MGE Energy (NASDAQ:MGEE) Reaches New 12-Month High - Should You Buy?

MGE Energy, Inc. (NASDAQ:MGEE - Get Free Report) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $93.67 and last traded at $93.55, with a volume of 12422 shares changing hands. The stock had previously closed at $91.90.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley lifted their target price on shares of MGE Energy from $71.00 to $74.00 and gave the company an "underweight" rating in a research report on Wednesday, September 25th.

MGE Energy Stock Performance

The company has a quick ratio of 0.90, a current ratio of 1.32 and a debt-to-equity ratio of 0.61. The firm has a market cap of $3.42 billion, a PE ratio of 28.45 and a beta of 0.70. The firm has a 50-day moving average price of $88.62 and a two-hundred day moving average price of $82.50.

MGE Energy (NASDAQ:MGEE - Get Free Report) last announced its earnings results on Wednesday, August 7th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.29). The business had revenue of $145.71 million for the quarter, compared to analyst estimates of $151.29 million. MGE Energy had a return on equity of 10.04% and a net margin of 17.45%. Research analysts forecast that MGE Energy, Inc. will post 3.69 EPS for the current fiscal year.

MGE Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 15th. Shareholders of record on Sunday, September 1st were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.91%. This is a positive change from MGE Energy's previous quarterly dividend of $0.43. The ex-dividend date was Friday, August 30th. MGE Energy's dividend payout ratio (DPR) is 54.22%.

Institutional Investors Weigh In On MGE Energy

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quest Partners LLC grew its holdings in MGE Energy by 5,088.9% in the 2nd quarter. Quest Partners LLC now owns 467 shares of the utilities provider's stock valued at $35,000 after buying an additional 458 shares in the last quarter. GAMMA Investing LLC increased its position in MGE Energy by 244.6% during the second quarter. GAMMA Investing LLC now owns 672 shares of the utilities provider's stock worth $50,000 after purchasing an additional 477 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in MGE Energy during the second quarter worth about $58,000. Covestor Ltd raised its stake in MGE Energy by 43.3% during the first quarter. Covestor Ltd now owns 794 shares of the utilities provider's stock worth $63,000 after purchasing an additional 240 shares during the period. Finally, nVerses Capital LLC acquired a new position in MGE Energy in the 2nd quarter valued at about $75,000. Institutional investors and hedge funds own 52.58% of the company's stock.

MGE Energy Company Profile

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.