MGE Energy (NASDAQ:MGEE) Downgraded to “Sell” Rating by Wall Street Zen

MGE Energy (NASDAQ:MGEE) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

A number of other equities research analysts also recently issued reports on MGEE. Morgan Stanley lowered 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’s stock. According to MarketBeat.com, MGE Energy currently has a consensus rating of “Reduce” and a consensus target price of $78.00.

MGE Energy Price Performance

MGE Energy stock opened at $82.02 on Friday. The firm has a market capitalization of $3.00 billion, a P/E ratio of 22.05 and a beta of 0.82. MGE Energy has a one year low of $76.47 and a one year high of $94.79. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.77 and a quick ratio of 0.59. The business has a fifty day moving average price of $79.67 and a 200-day moving average price of $82.13.

MGE Energy (NASDAQ:MGEE) last issued its quarterly earnings data on Tuesday, February 24th. The utilities provider reported $0.64 earnings per share (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 business had revenue of $189.55 million for the quarter. As a group, equities research analysts forecast that MGE Energy will post 3.43 EPS for the current year.

Institutional Trading of MGE Energy

A number of hedge funds have recently made changes to their positions in the stock. GuidedMoney LLC bought a new stake in MGE Energy in the fourth quarter worth $285,000. Corient Private Wealth LLC lifted its stake in shares of MGE Energy by 106.3% in the 4th quarter. Corient Private Wealth LLC now owns 6,768 shares of the utilities provider’s stock valued at $531,000 after acquiring an additional 3,487 shares during the last quarter. Beacon Pointe Advisors LLC boosted its holdings in MGE Energy by 6.6% during the 4th quarter. Beacon Pointe Advisors LLC now owns 2,826 shares of the utilities provider’s stock valued at $222,000 after acquiring an additional 174 shares during the period. State of Tennessee Department of Treasury grew its position in MGE Energy by 6.1% during the 4th quarter. State of Tennessee Department of Treasury now owns 16,009 shares of the utilities provider’s stock worth $1,279,000 after acquiring an additional 925 shares during the last quarter. Finally, Susquehanna Portfolio Strategies LLC grew its position in MGE Energy by 29.6% during the 4th quarter. Susquehanna Portfolio Strategies LLC now owns 9,047 shares of the utilities provider’s stock worth $709,000 after acquiring an additional 2,066 shares during the last quarter. 52.58% of the stock is owned by institutional investors.

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.