Morgan Stanley Forecasts Strong Price Appreciation for MGE Energy (NASDAQ:MGEE) Stock

MGE Energy (NASDAQ:MGEE) had its price target boosted by Morgan Stanley from $78.00 to $80.00 in a research note published on Thursday,Benzinga reports. The firm currently has an underweight rating on the utilities provider’s stock.

Separately, LADENBURG THALM/SH SH upgraded shares of MGE Energy to a “strong sell” rating in a research report on Monday, March 17th.

MGE Energy Stock Performance

NASDAQ:MGEE opened at $91.31 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.94 and a current ratio of 1.41. The company has a fifty day moving average of $90.88 and a two-hundred day moving average of $93.45. The stock has a market capitalization of $3.33 billion, a PE ratio of 27.92 and a beta of 0.72. MGE Energy has a fifty-two week low of $72.27 and a fifty-two week high of $109.22.

MGE Energy (NASDAQ:MGEE) last posted its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.23). The company had revenue of $171.42 million for the quarter. MGE Energy had a return on equity of 10.18% and a net margin of 17.70%. As a group, research analysts forecast that MGE Energy will post 3.43 earnings per share for the current fiscal year.

MGE Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Saturday, March 1st were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend was Friday, February 28th. MGE Energy’s dividend payout ratio (DPR) is 54.05%.

Insider Activity

In other news, Director James G. Berbee acquired 446 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average price of $90.83 per share, with a total value of $40,510.18. Following the completion of the acquisition, the director now owns 11,532 shares of the company’s stock, valued at $1,047,451.56. This trade represents a 4.02 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On MGE Energy

A number of hedge funds have recently modified their holdings of MGEE. Versant Capital Management Inc grew its holdings in shares of MGE Energy by 367.1% in the fourth quarter. Versant Capital Management Inc now owns 327 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 257 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of MGE Energy by 88.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 357 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 168 shares during the period. Sterling Capital Management LLC grew its holdings in shares of MGE Energy by 656.2% in the fourth quarter. Sterling Capital Management LLC now owns 673 shares of the utilities provider’s stock valued at $63,000 after purchasing an additional 584 shares during the period. Smartleaf Asset Management LLC grew its holdings in shares of MGE Energy by 507.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,112 shares of the utilities provider’s stock valued at $105,000 after purchasing an additional 929 shares during the period. Finally, Focus Partners Wealth purchased a new stake in shares of MGE Energy in the fourth quarter valued at about $116,000. Hedge funds and other institutional investors own 52.58% of the company’s stock.

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.