MGE Energy (NASDAQ:MGEE) Stock Rating Upgraded by LADENBURG THALM/SH SH

LADENBURG THALM/SH SH upgraded shares of MGE Energy (NASDAQ:MGEE) from a sell rating to a neutral rating in a research note published on Thursday, MarketBeat Ratings reports. The firm currently has $83.00 target price on the utilities provider’s stock, up from their previous target price of $69.00.

Other analysts have also recently issued research reports about the company. Wall Street Zen cut MGE Energy from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Morgan Stanley reissued an “underweight” rating on shares of MGE Energy in a report on Thursday, August 21st. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $78.50.

MGE Energy Trading Down 2.0%

Shares of NASDAQ MGEE opened at $84.26 on Thursday. The stock’s 50 day moving average price is $85.44 and its two-hundred day moving average price is $88.66. MGE Energy has a 52-week low of $82.21 and a 52-week high of $109.22. The stock has a market capitalization of $3.08 billion, a P/E ratio of 23.41 and a beta of 0.80. The company has a quick ratio of 1.20, a current ratio of 1.80 and a debt-to-equity ratio of 0.60.

MGE Energy (NASDAQ:MGEE) last announced its quarterly earnings data on Wednesday, August 6th. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.01). MGE Energy had a net margin of 18.24% and a return on equity of 10.58%. The firm had revenue of $159.45 million for the quarter. On average, analysts anticipate that MGE Energy will post 3.43 earnings per share for the current fiscal year.

MGE Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 1st will be given a $0.475 dividend. The ex-dividend date is Friday, August 29th. This represents a $1.90 annualized dividend and a yield of 2.3%. This is an increase from MGE Energy’s previous quarterly dividend of $0.45. MGE Energy’s payout ratio is 52.78%.

Insider Buying and Selling

In other MGE Energy news, Director James G. Berbee bought 507 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were purchased at an average cost of $83.83 per share, for a total transaction of $42,501.81. Following the transaction, the director directly owned 6,329 shares in the company, valued at $530,560.07. The trade was a 8.71% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

Institutional Trading of MGE Energy

Several large investors have recently added to or reduced their stakes in the business. Creative Financial Designs Inc. ADV increased its position in MGE Energy by 1.8% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 7,215 shares of the utilities provider’s stock valued at $671,000 after acquiring an additional 126 shares during the period. Xponance Inc. increased its position in shares of MGE Energy by 5.1% during the 1st quarter. Xponance Inc. now owns 2,725 shares of the utilities provider’s stock valued at $253,000 after purchasing an additional 131 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of MGE Energy by 47.3% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 526 shares of the utilities provider’s stock valued at $47,000 after purchasing an additional 169 shares during the period. Maryland State Retirement & Pension System increased its position in shares of MGE Energy by 1.6% during the 2nd quarter. Maryland State Retirement & Pension System now owns 10,738 shares of the utilities provider’s stock valued at $950,000 after purchasing an additional 172 shares during the period. 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 valued at $117,000 after purchasing an additional 213 shares during the period. 52.58% of the stock is currently owned by institutional investors and hedge funds.

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.