MGE Energy (MGEE) Upgraded by BidaskClub to “Strong-Buy”

BidaskClub upgraded shares of MGE Energy (NASDAQ:MGEE) from a buy rating to a strong-buy rating in a research note published on Thursday.

Separately, ValuEngine downgraded shares of MGE Energy from a hold rating to a sell rating in a report on Wednesday, June 6th.

Shares of MGE Energy traded up $0.05, reaching $63.05, during mid-day trading on Thursday, according to Marketbeat. 90,111 shares of the company were exchanged, compared to its average volume of 93,287. MGE Energy has a 52 week low of $51.05 and a 52 week high of $68.70. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.00 and a current ratio of 2.34. The company has a market capitalization of $2.17 billion, a P/E ratio of 28.27 and a beta of 0.32.

MGE Energy (NASDAQ:MGEE) last posted its quarterly earnings data on Tuesday, May 8th. The utilities provider reported $0.58 earnings per share (EPS) for the quarter. MGE Energy had a net margin of 17.43% and a return on equity of 10.19%. The company had revenue of $157.63 million during the quarter.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 15th. Stockholders of record on Friday, June 1st were issued a dividend of $0.3225 per share. This is an increase from MGE Energy’s previous quarterly dividend of $0.32. This represents a $1.29 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend was Thursday, May 31st. MGE Energy’s payout ratio is currently 57.85%.

Several hedge funds and other institutional investors have recently bought and sold shares of MGEE. Deutsche Bank AG lifted its stake in MGE Energy by 108.4% in the fourth quarter. Deutsche Bank AG now owns 91,508 shares of the utilities provider’s stock worth $5,772,000 after purchasing an additional 47,589 shares during the last quarter. Wells Fargo & Company MN lifted its stake in MGE Energy by 25.4% in the fourth quarter. Wells Fargo & Company MN now owns 166,387 shares of the utilities provider’s stock worth $10,499,000 after purchasing an additional 33,725 shares during the last quarter. BlackRock Inc. lifted its stake in MGE Energy by 1.4% in the fourth quarter. BlackRock Inc. now owns 2,267,361 shares of the utilities provider’s stock worth $143,071,000 after purchasing an additional 30,521 shares during the last quarter. Renaissance Technologies LLC lifted its stake in MGE Energy by 12.1% in the fourth quarter. Renaissance Technologies LLC now owns 271,650 shares of the utilities provider’s stock worth $17,141,000 after purchasing an additional 29,400 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in MGE Energy by 288.3% in the fourth quarter. Millennium Management LLC now owns 37,444 shares of the utilities provider’s stock worth $2,363,000 after purchasing an additional 27,800 shares during the last quarter. 39.65% 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 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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