MGE Energy (NASDAQ:MGEE) Rating Lowered to Sell at BidaskClub

BidaskClub cut shares of MGE Energy (NASDAQ:MGEE) from a hold rating to a sell rating in a report issued on Saturday morning, BidAskClub reports.

Separately, ValuEngine downgraded MGE Energy from a buy rating to a hold rating in a report on Wednesday, October 2nd.

Shares of NASDAQ MGEE opened at $77.35 on Friday. MGE Energy has a twelve month low of $56.74 and a twelve month high of $80.84. The company has a current ratio of 1.34, a quick ratio of 1.03 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $2.66 billion, a price-to-earnings ratio of 30.83 and a beta of 0.33. The business has a 50 day simple moving average of $77.99 and a 200-day simple moving average of $75.99.

MGE Energy (NASDAQ:MGEE) last issued its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.88 earnings per share for the quarter. MGE Energy had a return on equity of 10.40% and a net margin of 15.24%. The business had revenue of $138.20 million during the quarter.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Tower View Investment Management & Research LLC grew its stake in MGE Energy by 10.5% during the 4th quarter. Tower View Investment Management & Research LLC now owns 1,807 shares of the utilities provider’s stock worth $142,000 after buying an additional 172 shares during the last quarter. Arabesque Asset Management Ltd grew its stake in MGE Energy by 0.9% during the 3rd quarter. Arabesque Asset Management Ltd now owns 21,962 shares of the utilities provider’s stock worth $1,754,000 after buying an additional 198 shares during the last quarter. Rhumbline Advisers grew its stake in MGE Energy by 0.3% during the 3rd quarter. Rhumbline Advisers now owns 70,585 shares of the utilities provider’s stock worth $5,638,000 after buying an additional 201 shares during the last quarter. Commonwealth Equity Services LLC grew its stake in MGE Energy by 1.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 13,134 shares of the utilities provider’s stock worth $1,049,000 after buying an additional 210 shares during the last quarter. Finally, UBS Asset Management Americas Inc. grew its stake in MGE Energy by 0.7% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 36,991 shares of the utilities provider’s stock worth $2,703,000 after buying an additional 275 shares during the last quarter. Hedge funds and other institutional investors own 45.38% of the company’s stock.

MGE Energy Company Profile

MGE Energy, Inc, through its subsidiaries, operates as a public utility holding company primarily in Wisconsin. It operates through five segments: Regulated Electric Utility Operations; Regulated Gas Utility Operations; Nonregulated Energy Operations; Transmission Investments; and All Other. The company generates, purchases, and distributes electricity; owns or leases electric generation facilities located in Wisconsin and Iowa; and plans, constructs, operates, maintains, and expands transmission facilities to provide transmission services.

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