MGE Energy (NASDAQ:MGEE) Stock Rating Upgraded by Wall Street Zen

MGE Energy (NASDAQ:MGEE) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Friday.

Several other equities analysts have also issued reports on MGEE. Morgan Stanley cut their price objective on shares of MGE Energy from $75.00 to $74.00 and set an “underweight” rating on the stock in a report on Thursday, May 22nd. LADENBURG THALM/SH SH raised shares of MGE Energy to a “strong sell” rating in a report on Friday, May 9th.

MGE Energy Stock Performance

Shares of NASDAQ:MGEE opened at $85.89 on Friday. The firm has a market cap of $3.14 billion, a PE ratio of 24.26 and a beta of 0.76. The firm’s 50 day simple moving average is $89.11 and its 200-day simple moving average is $90.22. MGE Energy has a one year low of $82.76 and a one year high of $109.22. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.49 and a current ratio of 2.07.

MGE Energy (NASDAQ:MGEE) last issued its earnings results on Wednesday, May 7th. The utilities provider reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.16. The business had revenue of $218.97 million for the quarter, compared to analyst estimates of $202.42 million. MGE Energy had a net margin of 18.22% and a return on equity of 10.58%. As a group, equities analysts predict that MGE Energy will post 3.43 EPS for the current year.

Hedge Funds Weigh In On MGE Energy

Several institutional investors have recently bought and sold shares of MGEE. GAMMA Investing LLC increased its holdings in MGE Energy by 9,697.0% during the first quarter. GAMMA Investing LLC now owns 456,248 shares of the utilities provider’s stock valued at $42,413,000 after buying an additional 451,591 shares during the period. Nuveen LLC purchased a new position in MGE Energy in the first quarter worth $20,910,000. JPMorgan Chase & Co. grew its holdings in MGE Energy by 145.0% in the fourth quarter. JPMorgan Chase & Co. now owns 146,008 shares of the utilities provider’s stock worth $13,719,000 after purchasing an additional 86,423 shares during the last quarter. Invesco Ltd. grew its holdings in MGE Energy by 49.4% in the first quarter. Invesco Ltd. now owns 208,936 shares of the utilities provider’s stock worth $19,423,000 after purchasing an additional 69,084 shares during the last quarter. Finally, Jane Street Group LLC grew its holdings in MGE Energy by 718.5% in the first quarter. Jane Street Group LLC now owns 75,007 shares of the utilities provider’s stock worth $6,973,000 after purchasing an additional 65,843 shares during the last quarter. 52.58% of the stock is 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 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.