MGE Energy (NASDAQ:MGEE) Downgraded by BidaskClub

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BidaskClub lowered shares of MGE Energy (NASDAQ:MGEE) from a hold rating to a sell rating in a research report released on Monday morning, BidAskClub reports.

A number of other research analysts also recently issued reports on the stock. Zacks Investment Research upgraded shares of MGE Energy from a hold rating to a buy rating and set a $75.00 price target for the company in a research note on Saturday, August 15th. Bank of America began coverage on shares of MGE Energy in a research note on Tuesday, May 26th. They issued an underperform rating and a $57.00 price target for the company.

NASDAQ MGEE opened at $65.50 on Monday. MGE Energy has a one year low of $47.19 and a one year high of $83.26. The firm has a 50 day simple moving average of $65.81 and a 200-day simple moving average of $67.83. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.57 and a current ratio of 1.99. The firm has a market cap of $2.39 billion, a price-to-earnings ratio of 25.04, a PEG ratio of 5.99 and a beta of 0.44.

MGE Energy (NASDAQ:MGEE) last issued its quarterly earnings results on Thursday, August 6th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.05. MGE Energy had a net margin of 16.88% and a return on equity of 10.44%. The company had revenue of $117.04 million during the quarter. Equities analysts predict that MGE Energy will post 2.52 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.37 per share. The ex-dividend date is Monday, August 31st. This represents a $1.48 dividend on an annualized basis and a yield of 2.26%. This is a boost from MGE Energy’s previous quarterly dividend of $0.35. MGE Energy’s dividend payout ratio (DPR) is presently 56.18%.

Hedge funds have recently added to or reduced their stakes in the business. First Personal Financial Services acquired a new stake in MGE Energy during the first quarter worth approximately $57,000. IFP Advisors Inc raised its holdings in MGE Energy by 33.3% during the second quarter. IFP Advisors Inc now owns 1,600 shares of the utilities provider’s stock worth $103,000 after purchasing an additional 400 shares in the last quarter. Private Advisor Group LLC acquired a new stake in MGE Energy during the second quarter worth approximately $155,000. Tower View Investment Management & Research LLC raised its holdings 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 worth $170,000 after purchasing an additional 795 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in MGE Energy during the first quarter worth approximately $264,000. 44.15% 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 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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