MGE Energy (NASDAQ:MGEE) Price Target Cut to $74.00 by Analysts at Morgan Stanley

MGE Energy (NASDAQ:MGEE) had its target price reduced by stock analysts at Morgan Stanley from $75.00 to $74.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “underweight” rating on the utilities provider’s stock. Morgan Stanley’s price target suggests a potential downside of 17.77% from the stock’s previous close.

Separately, LADENBURG THALM/SH SH upgraded shares of MGE Energy to a “strong sell” rating in a research note on Friday, May 9th.

MGE Energy Stock Up 0.5%

Shares of MGE Energy stock opened at $89.99 on Thursday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.41 and a quick ratio of 0.94. The company has a 50-day moving average of $90.72 and a 200 day moving average of $93.48. The firm has a market cap of $3.29 billion, a price-to-earnings ratio of 27.52 and a beta of 0.80. MGE Energy has a 1 year low of $72.27 and a 1 year high of $109.22.

MGE Energy (NASDAQ:MGEE) last issued its quarterly earnings results on Wednesday, May 7th. The utilities provider reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.16. The company had revenue of $218.97 million during the quarter, compared to analyst estimates of $202.42 million. MGE Energy had a net margin of 17.70% and a return on equity of 10.18%. As a group, sell-side analysts anticipate that MGE Energy will post 3.43 earnings per share for the current fiscal year.

Insider Buying and Selling at MGE Energy

In related news, Director James G. Berbee purchased 446 shares of MGE Energy stock in a transaction dated Wednesday, March 12th. The stock was purchased at an average cost of $90.83 per share, for a total transaction of $40,510.18. Following the completion of the purchase, the director now directly owns 11,532 shares of the company’s stock, valued at $1,047,451.56. The trade was a 4.02% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.19% of the stock is owned by company insiders.

Institutional Trading of MGE Energy

Large investors have recently made changes to their positions in the stock. Sterling Capital Management LLC grew its stake in shares of MGE Energy by 656.2% in the fourth quarter. Sterling Capital Management LLC now owns 673 shares of the utilities provider’s stock worth $63,000 after acquiring an additional 584 shares during the period. Smartleaf Asset Management LLC grew its stake in shares of MGE Energy by 507.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,112 shares of the utilities provider’s stock worth $105,000 after acquiring an additional 929 shares during the period. Focus Partners Wealth bought a new stake in shares of MGE Energy in the fourth quarter worth approximately $116,000. KBC Group NV grew its stake in shares of MGE Energy by 32.2% in the fourth quarter. KBC Group NV now owns 1,478 shares of the utilities provider’s stock worth $139,000 after acquiring an additional 360 shares during the period. Finally, MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of MGE Energy in the first quarter worth approximately $139,000. 52.58% of the stock is currently owned by institutional investors.

About MGE Energy

MGE Energy, Inc, through its subsidiaries, operates as a public utility holding company primarily in the United States. It operates through Regulated Electric Utility Operations; Regulated Gas Utility Operations; Nonregulated Energy Operations; Transmission Investments; and All Other segments. The company generates, purchases, and distributes electricity and natural gas in Wisconsin and Iowa; owns and leases electric generating capacity; and plans, constructs, operates, maintains, and expands transmission facilities to provide transmission power services.