MGE Energy (NASDAQ:MGEE) Announces Earnings Results

MGE Energy (NASDAQ:MGEE) issued its earnings results on Tuesday. The utilities provider reported $0.64 earnings per share for the quarter, hitting the consensus estimate of $0.64, FiscalAI reports. MGE Energy had a return on equity of 10.65% and a net margin of 18.55%.The firm had revenue of $189.55 million for the quarter.

MGE Energy Price Performance

Shares of MGE Energy stock opened at $82.56 on Wednesday. The firm’s 50-day moving average price is $79.57 and its two-hundred day moving average price is $82.13. The company has a current ratio of 0.91, a quick ratio of 0.59 and a debt-to-equity ratio of 0.57. MGE Energy has a 1-year low of $76.47 and a 1-year high of $95.00. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of 22.37 and a beta of 0.82.

MGE Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, March 15th. Stockholders of record on Sunday, March 1st will be paid a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Friday, February 27th. MGE Energy’s payout ratio is currently 51.49%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MGEE. Weiss Ratings restated a “hold (c+)” rating on shares of MGE Energy in a research report on Monday, December 29th. Morgan Stanley dropped their price target on MGE Energy from $74.00 to $73.00 and set an “underweight” rating on the stock in a research report on Monday, February 2nd. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $78.00.

Institutional Investors Weigh In On MGE Energy

A number of institutional investors and hedge funds have recently made changes to their positions in MGEE. Advisory Services Network LLC acquired a new stake in shares of MGE Energy during the third quarter worth $40,000. Parallel Advisors LLC increased its holdings in MGE Energy by 28.6% during the 3rd quarter. Parallel Advisors LLC now owns 714 shares of the utilities provider’s stock worth $60,000 after purchasing an additional 159 shares in the last quarter. UMB Bank n.a. lifted its stake in MGE Energy by 807.2% in the 4th quarter. UMB Bank n.a. now owns 1,261 shares of the utilities provider’s stock valued at $99,000 after acquiring an additional 1,122 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in MGE Energy in the 4th quarter valued at $100,000. Finally, Smartleaf Asset Management LLC increased its position in shares of MGE Energy by 19.1% during the 2nd quarter. Smartleaf Asset Management LLC now owns 1,326 shares of the utilities provider’s stock worth $117,000 after purchasing an additional 213 shares during the last quarter. Institutional investors own 52.58% of the company’s stock.

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.