MGE Energy (NASDAQ:MGEE) PT Raised to $74.00 at Morgan Stanley

MGE Energy (NASDAQ:MGEE) had its price target raised by Morgan Stanley from $71.00 to $74.00 in a research report report published on Wednesday morning, Benzinga reports. Morgan Stanley currently has an underweight rating on the utilities provider’s stock.

Separately, StockNews.com upgraded shares of MGE Energy from a sell rating to a hold rating in a research note on Wednesday, May 29th.

MGE Energy Stock Performance

MGEE stock opened at $91.03 on Wednesday. The stock has a market cap of $3.29 billion, a P/E ratio of 27.42 and a beta of 0.70. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.90 and a current ratio of 1.32. The firm has a 50 day simple moving average of $87.35 and a 200 day simple moving average of $81.18. MGE Energy has a 52 week low of $61.94 and a 52 week high of $93.15.

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

MGE Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st were paid a $0.45 dividend. The ex-dividend date of this dividend was Friday, August 30th. This is an increase from MGE Energy’s previous quarterly dividend of $0.43. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.98%. MGE Energy’s payout ratio is currently 54.22%.

Institutional Investors Weigh In On MGE Energy

Institutional investors and hedge funds have recently modified their holdings of the business. Speece Thorson Capital Group Inc. acquired a new stake in MGE Energy in the fourth quarter worth $6,145,000. Comerica Bank lifted its holdings in MGE Energy by 11,187.2% during the first quarter. Comerica Bank now owns 15,012 shares of the utilities provider’s stock worth $1,182,000 after acquiring an additional 14,879 shares in the last quarter. New York State Teachers Retirement System acquired a new position in MGE Energy in the first quarter valued at about $934,000. Quadrature Capital Ltd increased its holdings in shares of MGE Energy by 122.1% in the fourth quarter. Quadrature Capital Ltd now owns 21,484 shares of the utilities provider’s stock worth $1,554,000 after acquiring an additional 11,809 shares in the last quarter. Finally, Edgestream Partners L.P. acquired a new stake in shares of MGE Energy during the first quarter worth about $1,178,000. 52.58% of the stock is 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.