MGE Energy (NASDAQ:MGEE) Sees Large Volume Increase

Shares of MGE Energy, Inc. (NASDAQ:MGEE – Get Rating) saw unusually-strong trading volume on Friday . Approximately 2,393 shares traded hands during trading, a decline of 96% from the previous session’s volume of 63,825 shares.The stock last traded at $69.61 and had previously closed at $70.55.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on MGEE shares. Morgan Stanley raised their target price on shares of MGE Energy from $63.00 to $66.00 and gave the stock an “underweight” rating in a research note on Thursday, December 15th. StockNews.com assumed coverage on shares of MGE Energy in a research note on Wednesday, October 12th. They set a “hold” rating on the stock.

MGE Energy Stock Performance

The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.64 and a current ratio of 1.03. The business’s fifty day simple moving average is $71.04 and its 200-day simple moving average is $73.27. The firm has a market capitalization of $2.56 billion, a PE ratio of 24.90, a price-to-earnings-growth ratio of 4.95 and a beta of 0.69.

MGE Energy (NASDAQ:MGEE – Get Rating) last announced its quarterly earnings data on Thursday, November 3rd. The utilities provider reported $0.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.08). MGE Energy had a net margin of 14.99% and a return on equity of 9.79%. The company had revenue of $163.40 million for the quarter, compared to analysts’ expectations of $159.26 million. As a group, equities research analysts expect that MGE Energy, Inc. will post 3.17 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MGEE. Total Clarity Wealth Management Inc. purchased a new position in shares of MGE Energy in the second quarter valued at $35,000. Legacy CG LLC purchased a new position in shares of MGE Energy in the second quarter valued at $58,000. Romano Brothers AND Company purchased a new position in shares of MGE Energy in the fourth quarter valued at $58,000. Captrust Financial Advisors grew its holdings in shares of MGE Energy by 14.7% in the second quarter. Captrust Financial Advisors now owns 913 shares of the utilities provider’s stock valued at $71,000 after purchasing an additional 117 shares in the last quarter. Finally, EverSource Wealth Advisors LLC purchased a new position in shares of MGE Energy in the second quarter valued at $77,000. 50.74% of the stock is owned by hedge funds and other institutional investors.

About MGE Energy

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MGE Energy, Inc, through its subsidiaries, operates as a public utility holding company primarily in Wisconsin. It operates through Regulated Electric Utility Operations; Regulated Gas Utility Operations; Nonregulated Energy Operations; Transmission Investments; and All Other. The company generates, purchases, and distributes electricity; owns or leases electric generation facilities located in Wisconsin and Iowa; and plans, constructs, operates, maintains, and expands transmission facilities to provide transmission services.