Morgan Stanley analyst Stephen Byrd maintained a Sell rating on MGE Energy (MGEE – Research Report) today and set a price target of $66.00. The company’s shares opened today at $71.56.
According to TipRanks, Byrd is a 5-star analyst with an average return of 9.4% and a 60.75% success rate. Byrd covers the Utilities sector, focusing on stocks such as CMS Energy, ONE Gas, and American Electric Power.
Currently, the analyst consensus on MGE Energy is a Moderate Sell with an average price target of $63.00.
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Based on MGE Energy’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $163.4 million and a net profit of $33.72 million. In comparison, last year the company earned a revenue of $145.87 million and had a net profit of $34.92 million
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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.