MGE Energy (NASDAQ:MGEE) Price Target Raised to $80.00 at Morgan Stanley

MGE Energy (NASDAQ:MGEE) had its target price boosted by equities researchers at Morgan Stanley from $78.00 to $80.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “underweight” rating on the utilities provider’s stock. Morgan Stanley’s price target indicates a potential downside of 13.84% from the company’s current price.

Separately, LADENBURG THALM/SH SH upgraded shares of MGE Energy to a “strong sell” rating in a report on Monday.

MGE Energy Stock Performance

MGEE traded up $0.34 during trading on Thursday, hitting $92.85. The stock had a trading volume of 17,739 shares, compared to its average volume of 147,922. The firm has a market cap of $3.39 billion, a PE ratio of 28.40 and a beta of 0.72. 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 50 day simple moving average of $90.79 and a 200-day simple moving average of $93.37.

MGE Energy (NASDAQ:MGEE) last announced its earnings results on Tuesday, February 25th. The utilities provider reported $0.61 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.23). The firm had revenue of $171.42 million during the quarter. MGE Energy had a return on equity of 10.18% and a net margin of 17.70%. Analysts expect that MGE Energy will post 3.43 EPS for the current year.

Insider Transactions at MGE Energy

In related news, Director James G. Berbee acquired 446 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were bought at an average price of $90.83 per share, for a total transaction of $40,510.18. Following the acquisition, the director now owns 11,532 shares in the company, valued at $1,047,451.56. This trade represents a 4.02 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.19% of the company’s stock.

Institutional Trading of MGE Energy

Several institutional investors have recently made changes to their positions in MGEE. Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of MGE Energy during the 3rd quarter valued at about $11,765,000. JPMorgan Chase & Co. boosted its position in shares of MGE Energy by 145.0% during the 4th quarter. JPMorgan Chase & Co. now owns 146,008 shares of the utilities provider’s stock valued at $13,719,000 after acquiring an additional 86,423 shares in the last quarter. Millennium Management LLC boosted its position in shares of MGE Energy by 134.8% during the 4th quarter. Millennium Management LLC now owns 106,611 shares of the utilities provider’s stock valued at $10,017,000 after acquiring an additional 61,200 shares in the last quarter. Susquehanna International Group LLP boosted its position in shares of MGE Energy by 307.8% during the 4th quarter. Susquehanna International Group LLP now owns 78,843 shares of the utilities provider’s stock valued at $7,408,000 after acquiring an additional 59,510 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of MGE Energy during the 4th quarter valued at about $4,556,000. 52.58% of the stock is currently owned by institutional investors and hedge funds.

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.