MGE Energy (NASDAQ:MGEE) Upgraded at Wall Street Zen

MGE Energy (NASDAQ:MGEE) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Sunday.

Several other research analysts have also commented on the stock. Morgan Stanley cut their price target on shares of MGE Energy from $74.00 to $73.00 and set an “underweight” rating on the stock in a report on Monday, February 2nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of MGE Energy in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, MGE Energy presently has a consensus rating of “Reduce” and an average target price of $78.00.

MGE Energy Price Performance

MGEE stock opened at $79.85 on Friday. The company has a market cap of $2.92 billion, a PE ratio of 21.47 and a beta of 0.81. The company has a current ratio of 0.77, a quick ratio of 0.55 and a debt-to-equity ratio of 0.61. The stock has a 50-day moving average price of $79.90 and a two-hundred day moving average price of $81.97. MGE Energy has a 12-month low of $76.47 and a 12-month high of $94.79.

MGE Energy (NASDAQ:MGEE) last released its quarterly earnings data on Tuesday, February 24th. The utilities provider reported $0.64 EPS for the quarter, hitting analysts’ consensus estimates of $0.64. MGE Energy had a return on equity of 10.60% and a net margin of 18.27%.The company had revenue of $189.55 million for the quarter. As a group, research analysts predict that MGE Energy will post 3.43 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MGEE. AQR Capital Management LLC boosted its stake in shares of MGE Energy by 18.8% in the first quarter. AQR Capital Management LLC now owns 8,275 shares of the utilities provider’s stock valued at $769,000 after purchasing an additional 1,312 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in MGE Energy by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,707 shares of the utilities provider’s stock worth $2,018,000 after buying an additional 954 shares in the last quarter. United Services Automobile Association acquired a new position in MGE Energy in the 1st quarter worth $220,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in MGE Energy by 18.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 86,608 shares of the utilities provider’s stock valued at $8,051,000 after buying an additional 13,715 shares during the last quarter. Finally, Jane Street Group LLC boosted its position in MGE Energy by 718.5% in the 1st quarter. Jane Street Group LLC now owns 75,007 shares of the utilities provider’s stock valued at $6,973,000 after buying an additional 65,843 shares during the last quarter. 52.58% of the stock is owned by institutional investors and hedge funds.

About MGE Energy

MGE Energy, Inc is a public utility holding company headquartered in Madison, Wisconsin. Through its principal subsidiary, Madison Gas and Electric Company (MGE), the company provides regulated electric and natural gas distribution services to residential, commercial and industrial customers in south-central Wisconsin. MGE Energy’s operations encompass the generation, transmission and distribution of electricity as well as the purchase and distribution of natural gas, with an emphasis on reliable service and system resilience.

Since reorganizing as a holding company in 2001, MGE Energy has expanded its portfolio to include nonregulated subsidiaries involved in renewable energy development, energy services and infrastructure support.