MGE Energy (NASDAQ:MGEE) Azioni

MGE Energy

MGE Energy provides electric service to 161,000 customers and natural gas service to 173,000 customers in Madison, Wisconsin, and surrounding areas. Nearly 90% of customers are residential. The company also owns a 3.6% stake in American Transmission Co. MGE owns interests in two coal power plants that earn guaranteed fixed rates of return, contributing about 20% of earnings. MGE's generation mix is 40% coal, 21% renewable energy, 17% natural gas, and third-party purchased power.

MGE Energy Inc

MGE Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGEE#NASDAQ">MGEE</a>) reported quarterly earnings of $1.14 per share which beat the analyst consensus estimate of $0.98 by 16.33 percent. This is a 22.58 percent increase over earnings of $0.93 per share from the same period last year. The company reported $218.97 million in sales this quarter. This is a 14.44 percent increase over sales of $191.34 million the same period last year.

Earnings

Earnings Beats

News

MGEE

MGE Energy Q1 EPS $1.14 Beats $0.98 Estimate, Sales $218.97M Up From $191.34M YoY

Morgan Stanley analyst Stephen Byrd maintains MGE Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGEE#NASDAQ">MGEE</a>) with a Underweight and raises the price target from $78 to $80.

Price Target

Analyst Ratings

Morgan Stanley Maintains Underweight on MGE Energy, Raises Price Target to $80

MGE Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGEE#NASDAQ">MGEE</a>) reported quarterly earnings of $1.13 per share which missed the analyst consensus estimate of $1.17 by 3.42 percent. This is a 7.62 percent increase over earnings of $1.05 per share from the same period last year. The company reported $168.48 million in sales this quarter. This is a 4.95 percent increase over sales of $160.53 million the same period last year.

Earnings Misses

MGE Energy Q3 EPS $1.13 Misses $1.17 Estimate, Sales $168.48M Up From $160.53M YoY

Each week,&nbsp;Benzinga's Stock Whisper Index&nbsp;uses a combination of proprietary data and pattern recognition to showcase five stocks that are just under the&nbsp;<a href="https://www.benzinga.com/topic/stock-whisper-index" target="_blank" rel="noreferrer noopener">surface and deserve attention</a>.
Investors are constantly on the hunt for undervalued, under-followed and emerging stocks. With countless methods available to retail traders, the challenge often lies in sifting through the abundance of information to uncover new opportunities and understand why certain stocks should be of interest.
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Here&#8217;s a look at the Benzinga Stock Whisper Index for the week of Oct. 18:
MGE Energy Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGEE#NASDAQ">MGEE</a>) is new to the Stock Whisper Index. The electric and natural gas company, which covers the Wisconsin area, saw increased interest from readers. Shares are trading near a 52-week high, with third-quarter financial results expected in late October. Morgan Stanley <a href="https://www.benzinga.com/quote/MGEE/analyst-ratings">maintained an Underweight rating</a> on the stock in September and raised the price target from $71 to $74. Shares of MGE Energy were up over 3% over the last five days as shown on the <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent101824&amp;t=be2bearmibe3na1">Benzinga Pro chart</a> below and are up 27% year-to-date in 2024.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent101824&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="995" height="501" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/18102636/Screenshot-212.png" alt="" class="wp-image-602867" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/18102636/Screenshot-212.png 995w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/18102636/Screenshot-212-300x151.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/18102636/Screenshot-212-768x387.png 768w" sizes="(max-width: 995px) 100vw, 995px" /></a></figure>
Apollo Global (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APO#NYSE">APO</a>) saw increased interest from Benzinga readers during the week. The stock also trades near a 52-week high. This comes as <a href="https://www.benzinga.com/news/24/10/41298071/bank-stocks-surge-as-jpmorgan-and-wells-fargo-lead-strong-q3-earnings-rally">bank stocks and financial service companies</a> have reported quarterly financial results that beat estimates and showed strength in the sector. Several Apollo peers <a href="https://www.benzinga.com/markets/24/10/41400161/morgan-stanley-analysts-optimistic-after-q3-fed-rate-declines-should-drive-robust-growth-in-asset-ma">showed strength</a> that could have investors anticipating a strong third-quarter report from the company on Nov. 5. Analysts expect the company to report earnings per share of $1.72 and revenue of $4.14 billion. The alternative investment management company has missed analyst estimates for earnings per share in three of the last five quarters. But revenue has been a much different story. Apollo enjoyed three straight beats and totals higher than analyst estimates in eight of the last 10 quarters. Apollo shares are up over 5% in the last five days and up over 59% year-to-date in 2024.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent101824&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="995" height="506" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/18102657/Screenshot-213.png" alt="" class="wp-image-602868" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/18102657/Screenshot-213.png 995w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/18102657/Screenshot-213-300x153.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/18102657/Screenshot-213-768x391.png 768w" sizes="(max-width: 995px) 100vw, 995px" /></a></figure>
ServiceNow Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>) saw increased interest from readers on the heels of announcing a<a href="https://www.benzinga.com/markets/equities/24/10/41313277/servicenow-commits-1-5b-to-uk-ai-and-workforce-growth"> $1.5 billion investment</a> in the U.K. to grow its innovation and artificial intelligence work. The software company will report third-quarter financial results on Oct. 23. Analysts expect the company to report earnings per share of $3.46 and revenue of $2.74 billion. The company has beaten analyst estimates on earnings per share in more than 10 straight quarters and beaten revenue estimates in six straight quarters. In <a href="https://www.benzinga.com/news/earnings/24/07/39944577/servicenow-q2-earnings-revenue-beat-eps-beat-servicenow-intends-to-reinvent-every-workflow-in-every">second-quarter results,</a> ServiceNow CEO Bill McDermott said the company's "relevance as the AI Platform for business transformation remains stronger than ever," which could be a good sign for future quarterly results. McDermott said ServiceNow plans to reinvent workflow in every industry it can, powered by generative AI.
Analysts have been <a href="https://www.benzinga.com/quote/NOW/analyst-ratings">raising their price targets</a> on ServiceNow ahead of the quarterly earnings. ServiceNow shares were down on the week, but remain up over 30% year-to-date.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent101824&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="995" height="502" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/18102715/Screenshot-214.png" alt="" class="wp-image-602872" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/18102715/Screenshot-214.png 995w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/18102715/Screenshot-214-300x151.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/18102715/Screenshot-214-768x387.png 768w" sizes="(max-width: 995px) 100vw, 995px" /></a></figure>
Vistra Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VST#NYSE">VST</a>) <a href="https://www.benzinga.com/top-stories/24/09/41072065/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet">rejoins the Stock Whisper Index</a> with strong interest from Benzinga readers due to the energy sector and particularly companies exposed to the<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41176088/what-happened-with-vistra-constellation-energy-stocks-today"> nuclear energy sector </a>seeing rising interest thanks to growing demand for data centers and AI infrastructure. The energy company will report third-quarter financial results on Oct. 7 with earnings per share of $1.09 and revenue of $5.01 billion expected by analysts.
Vistra has missed earnings per share estimates in three of the last four quarters and revenue estimates in four of the last five quarters. The third quarter results could show if the company can beat estimates and show its strength in the sector. Analysts have been increasing their price targets on Vistra ahead of the earnings report and JPMorgan recently initiated coverage with an Overweight rating and $178 price target. The stock was up over 8% during the last five trading days as nuclear energy remains a hot investor topic. With a gain of over 230% year-to-date, Vistra stock is one of the best-performing S&amp;P 500 stocks.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent101824&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="997" height="506" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/18102742/Screenshot-215.png" alt="" class="wp-image-602876" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/18102742/Screenshot-215.png 997w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/18102742/Screenshot-215-300x152.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/18102742/Screenshot-215-768x390.png 768w" sizes="(max-width: 997px) 100vw, 997px" /></a></figure>
Uber Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) saw increased interest from readers as the ride-share company considers a bid for Expedia Group Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPE#NASDAQ">EXPE</a>)<a href="https://www.benzinga.com/news/24/10/41383838/expedia-shares-rises-by-around-6-whats-going-on"> according to reports</a>. Uber&#8217;s current CEO, Dara Khosrowshahi, previously led Expedia as CEO for 12 years. The report comes as Uber has considered acquisitions for growth and to diversify its business into a travel superapp. Khosrowshahi also <a href="https://www.benzinga.com/news/24/10/41328039/as-elon-musk-unveils-cybercab-uber-ceo-weighs-in-on-robotaxi-competiton-from-waymo-tesla-dont-think">showed minimal concern</a> over competition from Tesla Inc&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41259841/uber-vs-tesla-maybe-not-analysts-say-autonomous-vehicles-will-be-market-expanding">robotaxi</a>. 
"I don't think this is going to be a winner-take-all marketplace. We believe in the spirit of partnership. We'll see what Tesla does, and either we'll compete with them, or we'll work with them, or a combination therof," Khosrowshahi said.
Uber will report quarterly results on Oct. 31, which could provide more commentary on the competition from Tesla and acquisition plans. The stock was down 2% on the week and is up over 35% year-to-date in 2024.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent101824&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="995" height="503" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/18102802/Screenshot-216.png" alt="" class="wp-image-602877" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/18102802/Screenshot-216.png 995w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/18102802/Screenshot-216-300x152.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/18102802/Screenshot-216-768x388.png 768w" sizes="(max-width: 995px) 100vw, 995px" /></a></figure>
Stay tuned for next week's report, and follow Benzinga Pro for all the latest headlines and&nbsp;<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent101124&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener">top market-moving stories here.</a>
Read the latest Stock Whisper Index reports here:
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Exclusives

Trading Ideas

EXPE

TSLA

UBER

Benzinga's 'Stock Whisper' Index: 5 Stocks Investors Secretly Monitor But Don't Talk About Yet

Morgan Stanley analyst Stephen Byrd maintains MGE Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGEE#NASDAQ">MGEE</a>) with a Underweight and raises the price target from $71 to $74.

Morgan Stanley Maintains Underweight on MGE Energy, Raises Price Target to $74

Morgan Stanley analyst Stephen Byrd maintains MGE Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGEE#NASDAQ">MGEE</a>) with a Underweight and raises the price target from $66 to $71.

Morgan Stanley Maintains Underweight on MGE Energy, Raises Price Target to $71

Payable Sept. 15, 2024, To Shareholders Of Record On Sept. 1, 2024.

Dividends

MGE Energy Board Of Directors Increases Quarterly Dividend Rate By 5.3% To $0.45 Per Share, Raising Annualized Rate To $1.80 Per Share

MGE (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mgee#NASDAQ">MGEE</a>) came out with quarterly earnings of $0.66 per share, missing the Zacks Consensus Estimate of $0.95 per share. This compares to earnings of $0.79 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -30.53%. A quarter ago, it was expected that this public utility holding company would post earnings of $0.94 per share when it actually produced earnings of $0.93, delivering a surprise of -1.06%.
Over the last four quarters, the company has not been able to surpass consensus EPS estimates.
MGE, which belongs to the Zacks Utility - Electric Power industry, posted revenues of $145.71 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 3.69%. This compares to year-ago revenues of $148 million. The company has not been able to beat consensus revenue estimates over the last four quarters.
The sustainability of the stock&#39;s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management&#39;s commentary on the earnings call.
MGE shares have added about 18% since the beginning of the year versus the S&amp;P 500&#39;s gain of 9.9%.
<h2>What&#39;s Next for MGE?</h2>
While MGE has outperformed the market so far this year, the question that comes to investors&#39; minds is: what&#39;s next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company&#39;s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for MGE: mixed. While the magnitude and direction of estimate revisions could change following the company&#39;s just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $1.17 on $163.82 million in revenues for the coming quarter and $3.69 on $674.38 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Utility - Electric Power is currently in the top 37% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, Vistra Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vst#NYSE">VST</a>), has yet to report results for the quarter ended June 2024. The results are expected to be released on August 8.
This company is expected to post quarterly earnings of $1.59 per share in its upcoming report, which represents a year-over-year change of +54.4%. The consensus EPS estimate for the quarter has been revised 5% lower over the last 30 days to the current level.
Vistra Corp.&#39;s revenues are expected to be $4.04 billion, up 26.7% from the year-ago quarter.
<a href="https://www.zacks.com/stock/news/2318331/mge-mgee-misses-q2-earnings-and-revenue-estimates?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_4-2318331">To read this article on Zacks.com click here.</a>

Markets

MGE Misses Q2 Earnings and Revenue Estimates

Morgan Stanley analyst Stephen Byrd maintains MGE Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGEE#NASDAQ">MGEE</a>) with a Underweight and lowers the price target from $68 to $65.

Morgan Stanley Maintains Underweight on MGE Energy, Lowers Price Target to $65

Morgan Stanley analyst Stephen Byrd maintains MGE Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGEE#NASDAQ">MGEE</a>) with a Underweight and raises the price target from $63 to $68.

Morgan Stanley Maintains Underweight on MGE Energy, Raises Price Target to $68

MGE Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGEE#NASDAQ">MGEE</a>) reported quarterly earnings of $0.93 per share. The company reported $191.34 million in sales this quarter. This is a 11.93 percent decrease over sales of $217.25 million the same period last year.

MGE Energy Q1 2024 GAAP EPS $0.93, Sales $191.34M Down From $217.25M YoY

Shares of Bitdeer Technologies Group (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/btdr#NASDAQ">BTDR</a>) rose sharply during Monday&rsquo;s session after the company reported preliminary fourth-quarter financial results, announced the successful testing of its SEAL01 Bitcoin mining chip and amid overall strength in the price of Bitcoin.
Bitdeer Technologies Group shares jumped 10.2% to $7.45 on Monday.
Here are some other stocks moving in today&#39;s mid-day session.
<h3>Gainers</h3>
<ul>
<li>BitFuFu Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fufu#NASDAQ">FUFU</a>) shares jumped 107% to $13.20 amid volatility following the company&#39;s recent business combination with Arisz Acquisition Corp and listing on the Nasdaq.</li>
<li>Quoin Pharmaceuticals, Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qnrx#NASDAQ">QNRX</a>) climbed 89% to $5.31 after the company announced FDA clearance to recruit teen subjects into both of its ongoing Netherton Syndrome clinical studies.</li>
<li>Renalytix Plc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rnlx#NASDAQ">RNLX</a>) gained 52.8% to $1.5890 after the company announced that it received an unsolicited approach from a publicly listed strategic diagnostics company.</li>
<li>Phunware, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/phun#NASDAQ">PHUN</a>) climbed 42.7% to $10.11. Phunware is expected to report fourth-quarter results on March 12, 2024.</li>
<li>Ainos, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aimd#NASDAQ">AIMD</a>) gained 39.4% to $1.4650.</li>
<li>Jaguar Health, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/jagx#NASDAQ">JAGX</a>) shares climbed 38.2% to $0.1223 after surging 50% on Friday.</li>
<li>Cardiff Oncology, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/crdf#NASDAQ">CRDF</a>) rose 31.6% to $3.83 after the company reported better-than-expected fourth-quarter financial results, provided a clinical update on the Phase 2 randomized second-line ONSEMBLE trial in patients with RAS-mutated mCRC and announced the first patient was dosed in the randomized first-line RAS-mutated mCRC trial.</li>
<li>The E.W. Scripps Company (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ssp#NASDAQ">SSP</a>) gained 31.3% to $4.94. E.W. Scripps Director Charles L. Barmonde acquired a total of 10,500 shares an average price of $4.28.</li>
<li>Helius Medical Technologies, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hsdt#NASDAQ">HSDT</a>) climbed 30% to $5.91. Helius Medical Technologies announced it secured HCPCS codes for portable neuromodulation stimulator mouthpiece and controller.</li>
<li>Kineta, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ka#NASDAQ">KA</a>) gained 27% to $1.14. Kineta recently announced a restructuring and the exploration of strategic alternatives.</li>
<li>BigBear.ai Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bbai#NYSE">BBAI</a>) rose 25% to $4.3472.</li>
<li>Critical Metals Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/crml#NASDAQ">CRML</a>) gained 24.4% to $12.44.</li>
<li>Ocean Biomedical, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ocea#NASDAQ">OCEA</a>) gained 22% to $2.44.</li>
<li>Reliance Global Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/reli#NASDAQ">RELI</a>) rose 21.7% to $0.6299 after gaining 11% on Friday.</li>
<li>Akero Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/akro#NASDAQ">AKRO</a>) climbed 21.1% to $33.69 after gaining 3% on Friday.</li>
<li>89bio, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/etnb#NASDAQ">ETNB</a>) gained 20.3% to $15.18.</li>
<li>Nektar Therapeutics (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nktr#NASDAQ">NKTR</a>) gained 19.4% to $0.9315. Nektar Therapeutics announced a $30 million private placement financing with TCGX.</li>
<li>Super Micro Computer, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/smci#NASDAQ">SMCI</a>) shares gained 18.9% to $1,076.45. Super Micro Computer will join the S&amp;P 500 Index, effective March 18, S&amp;P Dow Jones Indices, a division of S&amp;P Global, said in a release.</li>
<li>MicroStrategy Incorporated (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mstr#NASDAQ">MSTR</a>) gained 17.8% to $1,271.51 amid strength in Bitcoin.</li>
<li>Macy&#39;s, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/m#NYSE">M</a>) rose 16.3% to $20.95 after Arkhouse and Brigade Capital increased their offer to acquire Macy&#39;s to $24 per share.</li>
<li>Renovaro Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/renb#NASDAQ">RENB</a>) gained 14.3% to $2.64.</li>
<li>Digital World Acquisition Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dwac#NASDAQ">DWAC</a>) gained 13.4% to $44.18 after falling over 5% on Friday.</li>
<li>MGE Energy, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mgee#NASDAQ">MGEE</a>) rose 12% to $70.75. MGE Energy will replace iRobot in the S&amp;P SmallCap 600.</li>
<li>BGC Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bgc#NASDAQ">BGC</a>) gained 11.8% to $7.93. BGC Group is set to join S&amp;P SmallCap 600.</li>
<li>Jin Medical International Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/zjyl#NASDAQ">ZJYL</a>) climbed 11.6% to $7.10.</li>
<li>H&amp;R Block, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hrb#NYSE">HRB</a>) gained 8.9% to $52.08.</li>
<li>Aadi Bioscience, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aadi#NASDAQ">AADI</a>) shares surged 8.8% to $2.0899 after the company announced publication of long-term efficacy and safety data further supporting FYARRO&reg; for the treatment of malignant PEComa.</li>
<li>MSP Recovery, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lifw#NASDAQ">LIFW</a>) shares rose 7.7% to $1.11. LifeWallet announced a comprehensive settlement with 28 affiliated property and casualty insurers, benefiting LifeWallet&rsquo;s <a href="https://www.benzinga.com/money/best-medicare-advantage-plans/">medicare</a> clients across the U.S.</li>
<li>Coinbase Global, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/coin#NASDAQ">COIN</a>) climbed 7.5% to $221.11 amid a rise in the price of Bitcoin.</li>
<li>Box, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/box#NYSE">BOX</a>) gained 6.6% to $28.30. Box will replace Forrester Research Inc in the S&amp;P SmallCap 600.</li>
</ul>
<h3>Losers</h3>
<ul>
<li>BioVie Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bivi#NASDAQ">BIVI</a>) fell 42.7% to $1.0830 after the company reported pricing of public offering.</li>
<li>JOANN Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/joan#NASDAQ">JOAN</a>) fell 38.7% to $ .3102&nbsp;following a report suggesting the company may file for bankruptcy soon.</li>
<li>Astra Space, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/astr#NASDAQ">ASTR</a>) dipped 35% to $0.8598.</li>
<li>BioCardia, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bcda#NASDAQ">BCDA</a>) fell 23.3% to $0.4449 after reporting interim results from Phase III CardiAMP cell therapy heart failure trial.</li>
<li>MMTec, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mtc#NASDAQ">MTC</a>) declined 21.8% to $2.00.</li>
<li>Vivani Medical, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vani#NASDAQ">VANI</a>) declined 21.7% to $2.4199. Vivani Medical recently announced the pricing of a $15 million registered direct offering of common stock and warrants.</li>
<li>Interactive Strength Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/trnr#NASDAQ">TRNR</a>) tumbled 19.8% to $0.40. Interactive Strength recently announced it has entered into an exclusive worldwide distribution agreement with WOODWAY to sell and distribute CLMBR.</li>
<li>Infobird Co., Ltd (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ifbd#NASDAQ">IFBD</a>) dipped 19.3% to $5.03</li>
<li>Minim, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/minm#NASDAQ">MINM</a>) fell 18.4% to $4.7395 after jumping 35% on Friday.</li>
<li>Avidity Biosciences, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rna#NASDAQ">RNA</a>) fell 16.6% to $16.78. Avidity Biosciences announced new long-term AOC 1001 data from the Marina-OLE trial showing reversal of disease progression in Myotonic Dystrophy Type 1 patients across multiple endpoints.</li>
<li>Playtika Holding Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pltk#NASDAQ">PLTK</a>) fell 14.8% to $6.44</li>
<li>Aptevo Therapeutics Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/apvo#NASDAQ">APVO</a>) declined 14.7% to $0.1399.</li>
<li>J-Long Group Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/jl#NASDAQ">JL</a>) shares dipped 14.3% to $1.98 after jumping over 15% on Friday. J-Long Group recently declared a special cash dividend in aggregate amount of $6 million.</li>
<li>Sunshine Biopharma, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sbfm#NASDAQ">SBFM</a>) fell 14.3% to $0.0474. Sunshine Biopharma, last month, announced closing of $10.0 million underwritten public offering.</li>
<li>New York Community Bancorp, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nycb#NASDAQ">NYCB</a>) fell 13.6% to $3.0650 after the company announced that it identified material weaknesses in its internal controls related to internal loan review, that resulted from ineffective oversight, risk assessment and monitoring activities.</li>
<li>Spirit Airlines, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/save#NYSE">SAVE</a>) fell 12.1% to $5.68 after the company announced the termination of its merger agreement with JetBlue.</li>
<li>Sabre Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sabr#NASDAQ">SABR</a>) fell 11.6% to $2.3050. Sabre announced exchange of $150 million of existing 4.000% exchangeable senior notes due 2025 for exchangeable senior notes due 2026.</li>
<li>Li Auto Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/li#NASDAQ">LI</a>) fell 11.6% to $38.49. B of A Securities analyst Ming Hsun Lee maintained Li Auto with a Buy and raised the price target from $57 to $60.</li>
<li>Revance Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rvnc#NASDAQ">RVNC</a>) fell 11.2% to $6.20. Revance announced pricing of $100 million public offering of 16 million shares of common stock at a price of $6.25 per share.</li>
<li>Beyond Meat, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bynd#NASDAQ">BYND</a>) dipped 11.3% to $8.67 after the company announced that it was unable to file its annual report due to technical difficulties in assembling the submission for filing. Also, the company said it anticipates it will seek to raise additional capital in 2024.</li>
<li>Caledonia Mining Corporation Plc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cmcl#NASDAQ">CMCL</a>) shares tumbled 9.6% to $9.29 after the company issued a trading update for the year ended Dec. 31, 2023.</li>
<li>Hertz Global Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/htz#NYSE">HTZ</a>) fell 7.2% to $7.26.</li>
<li>NIO Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nio#NYSE">NIO</a>) fell 6.9% to $5.38.</li>
</ul>
&nbsp;
Now Read This: <a href="	https://www.benzinga.com/trading-ideas/long-ideas/24/03/37454953/charles-colvard-and-3-other-penny-stocks-insiders-are-buying"> Charles &amp; Colvard And 3 Other Penny Stocks Insiders Are Buying </a>

Penny Stocks

Small Cap

Intraday Update

Movers

AADI

AIMD

AKRO

APVO

ASTR

BBAI

BCDA

BIVI

BTDR

BYND

CMCL

COIN

CRDF

CRML

DWAC

ETNB

FUFU

HSDT

IFBD

JAGX

JOAN

LIFW

MINM

MSTR

NKTR

NYCB

OCEA

PHUN

PLTK

QNRX

RELI

RENB

RNLX

RVNC

SABR

SAVE

SBFM

SMCI

TRNR

VANI

ZJYL

Why Bitdeer Technologies Shares Are Trading Higher By 10%? Here Are Other Stocks Moving In Monday's Mid-Day Session

WIIM

MGE Energy shares are trading higher after it was announced the company will join the S&P SmallCap 600.

MGE Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGEE#NASDAQ">MGEE</a>) reported quarterly earnings of $0.55 per share. The company reported $164.65 million in sales this quarter. This is a 13.26 percent decrease over sales of $189.83 million the same period last year.

MGE Energy Q4 2023 GAAP EPS $0.55, Sales $164.65M Down From $189.83M YoY

Morgan Stanley analyst Stephen Byrd maintains MGE Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGEE#NASDAQ">MGEE</a>) with a Underweight and raises the price target from $61 to $62.

Morgan Stanley Maintains Underweight on MGE Energy, Raises Price Target to $62

Morgan Stanley analyst Stephen Byrd maintains MGE Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGEE#NASDAQ">MGEE</a>) with a Underweight and lowers the price target from $65 to $61.

Morgan Stanley Maintains Underweight on MGE Energy, Lowers Price Target to $61

Morgan Stanley analyst Stephen Byrd maintains MGE Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGEE#NASDAQ">MGEE</a>) with a Underweight and raises the price target from $63 to $65.

Morgan Stanley Maintains Underweight on MGE Energy, Raises Price Target to $65

Wednesday marks the last chance for investors to receive the next dividend payout from MGE Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGEE#NASDAQ">MGEE</a>). 
<h3>What's Happening</h3>
The company announced on Friday that it would pay shareholders a quarterly dividend of 42.75 cents per share. On Thursday, MGE Energy will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 42.75 cents lower than it would have opened on any other day.
In order to be eligible to receive a company's dividend, shareholders must own the stock prior to the ex-dividend date—in this case, Thursday. Shareholders who own MGEE as of the end of Wednesday's session are eligible to receive the 42.75 cents dividend payout for every share that they own. 
According to the company, this dividend will be paid out to shareholders on September 15, 2023. Investors will then be able to either reinvest those dividends back into the stock or use the payment in some other way. 
<a href="https://www.benzinga.com/quote/MGEE">Track real-time stock fluctuations for MGE Energy on Benzinga.</a>

MGE Energy's Ex-Dividend Date Is Thursday, Here's What You Need To Know

Morgan Stanley analyst Stephen Byrd maintains MGE Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGEE#NASDAQ">MGEE</a>) with a Underweight and lowers the price target from $67 to $63.

Morgan Stanley Maintains Underweight on MGE Energy, Lowers Price Target to $63

August 18, 2023&mdash;The board of directors of MGE Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGEE#NASDAQ">MGEE</a>), today increased the regular quarterly dividend rate approximately 5% to $0.4275 per share on the outstanding shares of the company&#39;s common stock. The dividend is payable Sept. 15, 2023, to shareholders of record Sept. 1, 2023. This raises the annualized dividend rate by 8 cents from $1.63 per share to $1.71 per share.
&quot;We continue to move forward in our clean energy transition to provide our customers safe, reliable and affordable clean energy. Today&#39;s action by our board demonstrates the continued strength and resilience of MGE Energy&#39;s long-term business strategy in building your community energy company for the future,&quot; said Chairman, President and CEO Jeff Keebler. &quot;For nearly half a century, our board has taken action to increase the dividend and to reinforce the importance of dividend growth to the overall shareholder value proposition by providing regular, predictable, sustainable dividends.&quot;
MGE Energy has increased its dividend annually for the past 48 years and has paid cash dividends for more than 110 years.

MGE Energy Increases Quarterly Dividend From $0.4075 To $0.4275/Share

Press Releases

MGE Energy Declares Regular Dividend

MGE Energy Issues June 2024 'Inside View'

MGE Energy Reports Second-Quarter 2024 Earnings

MGE Energy Increases Dividend for 49th Consecutive Year

MGE Energy Issues September 2024 'Inside View'

MGE Energy Reports Third-Quarter 2024 Earnings

MGE Energy Reports Fourth-Quarter and Full-Year 2024 Earnings

MGE Energy Reports First-Quarter 2025 Earnings

ALLETE

Comp En De Mn Cemig ADS American Depositary Shares

Cia Energetica DE Minas

Comp En De Mn Cemig ADS American Depositary Receipts

Empresa Distribuidora Y Comercializadora Norte S.A. (Edenor) American Depositary Shares

Empresa Distribuidora y

Companhia Paranaense de Energia (COPEL) American Depositary Shares (each representing one Unit consisting one Common Share and four non-voting Class B Preferred Shares)

Cia Paranaense De Energia

Companhia Paranaense de Energia (COPEL) American Depositary Shares (each representing four (4) Common Shares)

Enel Chile S.A. American Depositary Shares (Each representing 50 shares of Common Stock)

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