MGE Energy (NASDAQ:MGEE) Cut to Sell at StockNews.com

MGE Energy (NASDAQ:MGEEGet Free Report) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

Separately, TheStreet cut shares of MGE Energy from a “b” rating to a “c+” rating in a report on Tuesday, January 30th.

Read Our Latest Analysis on MGEE

MGE Energy Stock Performance

MGEE stock opened at $79.35 on Wednesday. The stock’s 50 day simple moving average is $70.29 and its 200 day simple moving average is $71.45. MGE Energy has a 12-month low of $61.94 and a 12-month high of $83.27. The firm has a market cap of $2.87 billion, a P/E ratio of 24.42 and a beta of 0.72. The company has a current ratio of 1.52, a quick ratio of 1.05 and a debt-to-equity ratio of 0.65.

MGE Energy (NASDAQ:MGEEGet Free Report) last released its earnings results on Wednesday, February 21st. The utilities provider reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.06). MGE Energy had a net margin of 17.05% and a return on equity of 10.49%. The business had revenue of $164.65 million for the quarter, compared to the consensus estimate of $190.55 million. As a group, equities research analysts predict that MGE Energy will post 3.68 EPS for the current year.

Insiders Place Their Bets

In other MGE Energy news, Director James G. Berbee purchased 458 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were bought at an average price of $82.16 per share, with a total value of $37,629.28. Following the completion of the acquisition, the director now owns 9,725 shares in the company, valued at approximately $799,006. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.23% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in MGE Energy by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 4,003,804 shares of the utilities provider’s stock valued at $262,770,000 after buying an additional 27,071 shares in the last quarter. BlackRock Inc. increased its stake in shares of MGE Energy by 1.0% during the second quarter. BlackRock Inc. now owns 2,816,120 shares of the utilities provider’s stock valued at $222,783,000 after acquiring an additional 27,156 shares during the period. T. Rowe Price Investment Management Inc. increased its stake in shares of MGE Energy by 9.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,663,504 shares of the utilities provider’s stock valued at $187,511,000 after acquiring an additional 222,061 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in MGE Energy by 9.0% during the second quarter. Price T Rowe Associates Inc. MD now owns 2,314,802 shares of the utilities provider’s stock worth $180,161,000 after purchasing an additional 191,995 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in MGE Energy by 5.1% during the 4th quarter. Victory Capital Management Inc. now owns 1,229,511 shares of the utilities provider’s stock valued at $88,906,000 after purchasing an additional 60,190 shares in the last quarter. 52.58% of the stock is owned by institutional investors and hedge funds.

About MGE Energy

(Get Free Report)

MGE Energy, Inc, through its subsidiaries, operates as a public utility holding company primarily in the United States. 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; owns and leases electric generating capacity; and plans, constructs, operates, maintains, and expands transmission facilities to provide transmission power services.

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