MGE Energy (MGEE) Upgraded to “Hold” at BidaskClub

BidaskClub upgraded shares of MGE Energy (NASDAQ:MGEE) from a sell rating to a hold rating in a report published on Friday.

Separately, ValuEngine cut shares of MGE Energy from a hold rating to a sell rating in a report on Tuesday.

NASDAQ MGEE traded down $0.10 on Friday, hitting $58.90. 47,848 shares of the stock were exchanged, compared to its average volume of 48,751. The company has a quick ratio of 2.00, a current ratio of 2.34 and a debt-to-equity ratio of 0.50. MGE Energy has a fifty-two week low of $51.05 and a fifty-two week high of $68.70. The stock has a market capitalization of $2.05 billion, a PE ratio of 26.41 and a beta of 0.30.

MGE Energy (NASDAQ:MGEE) last posted its quarterly earnings results on Friday, February 23rd. The utilities provider reported $0.45 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 $140.27 million during the quarter.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Shareholders of record on Friday, June 1st will be issued a dividend of $0.3225 per share. This represents a $1.29 annualized dividend and a yield of 2.19%. The ex-dividend date is Thursday, May 31st. This is a boost from MGE Energy’s previous quarterly dividend of $0.32. MGE Energy’s payout ratio is 57.85%.

In related news, Director James G. Berbee bought 449 shares of the stock in a transaction dated Tuesday, March 13th. The stock was acquired at an average price of $55.73 per share, for a total transaction of $25,022.77. Following the acquisition, the director now owns 449 shares in the company, valued at approximately $25,022.77. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jeffrey M. Keebler bought 627 shares of the stock in a transaction dated Tuesday, March 13th. The stock was bought at an average price of $55.73 per share, with a total value of $34,942.71. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 1,590 shares of company stock valued at $88,919. Company insiders own 0.20% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Landscape Capital Management L.L.C. acquired a new position in shares of MGE Energy in the 4th quarter valued at $365,000. Raymond James & Associates acquired a new position in shares of MGE Energy in the 4th quarter valued at $395,000. A.R.T. Advisors LLC acquired a new position in shares of MGE Energy in the 1st quarter valued at $428,000. GSA Capital Partners LLP acquired a new position in shares of MGE Energy in the 1st quarter valued at $429,000. Finally, Citadel Advisors LLC boosted its holdings in shares of MGE Energy by 156.7% in the 4th quarter. Citadel Advisors LLC now owns 8,144 shares of the utilities provider’s stock valued at $514,000 after buying an additional 4,971 shares in the last quarter. Institutional investors and hedge funds own 39.63% of the company’s stock.

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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