Zacks Investment Research cut shares of MGE Energy Inc. (NASDAQ:MGEE) from a hold rating to a sell rating in a report issued on Friday, July 14th.
According to Zacks, “MGE Energy is a public utility holding company. Its principal subsidiary, MGE, generates and distributes electricity to more than 128,000 customers in Dane County, Wisconsin (250 square miles) and purchases, transports and distributes natural gas to nearly 123,000 customers in seven south-central and western Wisconsin counties (1,375 square miles). (Press Release) “
Separately, BidaskClub cut shares of MGE Energy from a buy rating to a hold rating in a research report on Saturday, June 24th.
Shares of MGE Energy (NASDAQ MGEE) traded down 0.45% on Friday, hitting $66.50. 41,740 shares of the stock traded hands. MGE Energy has a 52-week low of $53.48 and a 52-week high of $68.70. The stock’s 50 day moving average price is $65.32 and its 200 day moving average price is $64.23. The stock has a market cap of $2.31 billion, a P/E ratio of 29.62 and a beta of 0.35.
MGE Energy (NASDAQ:MGEE) last posted its earnings results on Friday, May 5th. The utilities provider reported $0.56 earnings per share (EPS) for the quarter. The firm had revenue of $156.82 million during the quarter. MGE Energy had a net margin of 14.05% and a return on equity of 10.81%. On average, equities analysts expect that MGE Energy will post $2.30 EPS for the current fiscal year.
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Hedge funds have recently added to or reduced their stakes in the company. Bessemer Group Inc. raised its stake in MGE Energy by 0.8% in the second quarter. Bessemer Group Inc. now owns 39,519 shares of the utilities provider’s stock worth $2,544,000 after buying an additional 319 shares during the last quarter. Strs Ohio increased its stake in shares of MGE Energy by 6.3% in the second quarter. Strs Ohio now owns 3,400 shares of the utilities provider’s stock valued at $218,000 after buying an additional 200 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in shares of MGE Energy by 146.3% in the second quarter. Russell Investments Group Ltd. now owns 8,102 shares of the utilities provider’s stock valued at $522,000 after buying an additional 4,812 shares in the last quarter. Hedge funds and other institutional investors own 37.89% of the company’s stock.
About MGE Energy
MGE Energy, Inc (MGE) is a public utility holding company. The Company operates through five segments: Regulated electric utility operations; Regulated gas utility operations; Nonregulated energy operations; Transmission investments, and All other. The Regulated electric utility operations segment is engaged in generating, purchasing and distributing electricity through Madison Gas and Electric Company (MGE).
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