MGE Energy (NASDAQ:MGEE) Sees Unusually-High Trading Volume – Time to Buy?

MGE Energy Inc. (NASDAQ:MGEE) saw unusually-strong trading volume on Thursday . Approximately 527,002 shares changed hands during mid-day trading, an increase of 206% from the previous session’s volume of 172,068 shares.The stock last traded at $75.5810 and had previously closed at $80.80.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on MGEE shares. Wall Street Zen raised shares of MGE Energy from a “sell” rating to a “hold” rating in a research report on Sunday, March 8th. Morgan Stanley reissued an “underweight” rating on shares of MGE Energy in a research report on Monday, April 27th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $80.50.

MGE Energy Stock Down 7.6%

The business’s fifty day moving average price is $78.45 and its 200 day moving average price is $80.05. The company has a quick ratio of 0.55, a current ratio of 0.77 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $2.74 billion, a PE ratio of 19.14 and a beta of 0.76.

MGE Energy (NASDAQ:MGEE) last announced its earnings results on Tuesday, May 5th. The utilities provider reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.19. MGE Energy had a net margin of 18.61% and a return on equity of 11.06%. The business had revenue of $242.70 million during the quarter, compared to analysts’ expectations of $227.06 million. On average, equities research analysts forecast that MGE Energy Inc. will post 3.92 earnings per share for the current fiscal year.

Insider Activity

In other news, Director James G. Berbee purchased 373 shares of the company’s stock in a transaction dated Wednesday, March 11th. The shares were acquired at an average cost of $77.74 per share, for a total transaction of $28,997.02. Following the completion of the purchase, the director directly owned 9,362 shares in the company, valued at $727,801.88. The trade was a 4.15% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.41% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. GSA Capital Partners LLP acquired a new position in shares of MGE Energy during the third quarter worth about $1,628,000. Tudor Investment Corp ET AL increased its stake in shares of MGE Energy by 20.8% during the third quarter. Tudor Investment Corp ET AL now owns 97,520 shares of the utilities provider’s stock worth $8,209,000 after acquiring an additional 16,786 shares during the period. JPMorgan Chase & Co. increased its stake in shares of MGE Energy by 49.1% during the third quarter. JPMorgan Chase & Co. now owns 84,700 shares of the utilities provider’s stock worth $7,130,000 after acquiring an additional 27,899 shares during the period. Speece Thorson Capital Group Inc. increased its stake in shares of MGE Energy by 44.3% during the fourth quarter. Speece Thorson Capital Group Inc. now owns 195,596 shares of the utilities provider’s stock worth $15,339,000 after acquiring an additional 60,037 shares during the period. Finally, Public Sector Pension Investment Board increased its stake in shares of MGE Energy by 14.4% during the third quarter. Public Sector Pension Investment Board now owns 142,520 shares of the utilities provider’s stock worth $11,997,000 after acquiring an additional 17,969 shares during the period. 52.58% of the stock is currently owned by institutional investors and hedge funds.

About MGE Energy

MGE Energy, Inc is a public utility holding company headquartered in Madison, Wisconsin. Through its principal subsidiary, Madison Gas and Electric Company (MGE), the company provides regulated electric and natural gas distribution services to residential, commercial and industrial customers in south-central Wisconsin. MGE Energy’s operations encompass the generation, transmission and distribution of electricity as well as the purchase and distribution of natural gas, with an emphasis on reliable service and system resilience.

Since reorganizing as a holding company in 2001, MGE Energy has expanded its portfolio to include nonregulated subsidiaries involved in renewable energy development, energy services and infrastructure support.