MGE Energy (NASDAQ:MGEE) Sets New 12-Month High – Still a Buy?

MGE Energy, Inc. (NASDAQ:MGEE)’s stock price hit a new 52-week high on Tuesday . The company traded as high as $107.77 and last traded at $107.27, with a volume of 12593 shares changing hands. The stock had previously closed at $106.20.

Wall Street Analyst Weigh In

Separately, Morgan Stanley increased their price target on MGE Energy from $71.00 to $74.00 and gave the stock an “underweight” rating in a research report on Wednesday, September 25th.

MGE Energy Price Performance

The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.90 and a current ratio of 1.41. The business has a fifty day moving average of $91.14 and a 200-day moving average of $84.55. The firm has a market capitalization of $3.87 billion, a P/E ratio of 32.48 and a beta of 0.71.

MGE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Sunday, December 1st will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.68%. The ex-dividend date is Friday, November 29th. MGE Energy’s payout ratio is currently 55.05%.

Institutional Trading of MGE Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in MGEE. Quest Partners LLC lifted its holdings in shares of MGE Energy by 5,088.9% in the second quarter. Quest Partners LLC now owns 467 shares of the utilities provider’s stock valued at $35,000 after buying an additional 458 shares during the period. Assetmark Inc. bought a new stake in MGE Energy in the third quarter worth about $35,000. Covestor Ltd boosted its position in shares of MGE Energy by 37.3% during the 3rd quarter. Covestor Ltd now owns 453 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 123 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of MGE Energy by 244.6% in the 2nd quarter. GAMMA Investing LLC now owns 672 shares of the utilities provider’s stock worth $50,000 after purchasing an additional 477 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new stake in MGE Energy during the second quarter worth approximately $58,000. 52.58% of the stock is currently owned by institutional investors.

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.