MGE Energy, Inc. (NASDAQ:MGEE) Director James L. Possin bought 300 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The shares were acquired at an average price of $66.35 per share, with a total value of $19,905.00. Following the completion of the transaction, the director now directly owns 600 shares of the company’s stock, valued at approximately $39,810. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
MGE Energy stock opened at $66.03 on Wednesday. The company has a market cap of $2.37 billion, a price-to-earnings ratio of 25.01, a PEG ratio of 5.93 and a beta of 0.44. The firm’s fifty day moving average is $65.89 and its 200 day moving average is $67.46. The company has a quick ratio of 1.57, a current ratio of 1.99 and a debt-to-equity ratio of 0.56. MGE Energy, Inc. has a 52-week low of $47.19 and a 52-week high of $83.26.
MGE Energy (NASDAQ:MGEE) last released its quarterly earnings results on Thursday, August 6th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.05. The company had revenue of $117.04 million for the quarter. MGE Energy had a net margin of 16.88% and a return on equity of 10.44%. On average, equities research analysts anticipate that MGE Energy, Inc. will post 2.52 earnings per share for the current fiscal year.
Several analysts recently issued reports on MGEE shares. BidaskClub lowered shares of MGE Energy from a “hold” rating to a “sell” rating in a research report on Monday, August 17th. Zacks Investment Research lowered shares of MGE Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, August 18th. Finally, Bank of America assumed coverage on shares of MGE Energy in a research report on Tuesday, May 26th. They issued an “underperform” rating and a $57.00 price target for the company.
Institutional investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc raised its stake in MGE Energy by 33.3% during the second quarter. IFP Advisors Inc now owns 1,600 shares of the utilities provider’s stock valued at $103,000 after purchasing an additional 400 shares in the last quarter. Private Advisor Group LLC bought a new position in MGE Energy during the second quarter valued at $155,000. Tower View Investment Management & Research LLC increased its position in MGE Energy by 44.0% during the first quarter. Tower View Investment Management & Research LLC now owns 2,602 shares of the utilities provider’s stock valued at $170,000 after acquiring an additional 795 shares during the last quarter. Baird Financial Group Inc. bought a new position in MGE Energy during the second quarter valued at $278,000. Finally, GSA Capital Partners LLP bought a new position in MGE Energy during the first quarter valued at $264,000. 44.15% of the stock is currently owned by institutional investors.
MGE Energy Company Profile
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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