MGE Energy (NASDAQ:MGEE) Price Target Increased to $63.00 by Analysts at Morgan Stanley

MGE Energy (NASDAQ:MGEEGet Rating) had its price target boosted by Morgan Stanley from $59.00 to $63.00 in a report released on Friday morning, Marketbeat reports. The brokerage currently has an underweight rating on the utilities provider’s stock.

Separately, StockNews.com initiated coverage on shares of MGE Energy in a research report on Wednesday, October 12th. They issued a hold rating on the stock.

MGE Energy Price Performance

MGEE stock opened at $69.13 on Friday. The stock has a market capitalization of $2.50 billion, a PE ratio of 24.34, a price-to-earnings-growth ratio of 5.43 and a beta of 0.68. The company’s 50-day moving average is $69.65 and its 200-day moving average is $75.95. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.03 and a quick ratio of 0.64. MGE Energy has a 1 year low of $61.67 and a 1 year high of $86.27.

MGE Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be given a $0.407 dividend. The ex-dividend date is Wednesday, November 30th. This represents a $1.63 annualized dividend and a yield of 2.35%. MGE Energy’s payout ratio is 57.39%.

Hedge Funds Weigh In On MGE Energy

Large investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC bought a new position in MGE Energy in the 2nd quarter valued at about $77,000. WINTON GROUP Ltd purchased a new stake in MGE Energy in the 1st quarter valued at about $229,000. Madison Asset Management LLC increased its stake in MGE Energy by 16.7% in the 1st quarter. Madison Asset Management LLC now owns 3,138 shares of the utilities provider’s stock valued at $250,000 after buying an additional 448 shares during the last quarter. Teacher Retirement System of Texas increased its stake in MGE Energy by 7.1% in the 1st quarter. Teacher Retirement System of Texas now owns 7,482 shares of the utilities provider’s stock valued at $597,000 after buying an additional 496 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in MGE Energy by 7.7% in the 2nd quarter. Victory Capital Management Inc. now owns 1,262,569 shares of the utilities provider’s stock valued at $98,265,000 after buying an additional 90,529 shares during the last quarter. Institutional investors own 50.39% of the company’s stock.

MGE Energy Company Profile

(Get Rating)

MGE Energy, Inc, through its subsidiaries, operates as a public utility holding company primarily in Wisconsin. It operates through 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.

Featured Articles

Receive News & Ratings for MGE Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MGE Energy and related companies with MarketBeat.com's FREE daily email newsletter.