MGE Energy (MGEE) Cut to Sell at BidaskClub

MGE Energy (NASDAQ:MGEE) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

NASDAQ:MGEE opened at $56.60 on Thursday. MGE Energy has a fifty-two week low of $56.50 and a fifty-two week high of $56.60. The stock has a market capitalization of $1.97 billion, a PE ratio of 25.38 and a beta of 0.30. The company has a current ratio of 2.34, a quick ratio of 2.00 and a debt-to-equity ratio of 0.50.

MGE Energy (NASDAQ:MGEE) last released its quarterly earnings results on Friday, February 23rd. The utilities provider reported $0.45 earnings per share for the quarter. MGE Energy had a net margin of 17.43% and a return on equity of 10.19%. The business had revenue of $140.27 million for the quarter.

In related news, Director James G. Berbee bought 449 shares of the stock in a transaction that occurred on Tuesday, March 13th. The stock was bought at an average cost of $55.73 per share, for a total transaction of $25,022.77. Following the purchase, the director now directly owns 449 shares of the company’s stock, valued at $25,022.77. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeffrey M. Keebler bought 627 shares of the stock in a transaction that occurred on Tuesday, March 13th. The stock was bought at an average price of $55.73 per share, with a total value of $34,942.71. The disclosure for this purchase can be found here. Insiders bought a total of 1,435 shares of company stock worth $79,921 over the last 90 days. Company insiders own 0.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in MGEE. Victory Capital Management Inc. lifted its stake in MGE Energy by 14.9% during the 4th quarter. Victory Capital Management Inc. now owns 612,023 shares of the utilities provider’s stock valued at $38,619,000 after acquiring an additional 79,450 shares during the period. First Trust Advisors LP increased its holdings in shares of MGE Energy by 16.8% during the 4th quarter. First Trust Advisors LP now owns 367,739 shares of the utilities provider’s stock valued at $23,204,000 after purchasing an additional 52,962 shares in the last quarter. Deutsche Bank AG increased its holdings in shares of MGE Energy by 108.4% during the 4th quarter. Deutsche Bank AG now owns 91,508 shares of the utilities provider’s stock valued at $5,772,000 after purchasing an additional 47,589 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of MGE Energy by 25.4% during the 4th quarter. Wells Fargo & Company MN now owns 166,387 shares of the utilities provider’s stock valued at $10,499,000 after purchasing an additional 33,725 shares in the last quarter. Finally, BlackRock Inc. increased its holdings in shares of MGE Energy by 1.4% during the 4th quarter. BlackRock Inc. now owns 2,267,361 shares of the utilities provider’s stock valued at $143,071,000 after purchasing an additional 30,521 shares in the last quarter. Institutional investors and hedge funds own 39.14% 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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