Morgan Stanley Forecasts Strong Price Appreciation for MGE Energy (NASDAQ:MGEE) Stock

MGE Energy (NASDAQ:MGEE) had its target price boosted by analysts at Morgan Stanley from $78.00 to $80.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “underweight” rating on the utilities provider’s stock. Morgan Stanley’s target price suggests a potential downside of 12.39% from the stock’s current price.

Separately, LADENBURG THALM/SH SH raised shares of MGE Energy to a “strong sell” rating in a research note on Monday, March 17th.

MGE Energy Trading Down 1.4 %

MGEE opened at $91.31 on Thursday. The stock has a market capitalization of $3.33 billion, a PE ratio of 27.92 and a beta of 0.72. MGE Energy has a one year low of $72.27 and a one year high of $109.22. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.94 and a current ratio of 1.41. The business’s 50 day moving average price is $90.88 and its 200 day moving average price is $93.40.

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

Insider Buying and Selling at MGE Energy

In other MGE Energy news, Director James G. Berbee purchased 446 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was bought at an average price of $90.83 per share, with a total value of $40,510.18. Following the transaction, the director now directly owns 11,532 shares of the company’s stock, valued at approximately $1,047,451.56. This represents a 4.02 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

Institutional Trading of MGE Energy

Several hedge funds have recently modified their holdings of the stock. Merit Financial Group LLC grew its stake in MGE Energy by 1.7% during the 4th quarter. Merit Financial Group LLC now owns 7,079 shares of the utilities provider’s stock worth $665,000 after purchasing an additional 116 shares in the last quarter. Savant Capital LLC grew its position in shares of MGE Energy by 2.9% during the fourth quarter. Savant Capital LLC now owns 4,922 shares of the utilities provider’s stock worth $462,000 after buying an additional 139 shares in the last quarter. EnRich Financial Partners LLC increased its stake in shares of MGE Energy by 8.7% during the fourth quarter. EnRich Financial Partners LLC now owns 1,744 shares of the utilities provider’s stock worth $164,000 after buying an additional 139 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its holdings in MGE Energy by 88.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 357 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 168 shares in the last quarter. Finally, Summit Investment Advisors Inc. lifted its stake in MGE Energy by 4.7% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,814 shares of the utilities provider’s stock worth $358,000 after acquiring an additional 172 shares during the last quarter. 52.58% of the stock is currently owned by institutional investors and hedge funds.

About MGE Energy

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.