MGE Energy (NASDAQ:MGEE) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Shares of MGE Energy Inc. (NASDAQ:MGEE) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $78.51 and traded as high as $81.26. MGE Energy shares last traded at $80.80, with a volume of 222,452 shares changing hands.

Analysts Set New Price Targets

MGEE has been the topic of several research analyst reports. Morgan Stanley restated an “underweight” rating and set a $76.00 price objective on shares of MGE Energy in a research note on Wednesday. LADENBURG THALM/SH SH upgraded shares of MGE Energy from a “neutral” rating to a “buy” rating and set a $81.00 target price for the company in a research note on Monday, June 8th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of MGE Energy in a report on Friday, May 8th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, MGE Energy presently has a consensus rating of “Hold” and a consensus target price of $78.50.

MGE Energy Stock Performance

The stock has a market capitalization of $3.03 billion, a P/E ratio of 21.13 and a beta of 0.71. The stock has a 50 day moving average of $78.20 and a 200 day moving average of $78.55. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.83 and a current ratio of 1.15.

MGE Energy (NASDAQ:MGEE) last posted its earnings results on Tuesday, May 5th. The utilities provider reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.19. MGE Energy had a return on equity of 10.94% and a net margin of 18.61%.The company had revenue of $242.70 million for the quarter, compared to analysts’ expectations of $227.06 million. Equities analysts predict that MGE Energy Inc. will post 3.98 EPS for the current year.

MGE Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a dividend of $0.475 per share. The ex-dividend date was Monday, June 1st. This represents a $1.90 annualized dividend and a dividend yield of 2.3%. MGE Energy’s payout ratio is currently 48.72%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. GAMMA Investing LLC raised its stake in shares of MGE Energy by 15.7% during the second quarter. GAMMA Investing LLC now owns 5,072 shares of the utilities provider’s stock valued at $414,000 after purchasing an additional 690 shares in the last quarter. Moody National Bank Trust Division bought a new position in MGE Energy in the 2nd quarter valued at about $402,000. Versant Capital Management Inc increased its stake in MGE Energy by 60.3% during the 2nd quarter. Versant Capital Management Inc now owns 744 shares of the utilities provider’s stock valued at $61,000 after buying an additional 280 shares during the period. Glenmede Trust Co. NA raised its position in shares of MGE Energy by 3.5% during the 1st quarter. Glenmede Trust Co. NA now owns 4,356 shares of the utilities provider’s stock worth $337,000 after buying an additional 148 shares in the last quarter. Finally, Bank of America Corp DE raised its position in shares of MGE Energy by 50.2% during the 1st quarter. Bank of America Corp DE now owns 99,834 shares of the utilities provider’s stock worth $7,716,000 after buying an additional 33,384 shares in the last quarter. 52.58% of the stock is owned by institutional investors and hedge funds.

About MGE Energy

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.