MGE Energy (NASDAQ:MGEE) Stock Gets Price Target Bump from LADENBURG THALM/SH SH

MGE Energy (NASDAQ:MGEE) had its price objective lifted by research analysts at LADENBURG THALM/SH SH from $81.00 to $86.50 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the utilities provider’s stock. LADENBURG THALM/SH SH‘s price objective indicates a potential upside of 7.77% from the company’s previous close.

Several other brokerages have also recently commented on MGEE. Jefferies Financial Group set a $87.00 price target on shares of MGE Energy in a research note on Thursday. Freedom Broker raised shares of MGE Energy from a “hold” rating to a “buy” rating and increased their price objective for the company from $79.00 to $87.00 in a report on Friday. Morgan Stanley raised their price objective on MGE Energy from $71.00 to $72.00 and gave the company an “underweight” rating in a research report on Wednesday, October 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MGE Energy in a report on Tuesday, November 3rd. Finally, Wall Street Zen raised MGE Energy from a “sell” rating to a “hold” rating in a report on Saturday, October 10th. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $80.75.

MGE Energy Stock Performance

NASDAQ:MGEE opened at $80.26 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.09 and a quick ratio of 0.73. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of 18.54, a price-to-earnings-growth ratio of 4.48 and a beta of 0.68. MGE Energy has a one year low of $68.01 and a one year high of $85.29. The business has a fifty day moving average price of $73.57 and a 200-day moving average price of $77.52.

MGE Energy (NASDAQ:MGEE) last announced its quarterly earnings data on Wednesday, November 4th. The utilities provider reported $1.48 EPS for the quarter, beating the consensus estimate of $1.18 by $0.30. MGE Energy had a net margin of 20.60% and a return on equity of 11.59%. The firm had revenue of $190.40 million for the quarter, compared to the consensus estimate of $184.59 million. Sell-side analysts forecast that MGE Energy will post 4.02 EPS for the current year.

Institutional Trading of MGE Energy

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of MGE Energy during the second quarter worth $496,897,000. Bank of New York Mellon Corp purchased a new stake in shares of MGE Energy during the second quarter valued at $27,087,000. Legal & General Group Plc acquired a new position in shares of MGE Energy in the 2nd quarter valued at $15,443,000. Bank of America Corp DE acquired a new position in shares of MGE Energy in the 2nd quarter valued at $6,752,000. Finally, Deutsche Bank AG acquired a new position in shares of MGE Energy in the 2nd quarter valued at $4,160,000. 52.58% of the stock is owned by hedge funds and other institutional investors.

MGE Energy Company Profile

MGE Energy, Inc is a public utility holding company based in Madison, Wisconsin. Its principal subsidiary, Madison Gas and Electric Company (MGE), provides electric and natural gas service to customers in Madison and surrounding communities in south-central Wisconsin.

MGE’s operations include generating and purchasing electricity, delivering power through its electric system, and distributing natural gas. The company also invests in energy-related businesses, including projects that support renewable energy and other power-generation resources.

The company traces its roots to Madison Gas Light Company, established in 1855.