In a report released today, Stephen Byrd from Morgan Stanley maintained a Hold rating on MGE Energy (MGEE), with a price target of $62.00. The company’s shares closed last Tuesday at $67.00.
According to TipRanks.com, Byrd is a 4-star analyst with an average return of 4.8% and a 56.5% success rate. Byrd covers the Utilities sector, focusing on stocks such as Algonquin Power & Utilities, Public Service Enterprise, and American Electric Power.
Currently, the analyst consensus on MGE Energy is a Hold with an average price target of $62.00.
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Based on MGE Energy’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $117 million and net profit of $18.79 million. In comparison, last year the company earned revenue of $122 million and had a net profit of $15.55 million.
Based on the recent corporate insider activity of 8 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MGEE in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
MGE Energy, Inc. provides natural gas and electric services. The company 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. The Regulated Gas Utility Operations segment engages in purchasing and distributing natural gas. The Non-Regulated Energy Operations segment engages in owning and leasing electric generating capacity. The Transmission Investments segment represents investment in American Transmission Company LLC, a company engaged in the business of providing electric transmission services primarily in Wisconsin. The All Other segment invests in companies and property that relate to the regulated operations and financing the regulated operations. MGE Energy was founded in 2001 and is headquartered in Madison, WI.
