MGE Energy (NASDAQ:MGEE) Raised to Neutral at LADENBURG THALM/SH SH

Key Points

• MGE Energy has been upgraded from a "sell" to a "neutral" rating by LADENBURG THALM/SH SH, with a price target of $83.00, indicating a potential downside of 0.57% from its current stock price.
• Despite the upgrade, other analysts have varying views, with Morgan Stanley maintaining an "underweight" rating and Wall Street Zen downgrading the stock from "buy" to "hold."
• Institutional investors have shown increased interest in MGE Energy, with significant stake increases by firms like First Trust Advisors and GAMMA Investing, reflecting growing confidence in the company's performance.

MGE Energy (NASDAQ:MGEE - Get Free Report) was upgraded by equities researchers at LADENBURG THALM/SH SH from a "sell" rating to a "neutral" rating in a research note issued to investors on Thursday,Finviz reports. The brokerage currently has a $83.00 price target on the utilities provider's stock. LADENBURG THALM/SH SH's price objective would indicate a potential downside of 0.57% from the company's current price.

Other equities research analysts have also recently issued research reports about the company. Morgan Stanley restated an "underweight" rating on shares of MGE Energy in a report on Thursday, August 21st. Wall Street Zen cut MGE Energy from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Reduce" and a consensus target price of $78.50.

MGE Energy Trading Up 0.0%

Shares of NASDAQ:MGEE opened at $83.48 on Thursday. MGE Energy has a 12-month low of $82.21 and a 12-month high of $109.22. The stock has a market cap of $3.05 billion, a PE ratio of 23.19 and a beta of 0.80. The business has a 50 day moving average of $85.64 and a 200-day moving average of $88.81. The company has a quick ratio of 1.20, a current ratio of 1.80 and a debt-to-equity ratio of 0.60.

MGE Energy (NASDAQ:MGEE - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.73 by ($0.01). MGE Energy had a return on equity of 10.58% and a net margin of 18.24%.The firm had revenue of $159.45 million for the quarter. As a group, equities research analysts forecast that MGE Energy will post 3.43 earnings per share for the current year.

Insider Buying and Selling at MGE Energy

In other MGE Energy news, Director James G. Berbee purchased 507 shares of the company's stock in a transaction dated Friday, August 15th. The stock was bought at an average cost of $83.83 per share, for a total transaction of $42,501.81. Following the completion of the transaction, the director owned 6,329 shares in the company, valued at approximately $530,560.07. This represents a 8.71% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.19% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in MGE Energy by 1.8% during the second quarter. Geode Capital Management LLC now owns 912,735 shares of the utilities provider's stock valued at $80,737,000 after purchasing an additional 15,762 shares in the last quarter. First Trust Advisors LP raised its position in MGE Energy by 407.1% during the second quarter. First Trust Advisors LP now owns 499,950 shares of the utilities provider's stock valued at $44,216,000 after purchasing an additional 401,361 shares in the last quarter. GAMMA Investing LLC raised its position in MGE Energy by 9,697.0% during the first quarter. GAMMA Investing LLC now owns 456,248 shares of the utilities provider's stock valued at $42,413,000 after purchasing an additional 451,591 shares in the last quarter. Northern Trust Corp raised its position in MGE Energy by 0.3% during the first quarter. Northern Trust Corp now owns 394,414 shares of the utilities provider's stock valued at $36,665,000 after purchasing an additional 1,287 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in MGE Energy by 1.3% during the second quarter. Bank of New York Mellon Corp now owns 350,726 shares of the utilities provider's stock valued at $31,018,000 after purchasing an additional 4,599 shares in the last quarter. 52.58% of the stock is currently owned by institutional investors and hedge funds.

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.

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