MGE Energy (NASDAQ:MGEE) Sets New 52-Week High – Time to Buy?

Shares of MGE Energy, Inc. (NASDAQ:MGEE) reached a new 52-week high during trading on Wednesday . The stock traded as high as $93.67 and last traded at $93.55, with a volume of 12422 shares traded. The stock had previously closed at $91.90.

Analyst Ratings Changes

Separately, Morgan Stanley boosted their price target on shares of 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 Stock Down 2.0 %

The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.90 and a current ratio of 1.32. The firm has a market capitalization of $3.35 billion, a price-to-earnings ratio of 27.87 and a beta of 0.70. The firm has a fifty day moving average price of $88.78 and a 200 day moving average price of $82.57.

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

MGE Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st were given a dividend of $0.45 per share. This is a positive change from MGE Energy’s previous quarterly dividend of $0.43. This represents a $1.80 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend was Friday, August 30th. MGE Energy’s dividend payout ratio is presently 54.22%.

Institutional Investors Weigh In On MGE Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Creative Planning grew its holdings in shares of MGE Energy by 3.4% in the 3rd quarter. Creative Planning now owns 8,517 shares of the utilities provider’s stock worth $779,000 after acquiring an additional 284 shares during the period. Exchange Traded Concepts LLC boosted its position in MGE Energy by 1.1% during the third quarter. Exchange Traded Concepts LLC now owns 19,636 shares of the utilities provider’s stock worth $1,796,000 after purchasing an additional 217 shares in the last quarter. Security National Bank grew its holdings in MGE Energy by 444.8% in the third quarter. Security National Bank now owns 3,269 shares of the utilities provider’s stock valued at $299,000 after purchasing an additional 2,669 shares during the last quarter. GAMMA Investing LLC increased its position in shares of MGE Energy by 134.1% in the third quarter. GAMMA Investing LLC now owns 1,573 shares of the utilities provider’s stock valued at $144,000 after buying an additional 901 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of MGE Energy by 143.8% during the 3rd quarter. SG Americas Securities LLC now owns 9,910 shares of the utilities provider’s stock worth $906,000 after buying an additional 5,846 shares during the last quarter. 52.58% of the stock is currently 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.