MGE Energy (NASDAQ:MGEE) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued on Thursday.
Separately, Gabelli reissued a “hold” rating on shares of MGE Energy in a research report on Monday, November 13th.
Shares of MGE Energy (NASDAQ MGEE) opened at $54.55 on Thursday. The firm has a market cap of $1,890.00, a price-to-earnings ratio of 24.91 and a beta of 0.24. The company has a current ratio of 3.02, a quick ratio of 2.47 and a debt-to-equity ratio of 0.52. MGE Energy has a 12-month low of $54.30 and a 12-month high of $68.70.
Several large investors have recently bought and sold shares of the company. BlackRock Inc. lifted its position in shares of MGE Energy by 1.4% in the 4th quarter. BlackRock Inc. now owns 2,267,361 shares of the utilities provider’s stock worth $143,071,000 after purchasing an additional 30,521 shares during the period. State Street Corp lifted its position in shares of MGE Energy by 5.8% in the 2nd quarter. State Street Corp now owns 777,467 shares of the utilities provider’s stock worth $50,028,000 after purchasing an additional 42,917 shares during the period. Victory Capital Management Inc. lifted its position in shares of MGE Energy by 14.9% in the 4th quarter. Victory Capital Management Inc. now owns 612,023 shares of the utilities provider’s stock worth $38,619,000 after purchasing an additional 79,450 shares during the period. First Trust Advisors LP lifted its position in shares of MGE Energy by 16.8% in the 4th quarter. First Trust Advisors LP now owns 367,739 shares of the utilities provider’s stock worth $23,204,000 after purchasing an additional 52,962 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of MGE Energy by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 317,117 shares of the utilities provider’s stock worth $20,010,000 after purchasing an additional 5,212 shares during the period. 38.66% of the stock is owned by hedge funds and other institutional investors.
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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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