MGE Energy (NASDAQ:MGEE) Sets New 12-Month High at $76.48
MGE Energy, Inc. (NASDAQ:MGEE) shares hit a new 52-week high during trading on Monday . The company traded as high as $76.48 and last traded at $76.23, with a volume of 32477 shares trading hands. The stock had previously closed at $75.46.
Separately, BidaskClub raised shares of MGE Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, August 6th.
The stock’s 50-day moving average price is $73.87 and its 200 day moving average price is $69.01. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of 30.25 and a beta of 0.42. The company has a quick ratio of 1.33, a current ratio of 1.65 and a debt-to-equity ratio of 0.61.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Steward Partners Investment Advisory LLC acquired a new position in MGE Energy in the second quarter worth about $35,000. Coastal Capital Group Inc. acquired a new position in MGE Energy in the second quarter worth about $44,000. Enterprise Financial Services Corp raised its position in MGE Energy by 342.9% in the first quarter. Enterprise Financial Services Corp now owns 775 shares of the utilities provider’s stock worth $53,000 after purchasing an additional 600 shares in the last quarter. Quadrant Capital Group LLC raised its position in MGE Energy by 2,184.2% in the first quarter. Quadrant Capital Group LLC now owns 868 shares of the utilities provider’s stock worth $57,000 after purchasing an additional 830 shares in the last quarter. Finally, NEXT Financial Group Inc raised its position in MGE Energy by 59.1% in the second quarter. NEXT Financial Group Inc now owns 1,273 shares of the utilities provider’s stock worth $93,000 after purchasing an additional 473 shares in the last quarter. 42.88% of the stock is owned by institutional investors and hedge funds.
MGE Energy Company Profile (NASDAQ:MGEE)
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.
Read More: Neutral Rating
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