MGE Energy Inc. (NASDAQ:MGEE) – Investment analysts at Gabelli issued their FY2020 earnings per share estimates for MGE Energy in a research report issued on Monday. Gabelli analyst T. Winter expects that the utilities provider will post earnings of $2.50 per share for the year. Gabelli has a “Hold” rating on the stock. Gabelli also issued estimates for MGE Energy’s FY2021 earnings at $2.65 EPS.
MGE Energy (NASDAQ:MGEE) last announced its earnings results on Friday, November 3rd. The utilities provider reported $0.77 earnings per share (EPS) for the quarter. MGE Energy had a return on equity of 10.31% and a net margin of 13.52%. The firm had revenue of $139.54 million during the quarter.
Several other brokerages have also weighed in on MGEE. BidaskClub lowered MGE Energy from a “sell” rating to a “strong sell” rating in a report on Thursday, August 17th. Zacks Investment Research raised MGE Energy from a “sell” rating to a “hold” rating in a report on Thursday, September 7th.
Shares of MGE Energy (NASDAQ MGEE) traded up $0.10 during trading on Tuesday, hitting $64.20. The stock had a trading volume of 28,900 shares, compared to its average volume of 89,261. MGE Energy has a 1 year low of $58.08 and a 1 year high of $68.70. The stock has a market cap of $2,222.24, a price-to-earnings ratio of 29.14 and a beta of 0.34. The company has a current ratio of 3.02, a quick ratio of 2.47 and a debt-to-equity ratio of 0.52.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a $0.3225 dividend. The ex-dividend date is Thursday, November 30th. This represents a $1.29 annualized dividend and a yield of 2.01%. MGE Energy’s dividend payout ratio is currently 58.64%.
In related news, insider Jeffrey M. Keebler bought 547 shares of the business’s stock in a transaction on Tuesday, September 5th. The stock was acquired at an average price of $64.02 per share, for a total transaction of $35,018.94. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.20% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted 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 acquiring an additional 154 shares during the last quarter. Strs Ohio boosted 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 acquiring an additional 200 shares during the last quarter. Amalgamated Bank boosted 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 acquiring an additional 126 shares during the last quarter. Ramsey Quantitative Systems bought a new stake in shares of MGE Energy during the 2nd quarter valued at about $303,000. Finally, Campbell & CO Investment Adviser LLC bought a new stake in shares of MGE Energy during the 3rd quarter valued at about $320,000. Hedge funds and other institutional investors own 38.04% of the company’s stock.
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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