MGE Energy Inc. (MGEE) Earns Hold Rating from Gabelli
Gabelli reaffirmed their hold rating on shares of MGE Energy Inc. (NASDAQ:MGEE) in a research note issued to investors on Monday. Gabelli also issued estimates for MGE Energy’s FY2020 earnings at $2.50 EPS and FY2021 earnings at $2.65 EPS.
Several other equities research analysts have also commented on the stock. BidaskClub lowered shares of MGE Energy from a sell rating to a strong sell rating in a research report on Thursday, August 17th. Zacks Investment Research raised shares of MGE Energy from a sell rating to a hold rating in a research report on Thursday, September 7th.
MGE Energy (MGEE) opened at $64.20 on Monday. MGE Energy has a 52-week low of $58.08 and a 52-week high of $68.70. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.02 and a quick ratio of 2.47. The firm has a market capitalization of $2,225.71, a PE ratio of 29.18 and a beta of 0.34.
MGE Energy (NASDAQ:MGEE) last issued its earnings results on Friday, November 3rd. The utilities provider reported $0.77 earnings per share for the quarter. MGE Energy had a return on equity of 10.31% and a net margin of 13.52%. The business had revenue of $139.54 million during the quarter.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a dividend of $0.3225 per share. This represents a $1.29 annualized dividend and a dividend yield of 2.01%. The ex-dividend date is Thursday, November 30th. MGE Energy’s payout ratio is currently 58.64%.
In other MGE Energy news, insider Jeffrey M. Keebler purchased 547 shares of MGE Energy stock in a transaction dated Tuesday, September 5th. The stock was purchased at an average price of $64.02 per share, with a total value of $35,018.94. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in MGEE. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of MGE Energy by 10.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,568 shares of the utilities provider’s stock valued at $101,000 after purchasing an additional 154 shares during the last quarter. Strs Ohio increased its position in shares of MGE Energy by 6.3% during the 2nd quarter. Strs Ohio now owns 3,400 shares of the utilities provider’s stock valued at $218,000 after purchasing an additional 200 shares during the last quarter. Amalgamated Bank increased its position in shares of MGE Energy by 2.9% during the 2nd quarter. Amalgamated Bank now owns 4,472 shares of the utilities provider’s stock valued at $288,000 after purchasing an additional 126 shares during the last quarter. Ramsey Quantitative Systems purchased a new stake in shares of MGE Energy during the 2nd quarter valued at about $303,000. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in shares of MGE Energy during the 3rd quarter valued at about $320,000. 38.04% of the stock is owned by hedge funds and other institutional investors.
About MGE Energy
MGE Energy, Inc (MGE) is a public utility holding company. The Company operates through five segments: Regulated electric utility operations; Regulated gas utility operations; Nonregulated energy operations; Transmission investments, and All other. The Regulated electric utility operations segment is engaged in generating, purchasing and distributing electricity through Madison Gas and Electric Company (MGE).
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