BidaskClub downgraded shares of MGE Energy (NASDAQ:MGEE) from a hold rating to a sell rating in a research report report published on Saturday, BidAskClub reports.

Separately, ValuEngine downgraded MGE Energy from a buy rating to a hold rating in a report on Wednesday, October 2nd.

Shares of NASDAQ MGEE opened at $77.35 on Friday. MGE Energy has a 12 month low of $56.74 and a 12 month high of $80.84. The company has a market cap of $2.66 billion, a price-to-earnings ratio of 30.83 and a beta of 0.33. The company has a quick ratio of 1.03, a current ratio of 1.34 and a debt-to-equity ratio of 0.60. The business has a fifty day simple moving average of $77.99 and a 200-day simple moving average of $75.99.

MGE Energy (NASDAQ:MGEE) last announced its earnings results on Wednesday, November 6th. The utilities provider reported $0.88 EPS for the quarter. MGE Energy had a return on equity of 10.40% and a net margin of 15.24%. The business had revenue of $138.20 million during the quarter.

Several hedge funds and other institutional investors have recently made changes to their positions in MGEE. Ellevest Inc. purchased a new stake in shares of MGE Energy during the second quarter valued at $55,000. Blue Chip Partners Inc. acquired a new position in MGE Energy during the third quarter valued at $120,000. Tower View Investment Management & Research LLC raised its position in MGE Energy by 18.6% during the third quarter. Tower View Investment Management & Research LLC now owns 1,635 shares of the utilities provider’s stock valued at $131,000 after buying an additional 256 shares during the period. Meeder Asset Management Inc. acquired a new position in MGE Energy during the third quarter valued at $136,000. Finally, HM Payson & Co. acquired a new position in MGE Energy during the second quarter valued at $173,000. 45.38% of the stock is owned by institutional investors and hedge funds.

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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