MGE Energy (NASDAQ:MGEE) Shares Down 4.2% – Here’s Why

MGE Energy, Inc. (NASDAQ:MGEE) shares dropped 4.2% during mid-day trading on Wednesday . The stock traded as low as $90.28 and last traded at $90.19. Approximately 34,114 shares were traded during trading, a decline of 73% from the average daily volume of 124,504 shares. The stock had previously closed at $94.18.

Analysts Set New Price Targets

A number of equities analysts have recently commented on MGEE shares. LADENBURG THALM/SH SH raised shares of MGE Energy to a “strong sell” rating in a research note on Thursday, December 12th. Morgan Stanley boosted their price objective on MGE Energy from $71.00 to $74.00 and gave the stock an “underweight” rating in a research note on Wednesday, September 25th.

MGE Energy Trading Down 7.0 %

The firm has a market capitalization of $3.17 billion, a price-to-earnings ratio of 26.78 and a beta of 0.76. The business’s 50-day moving average price is $97.78 and its 200 day moving average price is $91.72. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.41 and a quick ratio of 0.94.

MGE Energy (NASDAQ:MGEE) last posted its quarterly earnings data on Wednesday, November 6th. The utilities provider reported $1.13 earnings per share for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.04). MGE Energy had a net margin of 17.70% and a return on equity of 10.18%. The firm had revenue of $168.48 million during the quarter, compared to analysts’ expectations of $163.82 million. On average, equities analysts forecast that MGE Energy, Inc. will post 3.43 earnings per share for the current fiscal year.

MGE Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st will be issued a dividend of $0.45 per share. The ex-dividend date is Friday, February 28th. This represents a $1.80 annualized dividend and a yield of 2.06%. MGE Energy’s dividend payout ratio is presently 55.05%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MGEE. Merit Financial Group LLC raised its stake in shares of MGE Energy by 1.7% in the 4th quarter. Merit Financial Group LLC now owns 7,079 shares of the utilities provider’s stock valued at $665,000 after purchasing an additional 116 shares in the last quarter. Covestor Ltd raised its stake in MGE Energy by 37.3% during the third quarter. Covestor Ltd now owns 453 shares of the utilities provider’s stock valued at $42,000 after buying an additional 123 shares in the last quarter. Bank of Montreal Can lifted its holdings 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 buying an additional 140 shares during the last quarter. Inspire Investing LLC lifted its holdings 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 buying an additional 144 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in shares of MGE Energy by 88.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 357 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 168 shares in the last quarter. 52.58% of the stock is currently owned by institutional investors.

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.