MGE Energy (NASDAQ:MGEE) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Thursday.

Shares of NASDAQ:MGEE opened at $56.60 on Thursday. The firm has a market capitalization of $1.98 billion, a P/E ratio of 25.38 and a beta of 0.30. MGE Energy has a 1 year low of $56.50 and a 1 year high of $56.60. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.34 and a quick ratio of 2.00.

MGE Energy (NASDAQ:MGEE) last issued its quarterly earnings data on Friday, February 23rd. The utilities provider reported $0.45 earnings per share (EPS) for the quarter. The firm had revenue of $140.27 million during the quarter. MGE Energy had a net margin of 17.43% and a return on equity of 10.19%.

In other MGE Energy news, Director James G. Berbee acquired 449 shares of the firm’s stock in a transaction that occurred on Tuesday, March 13th. The stock was purchased at an average cost of $55.73 per share, for a total transaction of $25,022.77. Following the completion of the acquisition, the director now owns 449 shares of the company’s stock, valued at approximately $25,022.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffrey M. Keebler acquired 627 shares of the firm’s stock in a transaction that occurred on Tuesday, March 13th. The stock was acquired at an average price of $55.73 per share, with a total value of $34,942.71. The disclosure for this purchase can be found here. Insiders purchased 1,435 shares of company stock valued at $79,921 over the last quarter. 0.19% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC lifted its position in MGE Energy by 49.4% during the 1st quarter. Millennium Management LLC now owns 55,942 shares of the utilities provider’s stock worth $3,138,000 after acquiring an additional 18,498 shares during the last quarter. LPL Financial LLC lifted its position in MGE Energy by 23.7% during the 1st quarter. LPL Financial LLC now owns 17,243 shares of the utilities provider’s stock worth $967,000 after acquiring an additional 3,298 shares during the last quarter. Barclays PLC lifted its position in MGE Energy by 28.2% during the 1st quarter. Barclays PLC now owns 9,671 shares of the utilities provider’s stock worth $543,000 after acquiring an additional 2,126 shares during the last quarter. A.R.T. Advisors LLC acquired a new position in MGE Energy during the 1st quarter worth $428,000. Finally, GSA Capital Partners LLP acquired a new position in MGE Energy during the 1st quarter worth $429,000. 39.14% of the stock is owned by hedge funds and other institutional investors.

About MGE Energy

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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