MGE Energy (NASDAQ:MGEE) Given New $80.00 Price Target at Morgan Stanley

MGE Energy (NASDAQ:MGEE - Free Report) had its price target boosted by Morgan Stanley from $78.00 to $80.00 in a report released on Thursday morning,Benzinga reports. The brokerage currently has an underweight rating on the utilities provider's stock.

Separately, LADENBURG THALM/SH SH upgraded shares of MGE Energy to a "strong sell" rating in a report on Monday, March 17th.

MGE Energy Stock Up 0.4 %

MGE Energy stock traded up $0.38 during midday trading on Thursday, reaching $91.69. The stock had a trading volume of 108,040 shares, compared to its average volume of 146,224. The company has a fifty day moving average price of $90.93 and a two-hundred day moving average price of $93.53. MGE Energy has a 12 month low of $72.27 and a 12 month high of $109.22. The company has a current ratio of 1.41, a quick ratio of 0.94 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $3.35 billion, a P/E ratio of 28.04 and a beta of 0.72.

MGE Energy (NASDAQ:MGEE - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.61 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.23). MGE Energy had a net margin of 17.70% and a return on equity of 10.18%. The firm had revenue of $171.42 million for the quarter. As a group, equities analysts expect that MGE Energy will post 3.43 EPS for the current fiscal year.

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MGE Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Investors of record on Saturday, March 1st were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.80 annualized dividend and a yield of 1.96%. MGE Energy's dividend payout ratio (DPR) is currently 54.05%.

Insider Buying and Selling at MGE Energy

In other news, Director James G. Berbee bought 446 shares of the stock in a transaction dated Wednesday, March 12th. The stock was bought at an average price of $90.83 per share, for a total transaction of $40,510.18. Following the completion of the acquisition, the director now directly owns 11,532 shares in the company, valued at approximately $1,047,451.56. This trade represents a 4.02 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.19% of the company's stock.

Institutional Investors Weigh In On MGE Energy

Institutional investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc boosted its stake in shares of MGE Energy by 367.1% in the 4th quarter. Versant Capital Management Inc now owns 327 shares of the utilities provider's stock worth $31,000 after buying an additional 257 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its position in MGE Energy by 88.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 357 shares of the utilities provider's stock worth $34,000 after purchasing an additional 168 shares during the last quarter. Sterling Capital Management LLC raised its stake in shares of MGE Energy by 656.2% during the 4th quarter. Sterling Capital Management LLC now owns 673 shares of the utilities provider's stock worth $63,000 after purchasing an additional 584 shares during the period. Smartleaf Asset Management LLC boosted its holdings in shares of MGE Energy by 507.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,112 shares of the utilities provider's stock worth $105,000 after buying an additional 929 shares during the last quarter. Finally, Focus Partners Wealth bought a new position in MGE Energy during the fourth quarter valued at about $116,000. 52.58% 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 the United States. It operates through Regulated Electric Utility Operations; Regulated Gas Utility Operations; Nonregulated Energy Operations; Transmission Investments; and All Other segments. The company generates, purchases, and distributes electricity and natural gas in Wisconsin and Iowa; owns and leases electric generating capacity; and plans, constructs, operates, maintains, and expands transmission facilities to provide transmission power services.