MGE Energy Inc. (MGEE) Given Hold Rating at Gabelli
Gabelli restated their hold rating on shares of MGE Energy Inc. (NASDAQ:MGEE) in a report issued on Monday morning. Gabelli also issued estimates for MGE Energy’s FY2020 earnings at $2.50 EPS and FY2021 earnings at $2.65 EPS.
Several other research firms have also recently weighed in on MGEE. Zacks Investment Research upgraded shares of MGE Energy from a sell rating to a hold rating in a report on Thursday, September 7th. BidaskClub cut shares of MGE Energy from a sell rating to a strong sell rating in a report on Thursday, August 17th.
MGE Energy (NASDAQ MGEE) traded up $0.10 during mid-day trading on Monday, hitting $64.20. 28,900 shares of the company’s stock traded hands, compared to its average volume of 89,261. The stock has a market capitalization of $2,222.24, a P/E ratio of 29.14 and a beta of 0.34. 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.
MGE Energy (NASDAQ:MGEE) last posted its quarterly earnings results on Friday, November 3rd. The utilities provider reported $0.77 EPS for the quarter. The firm had revenue of $139.54 million for the quarter. MGE Energy had a net margin of 13.52% and a return on equity of 10.31%.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be issued a dividend of $0.3225 per share. This represents a $1.29 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend is Thursday, November 30th. MGE Energy’s dividend payout ratio (DPR) is presently 58.64%.
In related news, insider Jeffrey M. Keebler purchased 547 shares of the 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.20% of the stock is owned by insiders.
Large investors have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank raised its position in MGE Energy by 10.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,568 shares of the utilities provider’s stock worth $101,000 after buying an additional 154 shares during the last quarter. Strs Ohio raised its position in MGE Energy by 6.3% in the 2nd quarter. Strs Ohio now owns 3,400 shares of the utilities provider’s stock worth $218,000 after buying an additional 200 shares during the last quarter. Amalgamated Bank raised its position in MGE Energy by 2.9% in the 2nd quarter. Amalgamated Bank now owns 4,472 shares of the utilities provider’s stock worth $288,000 after buying an additional 126 shares during the last quarter. Ramsey Quantitative Systems purchased a new position in MGE Energy in the 2nd quarter worth about $303,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in MGE Energy in the 3rd quarter worth about $320,000. 38.04% of the stock is owned by institutional investors and hedge funds.
MGE Energy Company Profile
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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