MGE Energy (NASDAQ:MGEE) Hits New 1-Year Low – Should You Sell?

MGE Energy Inc. (NASDAQ:MGEE) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $81.00 and last traded at $81.07, with a volume of 41341 shares changing hands. The stock had previously closed at $82.16.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Weiss Ratings restated a “buy (b-)” rating on shares of MGE Energy in a research report on Thursday, November 13th. Morgan Stanley reissued an “underweight” rating on shares of MGE Energy in a report on Wednesday, October 22nd. LADENBURG THALM/SH SH raised MGE Energy from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $69.00 to $83.00 in a research note on Thursday, September 11th. Finally, Wall Street Zen downgraded shares of MGE Energy from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $79.00.

MGE Energy Trading Down 1.0%

The company has a debt-to-equity ratio of 0.60, a current ratio of 1.80 and a quick ratio of 1.20. The stock’s 50-day moving average price is $84.04 and its 200 day moving average price is $86.36. The firm has a market capitalization of $2.97 billion, a PE ratio of 22.52 and a beta of 0.81.

MGE Energy (NASDAQ:MGEE) last issued its quarterly earnings data on Wednesday, November 5th. The utilities provider reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.03. The company had revenue of $175.68 million during the quarter. MGE Energy had a net margin of 18.24% and a return on equity of 10.58%. On average, sell-side analysts expect that MGE Energy Inc. will post 3.43 EPS for the current fiscal year.

MGE Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a dividend of $0.475 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $1.90 dividend on an annualized basis and a yield of 2.3%. MGE Energy’s dividend payout ratio is presently 51.49%.

Hedge Funds Weigh In On MGE Energy

Several hedge funds have recently modified their holdings of MGEE. Advisory Services Network LLC purchased a new position in MGE Energy in the 3rd quarter worth $40,000. Morningstar Investment Management LLC purchased a new position in MGE Energy during the third quarter valued at $390,000. Armistice Capital LLC acquired a new position in shares of MGE Energy during the third quarter valued at approximately $542,000. Dark Forest Capital Management LP raised its position in shares of MGE Energy by 8.6% in the third quarter. Dark Forest Capital Management LP now owns 30,926 shares of the utilities provider’s stock valued at $2,603,000 after buying an additional 2,445 shares during the last quarter. Finally, Qube Research & Technologies Ltd boosted its holdings in shares of MGE Energy by 167.5% during the 3rd quarter. Qube Research & Technologies Ltd now owns 162,217 shares of the utilities provider’s stock worth $13,655,000 after purchasing an additional 101,586 shares during the last quarter. Institutional investors and hedge funds own 52.58% of the company’s stock.

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.