Key Points
- Director James Berbee purchased 261 MGE Energy shares at an average price of $81.30, investing $21,219.30 and increasing his holdings by 2.75% to 9,738 shares.
- MGE Energy shares opened at $80.48, with a $3.04 billion market capitalization and a 52-week range of $72.16 to $88.01. The company reported quarterly EPS of $0.89, exceeding analyst expectations of $0.77, although revenue fell short of estimates.
- Analyst sentiment remains mixed, with ratings ranging from Buy to Sell and a consensus rating of Hold; the average price target is $78.50.
MGE Energy Inc. (NASDAQ:MGEE - Get Free Report) Director James Berbee purchased 261 shares of MGE Energy stock in a transaction dated Wednesday, August 19th. The stock was acquired at an average price of $81.30 per share, for a total transaction of $21,219.30. Following the completion of the transaction, the director owned 9,738 shares in the company, valued at approximately $791,699.40. The trade was a 2.75% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
MGE Energy Price Performance
Shares of NASDAQ:MGEE opened at $80.48 on Friday. The company has a market cap of $3.04 billion, a PE ratio of 19.77 and a beta of 0.71. MGE Energy Inc. has a fifty-two week low of $72.16 and a fifty-two week high of $88.01. The firm has a 50-day simple moving average of $80.49 and a 200 day simple moving average of $78.83. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.61.
MGE Energy (NASDAQ:MGEE - Get Free Report) last issued its earnings results on Wednesday, August 5th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.77 by $0.12. The firm had revenue of $161.19 million for the quarter, compared to analysts' expectations of $166.37 million. MGE Energy had a net margin of 19.45% and a return on equity of 11.10%. On average, sell-side analysts anticipate that MGE Energy Inc. will post 3.99 EPS for the current year.
Institutional Trading of MGE Energy
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Hantz Financial Services Inc. lifted its stake in shares of MGE Energy by 63.8% in the 4th quarter. Hantz Financial Services Inc. now owns 416 shares of the utilities provider's stock worth $33,000 after acquiring an additional 162 shares during the period. Advisory Services Network LLC acquired a new stake in MGE Energy in the third quarter worth approximately $40,000. Avalon Trust Co bought a new position in MGE Energy during the 2nd quarter valued at $49,000. Parallel Advisors LLC boosted its stake in MGE Energy by 28.6% during the 3rd quarter. Parallel Advisors LLC now owns 714 shares of the utilities provider's stock valued at $60,000 after purchasing an additional 159 shares in the last quarter. Finally, Versant Capital Management Inc increased its position in shares of MGE Energy by 60.3% during the 2nd quarter. Versant Capital Management Inc now owns 744 shares of the utilities provider's stock valued at $61,000 after purchasing an additional 280 shares during the period. 52.58% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of research analysts recently commented on the company. Morgan Stanley restated an "underweight" rating and set a $76.00 price objective on shares of MGE Energy in a research note on Wednesday, July 22nd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of MGE Energy in a report on Wednesday, August 5th. Finally, LADENBURG THALM/SH SH raised MGE Energy from a "neutral" rating to a "buy" rating and set a $81.00 price objective for the company in a report on Monday, June 8th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $78.50.
Check Out Our Latest Analysis on MGE Energy
MGE Energy Company Profile
(
Get Free Report)
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.
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