MGE Energy (NASDAQ:MGEE) PT Raised to $67.00 at Morgan Stanley

MGE Energy (NASDAQ:MGEE – Get Rating) had its target price increased by Morgan Stanley from $66.00 to $67.00 in a research note published on Monday morning, Benzinga reports. The firm currently has an underweight rating on the utilities provider’s stock.

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

MGE Energy Price Performance

Shares of NASDAQ:MGEE opened at $70.23 on Monday. The firm’s 50 day moving average price is $71.07 and its 200-day moving average price is $73.20. MGE Energy has a twelve month low of $61.67 and a twelve month high of $86.27. The company has a quick ratio of 0.64, a current ratio of 1.03 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $2.54 billion, a PE ratio of 24.73, a price-to-earnings-growth ratio of 4.86 and a beta of 0.69.

MGE Energy (NASDAQ:MGEE – Get Rating) last issued its quarterly earnings data on Thursday, November 3rd. The utilities provider reported $0.93 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.08). MGE Energy had a return on equity of 9.79% and a net margin of 14.99%. The business had revenue of $163.40 million during the quarter, compared to the consensus estimate of $159.26 million. Equities research analysts expect that MGE Energy will post 3.17 EPS for the current year.

Institutional Investors Weigh In On MGE Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MGEE. Total Clarity Wealth Management Inc. bought a new stake in MGE Energy during the 2nd quarter worth approximately $35,000. Legacy CG LLC bought a new stake in MGE Energy during the 2nd quarter worth approximately $58,000. Romano Brothers AND Company bought a new stake in MGE Energy during the 4th quarter worth approximately $58,000. Captrust Financial Advisors raised its stake in MGE Energy by 14.7% during the 2nd quarter. Captrust Financial Advisors now owns 913 shares of the utilities provider’s stock worth $71,000 after acquiring an additional 117 shares during the period. Finally, EverSource Wealth Advisors LLC purchased a new stake in MGE Energy during the 2nd quarter valued at approximately $77,000. Institutional investors own 50.74% of the company’s stock.

About MGE Energy

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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.