BidaskClub Lowers MGE Energy (NASDAQ:MGEE) to Buy

BidaskClub lowered shares of MGE Energy (NASDAQ:MGEE) from a strong-buy rating to a buy rating in a research note published on Saturday, BidAskClub reports.

NASDAQ:MGEE opened at $73.46 on Friday. The company has a market cap of $2.54 billion, a PE ratio of 30.24 and a beta of 0.39. The business’s 50 day moving average is $74.77 and its two-hundred day moving average is $70.20. The company has a quick ratio of 1.33, a current ratio of 1.65 and a debt-to-equity ratio of 0.61. MGE Energy has a 52 week low of $56.64 and a 52 week high of $76.89.

MGE Energy (NASDAQ:MGEE) last issued its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.45 earnings per share for the quarter. The business had revenue of $122.15 million during the quarter. MGE Energy had a return on equity of 10.38% and a net margin of 15.05%.

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st will be issued a $0.352 dividend. This represents a $1.41 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date is Thursday, August 29th.

In other MGE Energy news, Director James G. Berbee bought 375 shares of the stock in a transaction on Wednesday, August 21st. The stock was purchased at an average price of $75.90 per share, for a total transaction of $28,462.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.19% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of MGEE. Ellevest Inc. bought a new stake in shares of MGE Energy during the 2nd quarter valued at about $55,000. Royal Bank of Canada lifted its holdings in MGE Energy by 7.9% in the second quarter. Royal Bank of Canada now owns 11,205 shares of the utilities provider’s stock worth $819,000 after acquiring an additional 819 shares during the last quarter. HM Payson & Co. bought a new position in MGE Energy in the second quarter worth about $173,000. Nuveen Asset Management LLC acquired a new position in MGE Energy in the second quarter valued at approximately $10,483,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in MGE Energy by 5.1% in the second quarter. Price T Rowe Associates Inc. MD now owns 669,885 shares of the utilities provider’s stock valued at $48,955,000 after acquiring an additional 32,331 shares during the period. Institutional investors own 44.08% of the company’s stock.

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.

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