customers in Madison and surrounding communities in south-central Wisconsin.
MG&E generates, purchases, transmits and distributes electricity, while also distributing natural gas. The company serves residential, commercial and industrial customers and offers related energy services, including programs focused on energy efficiency, electrification and renewable energy.
Madison Gas and Electric traces its history to 1855, and MGE Energy was established as the parent company of the utility in 1999.
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