MGE Energy, Inc. (NASDAQ:MGEE – Get Free Report)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $87.37 and last traded at $86.73, with a volume of 17514 shares traded. The stock had previously closed at $85.03.
Analyst Upgrades and Downgrades
MGEE has been the topic of a number of recent research reports. StockNews.com raised MGE Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, May 29th. Morgan Stanley decreased their price objective on MGE Energy from $68.00 to $65.00 and set an “underweight” rating on the stock in a report on Monday, June 24th.
Read Our Latest Report on MGE Energy
MGE Energy Stock Performance
The firm has a market cap of $3.13 billion, a P/E ratio of 26.04 and a beta of 0.70. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.09. The stock’s 50 day moving average is $78.37 and its two-hundred day moving average is $74.91.
MGE Energy (NASDAQ:MGEE – Get Free Report) last posted its earnings results on Wednesday, May 8th. The utilities provider reported $0.93 EPS for the quarter, missing the consensus estimate of $0.94 by ($0.01). MGE Energy had a return on equity of 10.60% and a net margin of 18.12%. The company had revenue of $191.34 million for the quarter, compared to the consensus estimate of $221.46 million. As a group, equities analysts predict that MGE Energy, Inc. will post 3.69 EPS for the current year.
MGE Energy Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Saturday, June 15th. Investors of record on Saturday, June 1st were issued a dividend of $0.428 per share. This represents a $1.71 annualized dividend and a yield of 1.98%. The ex-dividend date was Friday, May 31st. MGE Energy’s dividend payout ratio is currently 51.51%.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of MGE Energy by 12.4% during the first quarter. Vanguard Group Inc. now owns 4,699,072 shares of the utilities provider’s stock worth $369,911,000 after purchasing an additional 518,466 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of MGE Energy by 4,545.3% during the first quarter. Principal Financial Group Inc. now owns 204,066 shares of the utilities provider’s stock worth $16,064,000 after purchasing an additional 199,673 shares in the last quarter. Speece Thorson Capital Group Inc. bought a new stake in shares of MGE Energy during the fourth quarter valued at approximately $6,145,000. Victory Capital Management Inc. increased its holdings in shares of MGE Energy by 5.1% in the fourth quarter. Victory Capital Management Inc. now owns 1,229,511 shares of the utilities provider’s stock valued at $88,906,000 after purchasing an additional 60,190 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new position in MGE Energy in the 1st quarter worth approximately $2,572,000. Institutional investors own 52.58% of the company’s stock.
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.
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