MGE Energy (NASDAQ:MGEE) Sets New 12-Month High at $90.00

Shares of MGE Energy, Inc. (NASDAQ:MGEE) reached a new 52-week high during trading on Friday . The stock traded as high as $90.00 and last traded at $89.90, with a volume of 21893 shares changing hands. The stock had previously closed at $88.00.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MGEE. StockNews.com raised shares of MGE Energy from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. Morgan Stanley lifted their price target on MGE Energy from $66.00 to $71.00 and gave the company an “underweight” rating in a research note on Friday, August 23rd.

MGE Energy Trading Up 3.0 %

The business’s 50 day moving average price is $85.15 and its two-hundred day moving average price is $79.99. The company has a market capitalization of $3.28 billion, a price-to-earnings ratio of 27.29 and a beta of 0.70. The company has a current ratio of 1.32, a quick ratio of 0.90 and a debt-to-equity ratio of 0.61.

MGE Energy (NASDAQ:MGEE) last posted its earnings results on Wednesday, August 7th. The utilities provider reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.29). MGE Energy had a return on equity of 10.04% and a net margin of 17.45%. The company had revenue of $145.71 million for the quarter, compared to the consensus estimate of $151.29 million. On average, equities analysts predict that MGE Energy, Inc. will post 3.69 earnings per share for the current fiscal year.

MGE Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st will be given a $0.45 dividend. The ex-dividend date is Friday, August 30th. This is an increase from MGE Energy’s previous quarterly dividend of $0.43. This represents a $1.80 annualized dividend and a yield of 1.99%. MGE Energy’s dividend payout ratio (DPR) is currently 54.22%.

Institutional Trading of MGE Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its position in MGE Energy by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 378,940 shares of the utilities provider’s stock worth $27,401,000 after buying an additional 5,544 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of MGE Energy by 0.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 759,044 shares of the utilities provider’s stock worth $54,887,000 after purchasing an additional 7,085 shares during the period. Avantax Advisory Services Inc. grew its stake in shares of MGE Energy by 34.5% in the fourth quarter. Avantax Advisory Services Inc. now owns 10,953 shares of the utilities provider’s stock worth $792,000 after purchasing an additional 2,808 shares during the last quarter. Quest Partners LLC acquired a new stake in MGE Energy in the fourth quarter valued at $570,000. Finally, Neuberger Berman Group LLC bought a new position in MGE Energy during the 4th quarter worth $213,000. 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.