MGE Energy (NASDAQ:MGEE) Issues Earnings Results, Beats Expectations By $0.12 EPS

MGE Energy (NASDAQ:MGEE) posted its earnings results on Wednesday. The utilities provider reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.12, FiscalAI reports. MGE Energy had a return on equity of 11.36% and a net margin of 19.45%.The firm had revenue of $161.19 million for the quarter, compared to analysts’ expectations of $166.37 million.

MGE Energy Trading Up 0.9%

Shares of MGEE stock traded up $0.69 during mid-day trading on Friday, hitting $81.54. 199,496 shares of the company’s stock were exchanged, compared to its average volume of 233,893. The stock has a 50-day simple moving average of $79.33 and a two-hundred day simple moving average of $78.71. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 0.65. MGE Energy has a fifty-two week low of $72.16 and a fifty-two week high of $88.01. The stock has a market cap of $3.00 billion, a price-to-earnings ratio of 20.03 and a beta of 0.71.

MGE Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were issued a dividend of $0.475 per share. The ex-dividend date was Monday, June 1st. This represents a $1.90 annualized dividend and a dividend yield of 2.3%. MGE Energy’s dividend payout ratio (DPR) is 46.68%.

Institutional Trading of MGE Energy

Several institutional investors have recently made changes to their positions in MGEE. Advisory Services Network LLC purchased a new stake in MGE Energy during the third quarter valued at about $40,000. Parallel Advisors LLC grew its holdings in MGE Energy by 28.6% during the 3rd quarter. Parallel Advisors LLC now owns 714 shares of the utilities provider’s stock valued at $60,000 after purchasing an additional 159 shares in the last quarter. UMB Bank n.a. grew its stake in shares of MGE Energy by 807.2% during the fourth quarter. UMB Bank n.a. now owns 1,261 shares of the utilities provider’s stock valued at $99,000 after acquiring an additional 1,122 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in MGE Energy during the 4th quarter valued at approximately $100,000. Finally, Smartleaf Asset Management LLC increased its stake in shares of MGE Energy by 19.1% in the second quarter. Smartleaf Asset Management LLC now owns 1,326 shares of the utilities provider’s stock worth $117,000 after buying an additional 213 shares during the last quarter. 52.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on MGEE shares. Morgan Stanley reissued an “underweight” rating and set a $76.00 target price on shares of MGE Energy in a research note on Wednesday, July 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of MGE Energy in a research note on Wednesday. Finally, LADENBURG THALM/SH SH upgraded shares of MGE Energy from a “neutral” rating to a “buy” rating and set a $81.00 price target on the stock in a research note on Monday, June 8th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, MGE Energy presently has a consensus rating of “Hold” and a consensus target price of $78.50.

MGE Energy Company Profile

MGE Energy, Inc is a public utility holding company headquartered in Madison, Wisconsin. Through its principal subsidiary, Madison Gas and Electric Company (MGE), the company provides regulated electric and natural gas distribution services to residential, commercial and industrial customers in south-central Wisconsin. MGE Energy’s operations encompass the generation, transmission and distribution of electricity as well as the purchase and distribution of natural gas, with an emphasis on reliable service and system resilience.

Since reorganizing as a holding company in 2001, MGE Energy has expanded its portfolio to include nonregulated subsidiaries involved in renewable energy development, energy services and infrastructure support.