MGE Energy (NASDAQ:MGEE) Downgraded to Hold Rating by Wall Street Zen

MGE Energy (NASDAQ:MGEE - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Saturday.

Several other research analysts also recently weighed in on MGEE. Morgan Stanley cut their price target on MGE Energy from $75.00 to $74.00 and set an "underweight" rating for the company in a research note on Thursday, May 22nd. LADENBURG THALM/SH SH upgraded MGE Energy to a "strong sell" rating in a research note on Friday, May 9th.

MGE Energy Stock Down 0.3%

MGEE stock opened at $86.53 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.49 and a current ratio of 2.07. The company has a market capitalization of $3.16 billion, a price-to-earnings ratio of 24.44 and a beta of 0.76. MGE Energy has a fifty-two week low of $82.90 and a fifty-two week high of $109.22. The stock has a fifty day moving average of $88.73 and a 200-day moving average of $90.04.

MGE Energy (NASDAQ:MGEE - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The utilities provider reported $1.14 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.16. The company had revenue of $218.97 million during the quarter, compared to the consensus estimate of $202.42 million. MGE Energy had a return on equity of 10.58% and a net margin of 18.22%. As a group, equities research analysts predict that MGE Energy will post 3.43 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Hilltop National Bank bought a new position in MGE Energy in the 2nd quarter worth about $41,000. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of MGE Energy by 47.3% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 526 shares of the utilities provider's stock valued at $47,000 after acquiring an additional 169 shares during the last quarter. eCIO Inc. bought a new stake in shares of MGE Energy during the 1st quarter valued at about $53,000. Sterling Capital Management LLC boosted its position in shares of MGE Energy by 656.2% during the 4th quarter. Sterling Capital Management LLC now owns 673 shares of the utilities provider's stock valued at $63,000 after acquiring an additional 584 shares during the last quarter. Finally, Focus Partners Wealth bought a new stake in shares of MGE Energy during the 4th quarter valued at about $116,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.