MGE Energy (MGEE) Lifted to Buy at BidaskClub

BidaskClub upgraded shares of MGE Energy (NASDAQ:MGEE) from a hold rating to a buy rating in a report released on Friday morning.

Separately, ValuEngine cut shares of MGE Energy from a hold rating to a sell rating in a research report on Tuesday, May 22nd.

MGE Energy opened at $61.30 on Friday, Marketbeat.com reports. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.00 and a current ratio of 2.34. The firm has a market cap of $2.12 billion, a PE ratio of 27.49 and a beta of 0.32. MGE Energy has a fifty-two week low of $51.05 and a fifty-two week high of $68.70.

MGE Energy (NASDAQ:MGEE) last posted its quarterly earnings data on Tuesday, May 8th. The utilities provider reported $0.58 earnings per share for the quarter. The firm had revenue of $157.63 million for the quarter. MGE Energy had a net margin of 17.43% and a return on equity of 10.19%.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 15th. Investors of record on Friday, June 1st were given a $0.3225 dividend. This represents a $1.29 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date was Thursday, May 31st. This is a boost from MGE Energy’s previous quarterly dividend of $0.32. MGE Energy’s dividend payout ratio (DPR) is presently 57.85%.

Large investors have recently modified their holdings of the stock. Landscape Capital Management L.L.C. purchased a new position in MGE Energy in the 4th quarter worth $365,000. Raymond James & Associates purchased a new position in MGE Energy in the 4th quarter worth $395,000. A.R.T. Advisors LLC purchased a new position in MGE Energy in the 1st quarter worth $428,000. GSA Capital Partners LLP purchased a new position in MGE Energy in the 1st quarter worth $429,000. Finally, Citadel Advisors LLC raised its position in MGE Energy by 156.7% in the 4th quarter. Citadel Advisors LLC now owns 8,144 shares of the utilities provider’s stock worth $514,000 after purchasing an additional 4,971 shares during the period. Institutional investors own 39.64% of the company’s stock.

About MGE Energy

MGE Energy, Inc, through its subsidiaries, operates as a public utility holding company primarily in Wisconsin. It operates through five segments: Regulated Electric Utility Operations; Regulated Gas Utility Operations; Nonregulated Energy Operations; Transmission Investments; and All Other. The company generates, purchases, and distributes electricity; owns or leases electric generation facilities located in Wisconsin and Iowa; and plans, constructs, operates, maintains, and expands transmission facilities to provide transmission services.

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