MGE Energy (MGEE) Upgraded to Hold at ValuEngine

ValuEngine upgraded shares of MGE Energy (NASDAQ:MGEE) from a sell rating to a hold rating in a research note released on Tuesday, May 29th.

Separately, BidaskClub raised MGE Energy from a sell rating to a hold rating in a research report on Wednesday, April 4th.

MGE Energy traded up $1.10, reaching $58.30, on Tuesday, according to MarketBeat.com. The company had a trading volume of 64,109 shares, compared to its average volume of 80,466. The firm has a market capitalization of $1.94 billion, a P/E ratio of 26.14 and a beta of 0.32. MGE Energy has a 52-week low of $51.05 and a 52-week high of $68.70. The company has a current ratio of 2.34, a quick ratio of 2.00 and a debt-to-equity ratio of 0.50.

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

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Friday, June 1st will be given a dividend of $0.3225 per share. The ex-dividend date is Thursday, May 31st. This is a positive change from MGE Energy’s previous quarterly dividend of $0.32. This represents a $1.29 annualized dividend and a dividend yield of 2.21%. MGE Energy’s dividend payout ratio (DPR) is currently 57.85%.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of MGE Energy by 1.4% during the 4th quarter. BlackRock Inc. now owns 2,267,361 shares of the utilities provider’s stock valued at $143,071,000 after purchasing an additional 30,521 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of MGE Energy by 0.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 902,538 shares of the utilities provider’s stock valued at $50,632,000 after purchasing an additional 6,746 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of MGE Energy by 1.6% during the 1st quarter. Victory Capital Management Inc. now owns 622,008 shares of the utilities provider’s stock valued at $34,895,000 after purchasing an additional 9,985 shares during the last quarter. First Trust Advisors LP increased its position in shares of MGE Energy by 16.8% during the 4th quarter. First Trust Advisors LP now owns 367,739 shares of the utilities provider’s stock valued at $23,204,000 after purchasing an additional 52,962 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of MGE Energy by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 317,117 shares of the utilities provider’s stock valued at $20,010,000 after purchasing an additional 5,212 shares during the last quarter. 39.64% of the stock is owned by hedge funds and other 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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