MGE Energy (NASDAQ:MGEE) Downgraded by BidaskClub to “Hold”

MGE Energy (NASDAQ:MGEE) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Wednesday, January 16th.

Shares of MGEE opened at $64.74 on Wednesday. The company has a current ratio of 2.85, a quick ratio of 2.39 and a debt-to-equity ratio of 0.61. MGE Energy has a 12 month low of $51.05 and a 12 month high of $68.95. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of 26.86 and a beta of 0.39.

Large investors have recently modified their holdings of the company. Quantamental Technologies LLC acquired a new stake in shares of MGE Energy in the fourth quarter worth approximately $54,000. Strs Ohio acquired a new stake in shares of MGE Energy in the fourth quarter worth approximately $125,000. FMR LLC acquired a new stake in shares of MGE Energy in the third quarter worth approximately $175,000. Virtu Financial LLC acquired a new stake in shares of MGE Energy in the fourth quarter worth approximately $238,000. Finally, Baird Financial Group Inc. acquired a new stake in shares of MGE Energy in the second quarter worth approximately $255,000. 41.04% of the stock is currently owned by hedge funds and other institutional investors.

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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