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

MGE Energy Inc. (NASDAQ:MGEE)’s share price reached a new 52-week low during trading on Monday . The stock traded as low as $77.29 and last traded at $77.10, with a volume of 14578 shares. The stock had previously closed at $78.44.

Analyst Ratings Changes

Several equities analysts have recently issued reports on MGEE shares. Morgan Stanley reaffirmed an “underweight” rating on shares of MGE Energy in a report on Wednesday, October 22nd. Weiss Ratings reissued a “hold (c+)” rating on shares of MGE Energy in a research report on Monday, December 29th. Finally, LADENBURG THALM/SH SH upgraded MGE Energy from a “sell” rating to a “neutral” rating and upped their price objective for the company from $69.00 to $83.00 in a research note on Thursday, September 11th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $79.00.

MGE Energy Stock Performance

The stock has a market capitalization of $2.86 billion, a P/E ratio of 21.23 and a beta of 0.83. The company has a 50 day simple moving average of $80.85 and a 200-day simple moving average of $83.85. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.91 and a quick ratio of 0.59.

MGE Energy (NASDAQ:MGEE) last posted its quarterly earnings results on Wednesday, November 5th. The utilities provider reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.03. MGE Energy had a return on equity of 10.65% and a net margin of 18.55%.The company had revenue of $175.68 million during the quarter. On average, equities analysts forecast that MGE Energy Inc. will post 3.43 EPS for the current year.

MGE Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were paid a $0.475 dividend. The ex-dividend date was Monday, December 1st. This represents a $1.90 annualized dividend and a dividend yield of 2.4%. MGE Energy’s dividend payout ratio (DPR) is presently 51.49%.

Institutional Trading of MGE Energy

A number of institutional investors have recently modified their holdings of the business. Geode Capital Management LLC grew its stake in MGE Energy by 1.8% in the 2nd quarter. Geode Capital Management LLC now owns 912,735 shares of the utilities provider’s stock valued at $80,737,000 after buying an additional 15,762 shares in the last quarter. First Trust Advisors LP lifted its position in shares of MGE Energy by 2.3% during the third quarter. First Trust Advisors LP now owns 511,382 shares of the utilities provider’s stock worth $43,048,000 after acquiring an additional 11,432 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of MGE Energy by 1.3% in the second quarter. Bank of New York Mellon Corp now owns 350,726 shares of the utilities provider’s stock worth $31,018,000 after acquiring an additional 4,599 shares during the period. Invesco Ltd. grew its position in shares of MGE Energy by 14.3% in the second quarter. Invesco Ltd. now owns 238,747 shares of the utilities provider’s stock valued at $21,115,000 after purchasing an additional 29,811 shares in the last quarter. Finally, Legal & General Group Plc grew its position in shares of MGE Energy by 2.9% in the second quarter. Legal & General Group Plc now owns 210,602 shares of the utilities provider’s stock valued at $18,626,000 after purchasing an additional 6,001 shares in the last quarter. 52.58% of the stock is currently owned by hedge funds and other institutional investors.

MGE Energy Company Profile

MGE Energy, Inc is a public utility holding company headquartered in Madison, Wisconsin. Through its principal subsidiary, Madison Gas and Electric Company (MGE), the company provides regulated electric and natural gas distribution services to residential, commercial and industrial customers in south-central Wisconsin. MGE Energy’s operations encompass the generation, transmission and distribution of electricity as well as the purchase and distribution of natural gas, with an emphasis on reliable service and system resilience.

Since reorganizing as a holding company in 2001, MGE Energy has expanded its portfolio to include nonregulated subsidiaries involved in renewable energy development, energy services and infrastructure support.