MGE Energy Inc. (NASDAQ:MGEE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday.

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 lowered shares of MGE Energy from a “buy” rating to a “hold” rating in a report on Saturday, June 24th.

MGE Energy (MGEE) traded up 0.55% during mid-day trading on Thursday, hitting $64.45. 39,543 shares of the stock traded hands. MGE Energy has a 12 month low of $53.48 and a 12 month high of $68.70. The stock’s 50 day moving average is $64.98 and its 200-day moving average is $64.62. The company has a market cap of $2.23 billion, a price-to-earnings ratio of 28.90 and a beta of 0.36.

MGE Energy (NASDAQ:MGEE) last released its earnings results on Friday, August 4th. The utilities provider reported $0.45 EPS for the quarter. The firm had revenue of $126.46 million during the quarter. MGE Energy had a net margin of 13.82% and a return on equity of 10.60%. On average, equities research analysts anticipate that MGE Energy will post $2.30 EPS for the current year.

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In other news, insider Jeffrey M. Keebler purchased 547 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The shares were acquired at an average cost of $64.02 per share, for a total transaction of $35,018.94. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in MGE Energy by 10.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,568 shares of the utilities provider’s stock worth $101,000 after purchasing an additional 154 shares in the last quarter. Strs Ohio increased its stake in MGE Energy by 6.3% during the 2nd quarter. Strs Ohio now owns 3,400 shares of the utilities provider’s stock worth $218,000 after purchasing an additional 200 shares in the last quarter. Amalgamated Bank increased its stake in MGE Energy by 2.9% during the 2nd quarter. Amalgamated Bank now owns 4,472 shares of the utilities provider’s stock worth $288,000 after purchasing an additional 126 shares in the last quarter. Ramsey Quantitative Systems bought a new stake in MGE Energy during the 2nd quarter worth approximately $303,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in MGE Energy during the 2nd quarter worth approximately $343,000. Institutional investors and hedge funds own 37.47% 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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