MGE Energy (NASDAQ:MGEE) Upgraded by LADENBURG THALM/SH SH to “Strong Sell” Rating

MGE Energy (NASDAQ:MGEE) was upgraded by analysts at LADENBURG THALM/SH SH to a “strong sell” rating in a report released on Monday,Zacks.com reports.

MGE Energy Trading Down 0.4 %

NASDAQ:MGEE opened at $92.65 on Monday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.41 and a quick ratio of 0.94. MGE Energy has a fifty-two week low of $72.27 and a fifty-two week high of $109.22. The stock’s 50-day moving average is $90.77 and its two-hundred day moving average is $93.38. The stock has a market cap of $3.38 billion, a PE ratio of 28.33 and a beta of 0.72.

MGE Energy (NASDAQ:MGEE) last released its earnings results on Tuesday, February 25th. The utilities provider reported $0.61 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.23). MGE Energy had a net margin of 17.70% and a return on equity of 10.18%. The business had revenue of $171.42 million for the quarter. As a group, equities research analysts forecast that MGE Energy will post 3.43 earnings per share for the current fiscal year.

Insider Activity at MGE Energy

In other news, Director James G. Berbee purchased 446 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average price of $90.83 per share, with a total value of $40,510.18. Following the purchase, the director now owns 11,532 shares in the company, valued at $1,047,451.56. This represents a 4.02 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MGE Energy

Several large investors have recently made changes to their positions in MGEE. State Street Corp lifted its holdings in MGE Energy by 0.5% in the 3rd quarter. State Street Corp now owns 1,460,360 shares of the utilities provider’s stock worth $133,550,000 after purchasing an additional 7,294 shares during the last quarter. Geode Capital Management LLC lifted its holdings in MGE Energy by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 863,707 shares of the utilities provider’s stock worth $79,001,000 after purchasing an additional 5,796 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in MGE Energy by 0.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 769,612 shares of the utilities provider’s stock worth $72,314,000 after purchasing an additional 2,225 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in MGE Energy by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 432,877 shares of the utilities provider’s stock worth $40,673,000 after purchasing an additional 7,416 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in MGE Energy by 6.7% in the 4th quarter. Northern Trust Corp now owns 393,127 shares of the utilities provider’s stock worth $36,938,000 after purchasing an additional 24,605 shares during the last quarter. Institutional investors own 52.58% of the company’s stock.

MGE Energy Company Profile

MGE Energy, Inc, through its subsidiaries, operates as a public utility holding company primarily in the United States. It operates through Regulated Electric Utility Operations; Regulated Gas Utility Operations; Nonregulated Energy Operations; Transmission Investments; and All Other segments. The company generates, purchases, and distributes electricity and natural gas in Wisconsin and Iowa; owns and leases electric generating capacity; and plans, constructs, operates, maintains, and expands transmission facilities to provide transmission power services.