MGE Energy (NASDAQ:MGEE) Stock Price Down 4.2% – Should You Sell?

MGE Energy, Inc. (NASDAQ:MGEE)’s share price dropped 4.2% during trading on Wednesday . The stock traded as low as $90.28 and last traded at $90.19. Approximately 34,114 shares changed hands during trading, a decline of 73% from the average daily volume of 124,504 shares. The stock had previously closed at $94.18.

Analyst Upgrades and Downgrades

Separately, LADENBURG THALM/SH SH raised MGE Energy to a “strong sell” rating in a report on Thursday, December 12th.

MGE Energy Stock Performance

The stock’s 50 day moving average is $97.00 and its two-hundred day moving average is $91.66. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.41 and a quick ratio of 0.94. The firm has a market cap of $3.10 billion, a P/E ratio of 26.21 and a beta of 0.76.

MGE Energy (NASDAQ:MGEE) last released its earnings results on Wednesday, November 6th. The utilities provider reported $1.13 earnings per share for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.04). MGE Energy had a return on equity of 10.18% and a net margin of 17.70%. The firm had revenue of $168.48 million for the quarter, compared to the consensus estimate of $163.82 million. As a group, equities analysts predict that MGE Energy, Inc. will post 3.43 EPS for the current year.

MGE Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st will be given a dividend of $0.45 per share. The ex-dividend date is Friday, February 28th. This represents a $1.80 annualized dividend and a yield of 2.10%. MGE Energy’s dividend payout ratio (DPR) is presently 55.05%.

Hedge Funds Weigh In On MGE Energy

Institutional investors and hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its stake in shares of MGE Energy by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 425,461 shares of the utilities provider’s stock worth $38,908,000 after acquiring an additional 8,629 shares during the period. Royce & Associates LP grew its holdings in shares of MGE Energy by 155.4% during the third quarter. Royce & Associates LP now owns 11,668 shares of the utilities provider’s stock valued at $1,067,000 after buying an additional 7,099 shares during the last quarter. Susquehanna Fundamental Investments LLC lifted its position in shares of MGE Energy by 56.1% during the second quarter. Susquehanna Fundamental Investments LLC now owns 50,987 shares of the utilities provider’s stock valued at $3,810,000 after purchasing an additional 18,315 shares in the last quarter. GSA Capital Partners LLP purchased a new position in shares of MGE Energy in the 3rd quarter worth approximately $584,000. Finally, JPMorgan Chase & Co. increased its stake in shares of MGE Energy by 16.0% in the third quarter. JPMorgan Chase & Co. now owns 59,585 shares of the utilities provider’s stock worth $5,449,000 after purchasing an additional 8,233 shares in 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.