MGE Energy (NASDAQ:MGEE) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.
Separately, ValuEngine upgraded MGE Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, June 26th.
Shares of MGE Energy stock opened at $62.55 on Thursday. MGE Energy has a 12-month low of $51.05 and a 12-month high of $68.10. The firm has a market cap of $2.19 billion, a P/E ratio of 27.06 and a beta of 0.19. The company has a quick ratio of 1.69, a current ratio of 2.05 and a debt-to-equity ratio of 0.52.
Large investors have recently made changes to their positions in the business. Schwab Charles Investment Management Inc. grew its stake in MGE Energy by 6.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 248,573 shares of the utilities provider’s stock valued at $15,673,000 after purchasing an additional 16,055 shares during the period. Wells Fargo & Company MN grew its stake in MGE Energy by 7.6% in the 1st quarter. Wells Fargo & Company MN now owns 178,966 shares of the utilities provider’s stock valued at $10,040,000 after purchasing an additional 12,579 shares during the period. GSA Capital Partners LLP grew its stake in MGE Energy by 252.0% in the 2nd quarter. GSA Capital Partners LLP now owns 26,915 shares of the utilities provider’s stock valued at $1,697,000 after purchasing an additional 19,268 shares during the period. Dimensional Fund Advisors LP grew its stake in MGE Energy by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 902,538 shares of the utilities provider’s stock valued at $50,632,000 after purchasing an additional 6,746 shares during the period. Finally, Citadel Advisors LLC bought a new position in MGE Energy in the 2nd quarter valued at $1,616,000. Hedge funds and other institutional investors own 40.11% of the company’s stock.
About MGE Energy
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.
Read More: Penny Stocks
Receive News & Ratings for MGE Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MGE Energy and related companies with MarketBeat.com's FREE daily email newsletter.