MGE Energy (NASDAQ:MGEE) Upgraded at ValuEngine

ValuEngine upgraded shares of MGE Energy (NASDAQ:MGEE) from a sell rating to a hold rating in a research note issued to investors on Tuesday, May 29th.

Separately, BidaskClub upgraded shares of MGE Energy from a sell rating to a hold rating in a research report on Friday, May 25th.

NASDAQ:MGEE traded up $1.10 during midday trading on Tuesday, reaching $58.30. 64,109 shares of the stock traded hands, compared to its average volume of 80,466. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of 26.14 and a beta of 0.32. MGE Energy has a 12-month low of $51.05 and a 12-month high of $68.70. The company has a quick ratio of 2.00, a current ratio of 2.34 and a debt-to-equity ratio of 0.50.

MGE Energy (NASDAQ:MGEE) last posted its quarterly earnings results on Tuesday, May 8th. The utilities provider reported $0.58 earnings per share (EPS) for the quarter. The business had revenue of $157.63 million during the quarter. MGE Energy had a net margin of 17.43% and a return on equity of 10.19%.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Friday, June 1st will be paid a $0.3225 dividend. This is an increase from MGE Energy’s previous quarterly dividend of $0.32. This represents a $1.29 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend is Thursday, May 31st. MGE Energy’s dividend payout ratio (DPR) is currently 57.85%.

Hedge funds have recently modified their holdings of the business. Landscape Capital Management L.L.C. purchased a new position in MGE Energy during the fourth quarter worth about $365,000. Raymond James & Associates acquired a new stake in shares of MGE Energy during the fourth quarter valued at about $395,000. A.R.T. Advisors LLC acquired a new stake in shares of MGE Energy during the first quarter valued at about $428,000. GSA Capital Partners LLP acquired a new stake in shares of MGE Energy during the first quarter valued at about $429,000. Finally, Citadel Advisors LLC increased its position in shares of MGE Energy by 156.7% during the fourth quarter. Citadel Advisors LLC now owns 8,144 shares of the utilities provider’s stock valued at $514,000 after acquiring an additional 4,971 shares during the last quarter. 39.64% of the stock is currently owned by institutional investors.

MGE Energy Company Profile

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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