MGE Energy (NASDAQ:MGEE) Upgraded by LADENBURG THALM/SH SH to Strong Sell Rating

LADENBURG THALM/SH SH upgraded shares of MGE Energy (NASDAQ:MGEE - Free Report) to a strong sell rating in a research report sent to investors on Monday morning,Zacks.com reports.

MGE Energy Price Performance

Shares of MGEE stock traded down $1.25 on Monday, reaching $91.31. The company had a trading volume of 374,395 shares, compared to its average volume of 146,377. The business's 50-day moving average is $90.88 and its 200 day moving average is $93.45. MGE Energy has a one year low of $72.27 and a one year high of $109.22. The company has a quick ratio of 0.94, a current ratio of 1.41 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $3.33 billion, a PE ratio of 27.92 and a beta of 0.72.

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

MGE Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend was Friday, February 28th. MGE Energy's dividend payout ratio (DPR) is 54.05%.

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Insider Buying and Selling at MGE Energy

In other news, Director James G. Berbee bought 446 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The shares were purchased at an average price of $90.83 per share, with a total value 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 ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.19% of the stock is owned by insiders.

Hedge Funds Weigh In On MGE Energy

Several large investors have recently made changes to their positions in the company. Alpine Global Management LLC acquired a new position in MGE Energy in the 4th quarter valued at $797,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of MGE Energy by 0.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 72,893 shares of the utilities provider's stock worth $6,849,000 after buying an additional 567 shares during the period. Vident Advisory LLC grew its holdings in shares of MGE Energy by 4.9% during the 4th quarter. Vident Advisory LLC now owns 8,309 shares of the utilities provider's stock worth $781,000 after acquiring an additional 389 shares during the period. Squarepoint Ops LLC bought a new position in MGE Energy in the 4th quarter valued at approximately $1,303,000. Finally, Twinbeech Capital LP purchased a new stake in shares of MGE Energy in the 4th quarter worth $209,000. Institutional investors and hedge funds own 52.58% of the company's stock.

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.