MGE Energy (NASDAQ:MGEE) Stock Crosses Above Two Hundred Day Moving Average – Time to Sell?

MGE Energy Inc. (NASDAQ:MGEE) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $78.79 and traded as high as $81.62. MGE Energy shares last traded at $81.03, with a volume of 147,280 shares changing hands.

Analyst Upgrades and Downgrades

MGEE has been the subject of a number of recent research reports. Morgan Stanley reiterated an “underweight” rating and set a $76.00 price objective on shares of MGE Energy in a research report on Wednesday, July 22nd. Weiss Ratings restated a “hold (c)” rating on shares of MGE Energy in a report on Wednesday, August 5th. Finally, LADENBURG THALM/SH SH raised MGE Energy from a “neutral” rating to a “buy” rating and set a $81.00 target price on the stock in a research report on Monday, June 8th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, MGE Energy currently has an average rating of “Hold” and a consensus price target of $78.50.

MGE Energy Stock Up 1.1%

The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.79 and a current ratio of 1.14. The stock has a market cap of $3.10 billion, a price-to-earnings ratio of 20.12 and a beta of 0.71. The business’s 50 day moving average is $80.35 and its 200 day moving average is $78.81.

MGE Energy (NASDAQ:MGEE) last announced its earnings results on Wednesday, August 5th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.12. The company had revenue of $161.19 million for the quarter, compared to the consensus estimate of $166.37 million. MGE Energy had a net margin of 19.45% and a return on equity of 11.10%. Equities analysts expect that MGE Energy Inc. will post 3.99 earnings per share for the current year.

Institutional Investors Weigh In On MGE Energy

Several hedge funds have recently bought and sold shares of MGEE. Speece Thorson Capital Group Inc. boosted its holdings in shares of MGE Energy by 44.3% during the fourth quarter. Speece Thorson Capital Group Inc. now owns 195,596 shares of the utilities provider’s stock worth $15,339,000 after purchasing an additional 60,037 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in MGE Energy by 369.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 40,409 shares of the utilities provider’s stock valued at $3,169,000 after purchasing an additional 31,795 shares in the last quarter. Sei Investments Co. increased its stake in MGE Energy by 193.5% in the 1st quarter. Sei Investments Co. now owns 32,857 shares of the utilities provider’s stock valued at $2,540,000 after buying an additional 21,663 shares during the period. Merit Financial Group LLC increased its stake in MGE Energy by 259.3% in the 4th quarter. Merit Financial Group LLC now owns 23,780 shares of the utilities provider’s stock valued at $1,865,000 after buying an additional 17,161 shares during the period. Finally, Renaissance Technologies LLC increased its stake in MGE Energy by 46.0% in the 1st quarter. Renaissance Technologies LLC now owns 67,600 shares of the utilities provider’s stock valued at $5,225,000 after buying an additional 21,300 shares during the period. 52.58% of the stock is owned by hedge funds and other institutional investors.

About MGE Energy

MGE Energy, Inc is a public utility holding company headquartered in Madison, Wisconsin. Through its principal subsidiary, Madison Gas and Electric Company (MGE), the company provides regulated electric and natural gas distribution services to residential, commercial and industrial customers in south-central Wisconsin. MGE Energy’s operations encompass the generation, transmission and distribution of electricity as well as the purchase and distribution of natural gas, with an emphasis on reliable service and system resilience.

Since reorganizing as a holding company in 2001, MGE Energy has expanded its portfolio to include nonregulated subsidiaries involved in renewable energy development, energy services and infrastructure support.