MGE Energy (NASDAQ:MGEE) Upgraded to Strong Sell at LADENBURG THALM/SH SH

LADENBURG THALM/SH SH upgraded shares of MGE Energy (NASDAQ:MGEE) to a strong sell rating in a report published on Monday morning,Zacks.com reports.

MGE Energy Price Performance

Shares of MGEE opened at $92.51 on Monday. The stock has a market capitalization of $3.38 billion, a P/E ratio of 28.29 and a beta of 0.72. MGE Energy has a twelve month low of $72.27 and a twelve month high of $109.22. The company has a 50 day moving average of $90.79 and a 200-day moving average of $93.37. The company has a quick ratio of 0.94, a current ratio of 1.41 and a debt-to-equity ratio of 0.60.

MGE Energy (NASDAQ:MGEE) last released its earnings results on Tuesday, February 25th. The utilities provider reported $0.61 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.23). MGE Energy had a net margin of 17.70% and a return on equity of 10.18%. The firm had revenue of $171.42 million during the quarter. As a group, equities research analysts forecast that MGE Energy will post 3.43 EPS for the current fiscal year.

MGE Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend was Friday, February 28th. MGE Energy’s dividend payout ratio (DPR) is presently 54.05%.

Insider Transactions at MGE Energy

In related news, Director James G. Berbee purchased 446 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average cost of $90.83 per share, with a total value of $40,510.18. Following the transaction, the director now owns 11,532 shares of the company’s stock, valued at $1,047,451.56. This represents a 4.02 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MGEE. Royce & Associates LP grew its stake in shares of MGE Energy by 155.4% during the 3rd quarter. Royce & Associates LP now owns 11,668 shares of the utilities provider’s stock worth $1,067,000 after acquiring an additional 7,099 shares during the period. Thrivent Financial for Lutherans raised its holdings in shares of MGE Energy by 2.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 30,849 shares of the utilities provider’s stock valued at $2,821,000 after acquiring an additional 818 shares in the last quarter. Quest Partners LLC raised its holdings in shares of MGE Energy by 2,789.7% in the 3rd quarter. Quest Partners LLC now owns 13,495 shares of the utilities provider’s stock valued at $1,234,000 after acquiring an additional 13,028 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in shares of MGE Energy by 75.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 8,039 shares of the utilities provider’s stock valued at $735,000 after acquiring an additional 3,445 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new stake in shares of MGE Energy in the 3rd quarter valued at about $424,000. Institutional investors own 52.58% of the company’s stock.

MGE Energy Company Profile

MGE Energy, Inc, through its subsidiaries, operates as a public utility holding company primarily in the United States. It operates through Regulated Electric Utility Operations; Regulated Gas Utility Operations; Nonregulated Energy Operations; Transmission Investments; and All Other segments. The company generates, purchases, and distributes electricity and natural gas in Wisconsin and Iowa; owns and leases electric generating capacity; and plans, constructs, operates, maintains, and expands transmission facilities to provide transmission power services.