Brokerages Expect MGE Energy, Inc. (NASDAQ:MGEE) Will Post Earnings of $0.92 Per Share

Wall Street brokerages expect MGE Energy, Inc. (NASDAQ:MGEE) to post earnings of $0.92 per share for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have made estimates for MGE Energy’s earnings. MGE Energy reported earnings of $0.88 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 4.5%. The firm is scheduled to report its next earnings results on Thursday, November 4th.

According to Zacks, analysts expect that MGE Energy will report full year earnings of $2.90 per share for the current year, with EPS estimates ranging from $2.85 to $2.94. For the next financial year, analysts anticipate that the business will report earnings of $3.12 per share, with EPS estimates ranging from $2.92 to $3.32. Zacks’ earnings per share calculations are an average based on a survey of analysts that cover MGE Energy.

MGE Energy (NASDAQ:MGEE) last announced its quarterly earnings data on Thursday, August 5th. The utilities provider reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.01. The firm had revenue of $130.73 million during the quarter. MGE Energy had a return on equity of 10.66% and a net margin of 18.48%.

Several brokerages have weighed in on MGEE. Morgan Stanley dropped their price objective on MGE Energy from $74.00 to $73.00 and set an “equal weight” rating for the company in a report on Friday. Zacks Investment Research cut MGE Energy from a “hold” rating to a “sell” rating in a report on Tuesday.

Shares of NASDAQ MGEE opened at $75.81 on Tuesday. The stock has a market capitalization of $2.74 billion, a PE ratio of 25.96, a P/E/G ratio of 4.93 and a beta of 0.57. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.31 and a quick ratio of 1.00. The business has a fifty day moving average price of $79.28 and a two-hundred day moving average price of $75.72. MGE Energy has a fifty-two week low of $59.70 and a fifty-two week high of $82.95.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 15th. Stockholders of record on Wednesday, September 1st were paid a $0.3875 dividend. This is a positive change from MGE Energy’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Tuesday, August 31st. This represents a $1.55 annualized dividend and a dividend yield of 2.04%. MGE Energy’s dividend payout ratio (DPR) is presently 59.62%.

In other MGE Energy news, Director James G. Berbee purchased 374 shares of the firm’s stock in a transaction dated Thursday, August 26th. The shares were bought at an average price of $80.26 per share, for a total transaction of $30,017.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.18% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio grew its position in MGE Energy by 12.5% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 1,180 shares of the utilities provider’s stock worth $88,000 after acquiring an additional 131 shares during the last quarter. Independent Advisor Alliance grew its position in MGE Energy by 1.5% during the 2nd quarter. Independent Advisor Alliance now owns 8,956 shares of the utilities provider’s stock worth $667,000 after acquiring an additional 132 shares during the last quarter. ICW Investment Advisors LLC grew its position in MGE Energy by 2.3% during the 2nd quarter. ICW Investment Advisors LLC now owns 6,143 shares of the utilities provider’s stock worth $457,000 after acquiring an additional 138 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in MGE Energy by 0.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,782 shares of the utilities provider’s stock worth $1,547,000 after acquiring an additional 155 shares during the last quarter. Finally, CWM Advisors LLC grew its position in MGE Energy by 3.1% during the 2nd quarter. CWM Advisors LLC now owns 6,270 shares of the utilities provider’s stock worth $467,000 after acquiring an additional 190 shares during the last quarter. Institutional investors and hedge funds own 49.89% of the company’s stock.

About MGE Energy

MGE Energy, Inc provides natural gas and electric services. The firm operates its business through the following segments: Regulated Electric Utility Operations, Regulated Gas Utility Operations, Non-Regulated Energy Operations, Transmission Investments, and All Other. The Regulated Electric Utility Operations segment engages in generating, purchasing, and distributing electricity.

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