Wall Street Zen Downgrades MGE Energy (NASDAQ:MGEE) to Sell

MGE Energy (NASDAQ:MGEE) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

Several other brokerages also recently weighed in on MGEE. Morgan Stanley dropped their target price on shares of MGE Energy from $74.00 to $73.00 and set an “underweight” rating for the company in a report on Monday, February 2nd. Weiss Ratings restated a “hold (c+)” rating on shares of MGE Energy in a research report on Monday, December 29th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $78.00.

MGE Energy Trading Down 0.4%

MGE Energy stock opened at $82.02 on Friday. The firm has a 50 day moving average of $79.67 and a 200 day moving average of $82.08. The firm has a market capitalization of $3.00 billion, a price-to-earnings ratio of 22.05 and a beta of 0.81. MGE Energy has a 12-month low of $76.47 and a 12-month high of $94.79. The company has a current ratio of 0.77, a quick ratio of 0.55 and a debt-to-equity ratio of 0.61.

MGE Energy (NASDAQ:MGEE) last issued its quarterly earnings results on Tuesday, February 24th. The utilities provider reported $0.64 earnings per share for the quarter, meeting the consensus estimate of $0.64. The business had revenue of $189.55 million for the quarter. MGE Energy had a net margin of 18.27% and a return on equity of 10.60%. As a group, research analysts predict that MGE Energy will post 3.43 earnings per share for the current year.

Institutional Trading of MGE Energy

A number of large investors have recently added to or reduced their stakes in MGEE. Hantz Financial Services Inc. raised its holdings in shares of MGE Energy by 63.8% during the 4th quarter. Hantz Financial Services Inc. now owns 416 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 162 shares in the last quarter. Advisory Services Network LLC bought a new stake in MGE Energy in the third quarter worth $40,000. Steward Partners Investment Advisory LLC raised its stake in MGE Energy by 107.3% during the second quarter. Steward Partners Investment Advisory LLC now owns 485 shares of the utilities provider’s stock valued at $43,000 after purchasing an additional 251 shares in the last quarter. eCIO Inc. bought a new position in MGE Energy during the fourth quarter valued at $45,000. Finally, Parallel Advisors LLC grew its stake in shares of MGE Energy by 28.6% in the 3rd quarter. Parallel Advisors LLC now owns 714 shares of the utilities provider’s stock worth $60,000 after buying an additional 159 shares in the last quarter. Institutional investors own 52.58% of the company’s stock.

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.