MGE Energy Inc. (NASDAQ:MGEE) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Thursday.

Separately, Zacks Investment Research upgraded shares of MGE Energy from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 16th.

MGE Energy (MGEE) opened at 64.20 on Thursday. The stock has a 50 day moving average price of $64.73 and a 200-day moving average price of $64.51. MGE Energy has a 1-year low of $53.48 and a 1-year high of $68.70. The firm has a market cap of $2.23 billion, a P/E ratio of 28.82 and a beta of 0.35.

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

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in MGEE. Zurcher Kantonalbank Zurich Cantonalbank increased its position in MGE Energy by 10.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,568 shares of the utilities provider’s stock worth $101,000 after buying an additional 154 shares in the last quarter. Strs Ohio increased its position in MGE Energy by 6.3% in the second quarter. Strs Ohio now owns 3,400 shares of the utilities provider’s stock valued at $218,000 after buying an additional 200 shares during the period. Amalgamated Bank increased its position in MGE Energy by 2.9% in the second quarter. Amalgamated Bank now owns 4,472 shares of the utilities provider’s stock valued at $288,000 after buying an additional 126 shares during the period. Ramsey Quantitative Systems acquired a new position in MGE Energy during the second quarter valued at approximately $303,000. Finally, BNP Paribas Arbitrage SA increased its position in MGE Energy by 620.9% in the second quarter. BNP Paribas Arbitrage SA now owns 6,128 shares of the utilities provider’s stock valued at $394,000 after buying an additional 5,278 shares during the period. 37.04% of the stock is owned by hedge funds and other institutional investors.

MGE Energy Company Profile

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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