MGE Energy (NASDAQ:MGEE) Stock Rating Lowered by StockNews.com

MGE Energy (NASDAQ:MGEE) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a report issued on Friday.

Separately, Morgan Stanley dropped their price objective on shares of MGE Energy from $65.00 to $61.00 and set an “underweight” rating for the company in a research note on Wednesday, October 25th.

MGE Energy Stock Up 0.1 %

MGEE stock opened at $74.39 on Friday. The stock has a market capitalization of $2.69 billion, a P/E ratio of 22.68, a P/E/G ratio of 4.07 and a beta of 0.76. The firm has a 50-day simple moving average of $71.77 and a 200-day simple moving average of $75.29. The company has a quick ratio of 0.95, a current ratio of 1.40 and a debt-to-equity ratio of 0.60. MGE Energy has a 52 week low of $65.10 and a 52 week high of $83.27.

MGE Energy (NASDAQ:MGEE) last released its earnings results on Thursday, August 3rd. The utilities provider reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.07. The business had revenue of $148.00 million during the quarter, compared to analysts’ expectations of $157.06 million. MGE Energy had a net margin of 15.94% and a return on equity of 10.49%. Equities analysts forecast that MGE Energy will post 3.41 earnings per share for the current fiscal year.

Insider Activity

In other MGE Energy news, Director James G. Berbee acquired 434 shares of the stock in a transaction that occurred on Friday, August 25th. The stock was bought at an average cost of $74.84 per share, for a total transaction of $32,480.56. Following the completion of the transaction, the director now owns 8,291 shares of the company’s stock, valued at approximately $620,498.44. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.23% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. grew its position in MGE Energy by 12.6% in the third quarter. Principal Financial Group Inc. now owns 4,614 shares of the utilities provider’s stock worth $316,000 after acquiring an additional 517 shares during the period. Beck Bode LLC purchased a new position in MGE Energy in the third quarter worth approximately $650,000. Allspring Global Investments Holdings LLC boosted its position in shares of MGE Energy by 2,966.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 21,955 shares of the utilities provider’s stock worth $1,504,000 after buying an additional 21,239 shares during the period. TD Asset Management Inc boosted its position in shares of MGE Energy by 4.4% during the third quarter. TD Asset Management Inc now owns 18,808 shares of the utilities provider’s stock worth $1,289,000 after buying an additional 800 shares during the period. Finally, Inspire Investing LLC boosted its position in shares of MGE Energy by 13.0% during the third quarter. Inspire Investing LLC now owns 4,490 shares of the utilities provider’s stock worth $308,000 after buying an additional 518 shares during the period. 54.08% of the stock is currently owned by hedge funds and other institutional investors.

About MGE Energy

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 segments. The company generates, purchases, and distributes electricity and natural gas in Wisconsin and Iowa; and plans, constructs, operates, maintains, and expands transmission facilities to provide transmission services.