MGE Energy Inc. (NASDAQ:MGEE) has received an average broker rating score of 3.00 (Hold) from the one analysts that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating.

Zacks has also given MGE Energy an industry rank of 115 out of 265 based on the ratings given to its competitors.

MGEE has been the subject of a number of analyst reports. Zacks Investment Research raised shares of MGE Energy from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 16th. BidaskClub cut shares of MGE Energy from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th.

Hedge funds have recently made changes to their positions in the company. Wells Fargo & Company MN boosted its stake in shares of MGE Energy by 15.4% in the second quarter. Wells Fargo & Company MN now owns 72,807 shares of the utilities provider’s stock worth $4,686,000 after buying an additional 9,692 shares during the period. Swiss National Bank boosted its stake in shares of MGE Energy by 2.3% in the second quarter. Swiss National Bank now owns 58,250 shares of the utilities provider’s stock worth $3,748,000 after buying an additional 1,300 shares during the period. Principal Financial Group Inc. boosted its stake in shares of MGE Energy by 45.7% in the second quarter. Principal Financial Group Inc. now owns 17,753 shares of the utilities provider’s stock worth $1,143,000 after buying an additional 5,566 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of 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 during the period. Finally, Prudential Financial Inc. boosted its stake in shares of MGE Energy by 85.7% in the second quarter. Prudential Financial Inc. now owns 97,139 shares of the utilities provider’s stock worth $6,250,000 after buying an additional 44,830 shares during the period. 37.04% of the stock is owned by hedge funds and other institutional investors.

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MGE Energy (NASDAQ MGEE) opened at 63.85 on Wednesday. The company has a market capitalization of $2.21 billion, a P/E ratio of 28.66 and a beta of 0.35. The firm has a 50-day moving average of $64.75 and a 200 day moving average of $64.51. MGE Energy has a one year low of $53.48 and a one year high of $68.70.

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

About MGE Energy

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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