MGE Energy (NASDAQ:MGEE) Upgraded at BidaskClub

BidaskClub upgraded shares of MGE Energy (NASDAQ:MGEE) from a sell rating to a hold rating in a research note released on Tuesday morning, BidAskClub reports.

Shares of MGE Energy stock traded down $0.46 during trading hours on Tuesday, reaching $74.36. The company’s stock had a trading volume of 2,433 shares, compared to its average volume of 148,486. The business’s 50 day moving average price is $72.70. The company has a current ratio of 1.97, a quick ratio of 1.68 and a debt-to-equity ratio of 0.62. MGE Energy has a one year low of $56.64 and a one year high of $76.44. The stock has a market capitalization of $2.59 billion, a PE ratio of 29.46 and a beta of 0.44.

MGE Energy (NASDAQ:MGEE) last released its quarterly earnings data on Wednesday, May 8th. The utilities provider reported $0.69 earnings per share for the quarter. MGE Energy had a net margin of 15.49% and a return on equity of 10.85%. The business had revenue of $167.57 million for the quarter.

A number of institutional investors have recently added to or reduced their stakes in the business. Raymond James & Associates grew its position in MGE Energy by 9.7% during the 4th quarter. Raymond James & Associates now owns 7,651 shares of the utilities provider’s stock worth $459,000 after purchasing an additional 675 shares during the period. Geode Capital Management LLC boosted its stake in shares of MGE Energy by 23.1% during the 4th quarter. Geode Capital Management LLC now owns 407,619 shares of the utilities provider’s stock worth $24,440,000 after acquiring an additional 76,370 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of MGE Energy by 13.2% during the 4th quarter. Bank of America Corp DE now owns 92,392 shares of the utilities provider’s stock worth $5,540,000 after acquiring an additional 10,751 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its stake in shares of MGE Energy by 6.1% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 26,344 shares of the utilities provider’s stock worth $1,580,000 after acquiring an additional 1,520 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its stake in shares of MGE Energy by 371.9% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 11,515 shares of the utilities provider’s stock worth $690,000 after acquiring an additional 9,075 shares in the last quarter. 42.86% 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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