MGE Energy (NASDAQ:MGEE) Given New $80.00 Price Target at Morgan Stanley

MGE Energy (NASDAQ:MGEE) had its price objective boosted by equities researchers at Morgan Stanley from $78.00 to $80.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “underweight” rating on the utilities provider’s stock. Morgan Stanley’s price target indicates a potential downside of 13.84% from the company’s current price.

Separately, LADENBURG THALM/SH SH upgraded shares of MGE Energy to a “strong sell” rating in a research report on Monday.

MGE Energy Price Performance

NASDAQ:MGEE traded up $0.34 on Thursday, reaching $92.85. The stock had a trading volume of 17,739 shares, compared to its average volume of 147,922. The company has a market capitalization of $3.39 billion, a P/E ratio of 28.40 and a beta of 0.72. MGE Energy has a 1-year low of $72.27 and a 1-year high of $109.22. The company has a quick ratio of 0.94, a current ratio of 1.41 and a debt-to-equity ratio of 0.60. The stock has a fifty day moving average price of $90.79 and a 200-day moving average price of $93.37.

MGE Energy (NASDAQ:MGEE) last released its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.23). The firm 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%. Research analysts forecast that MGE Energy will post 3.43 EPS for the current year.

Insider Transactions at MGE Energy

In related news, Director James G. Berbee bought 446 shares of MGE Energy stock in a transaction dated Wednesday, March 12th. The shares were bought at an average cost of $90.83 per share, for a total transaction of $40,510.18. Following the completion of the transaction, the director now owns 11,532 shares of the company’s stock, valued at approximately $1,047,451.56. This trade represents a 4.02 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.19% of the stock is owned by company insiders.

Hedge Funds Weigh In On MGE Energy

Large investors have recently modified their holdings of the stock. Versant Capital Management Inc raised its stake in shares of MGE Energy by 367.1% during the fourth quarter. Versant Capital Management Inc now owns 327 shares of the utilities provider’s stock worth $31,000 after buying an additional 257 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of MGE Energy by 88.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 357 shares of the utilities provider’s stock worth $34,000 after buying an additional 168 shares during the last quarter. Sterling Capital Management LLC raised its stake in shares of MGE Energy by 656.2% during the fourth quarter. Sterling Capital Management LLC now owns 673 shares of the utilities provider’s stock worth $63,000 after buying an additional 584 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in shares of MGE Energy by 507.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,112 shares of the utilities provider’s stock worth $105,000 after buying an additional 929 shares during the last quarter. Finally, Focus Partners Wealth bought a new stake in shares of MGE Energy during the fourth quarter worth approximately $116,000. 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.