MGE Energy (NASDAQ:MGEE) Given New $86.50 Price Target at LADENBURG THALM/SH SH

MGE Energy (NASDAQ:MGEE) had its price objective lifted by equities research analysts at LADENBURG THALM/SH SH from $81.00 to $86.50 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the utilities provider’s stock. LADENBURG THALM/SH SH‘s price target would suggest a potential upside of 7.77% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. Freedom Broker raised shares of MGE Energy from a “hold” rating to a “buy” rating and raised their price target for the stock from $79.00 to $87.00 in a report on Friday. Jefferies Financial Group set a $87.00 price objective on shares of MGE Energy in a research note on Thursday. Morgan Stanley increased 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. JPMorgan Chase & Co. started coverage on MGE Energy in a research note on Thursday, October 15th. They issued a “neutral” rating and a $76.00 target price on the stock. Finally, Bank of America assumed coverage on MGE Energy in a research note on Thursday, September 24th. They issued a “neutral” rating and a $76.00 target price on the stock. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $80.75.

MGE Energy Price Performance

Shares of NASDAQ MGEE opened at $80.26 on Friday. The company has a quick ratio of 0.73, a current ratio of 1.09 and a debt-to-equity ratio of 0.59. MGE Energy has a 52 week low of $68.01 and a 52 week high of $85.29. The firm’s fifty day moving average is $73.57 and its 200 day moving average is $77.52. The company has a market cap of $3.04 billion, a price-to-earnings ratio of 18.54, a PEG ratio of 4.48 and a beta of 0.68.

MGE Energy (NASDAQ:MGEE) last posted its quarterly earnings results on Wednesday, November 4th. The utilities provider reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.30. The company had revenue of $190.40 million during the quarter, compared to analyst estimates of $184.59 million. MGE Energy had a net margin of 20.60% and a return on equity of 11.59%. On average, equities research analysts expect that MGE Energy will post 4.02 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in shares of MGE Energy in the 2nd quarter worth about $496,897,000. Bank of New York Mellon Corp bought a new stake in shares of MGE Energy during the 2nd quarter valued at about $27,087,000. Legal & General Group Plc bought a new stake in shares of MGE Energy during the 2nd quarter valued at about $15,443,000. Principal Financial Group Inc. boosted its stake in shares of MGE Energy by 2.1% during the 1st quarter. Principal Financial Group Inc. now owns 178,194 shares of the utilities provider’s stock valued at $13,773,000 after purchasing an additional 3,710 shares in the last quarter. Finally, ProShare Advisors LLC increased its position in shares of MGE Energy by 34.2% during the third quarter. ProShare Advisors LLC now owns 123,853 shares of the utilities provider’s stock valued at $8,602,000 after buying an additional 31,572 shares during the period. 52.58% of the stock is owned by hedge funds and other institutional investors.

MGE Energy Company Profile

MGE Energy, Inc is a public utility holding company based in Madison, Wisconsin. Its principal subsidiary, Madison Gas and Electric Company (MGE), provides electric and natural gas service to customers in Madison and surrounding communities in south-central Wisconsin.

MGE’s operations include generating and purchasing electricity, delivering power through its electric system, and distributing natural gas. The company also invests in energy-related businesses, including projects that support renewable energy and other power-generation resources.

The company traces its roots to Madison Gas Light Company, established in 1855.