MGE Energy (NASDAQ:MGEE) Shares Gap Down - Should You Sell?

MGE Energy, Inc. (NASDAQ:MGEE - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $89.85, but opened at $87.54. MGE Energy shares last traded at $89.15, with a volume of 4,287 shares.

Wall Street Analysts Forecast Growth

MGEE has been the topic of a number of research reports. LADENBURG THALM/SH SH raised shares of MGE Energy to a "strong sell" rating in a research note on Monday, March 17th. Morgan Stanley upped their target price on shares of MGE Energy from $78.00 to $80.00 and gave the stock an "underweight" rating in a research note on Thursday, March 20th.

MGE Energy Stock Up 0.2 %

The stock's fifty day moving average price is $91.05 and its 200-day moving average price is $93.54. The company has a quick ratio of 0.94, a current ratio of 1.41 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $3.29 billion, a price-to-earnings ratio of 27.49 and a beta of 0.71.

MGE Energy (NASDAQ:MGEE - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.61 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.23). The business had revenue of $171.42 million for the quarter. MGE Energy had a return on equity of 10.18% and a net margin of 17.70%. On average, sell-side analysts predict that MGE Energy, Inc. will post 3.43 earnings per share for the current fiscal year.

Insider Transactions at MGE Energy

In other news, Director James G. Berbee bought 446 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were acquired at an average cost of $90.83 per share, for a total transaction of $40,510.18. Following the completion of the acquisition, the director now owns 11,532 shares in the company, valued at approximately $1,047,451.56. This represents a 4.02 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.19% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in MGE Energy by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 769,612 shares of the utilities provider's stock valued at $72,314,000 after buying an additional 2,225 shares during the period. GAMMA Investing LLC raised its stake in MGE Energy by 9,697.0% in the 1st quarter. GAMMA Investing LLC now owns 456,248 shares of the utilities provider's stock valued at $42,413,000 after acquiring an additional 451,591 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of MGE Energy by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 432,877 shares of the utilities provider's stock valued at $40,673,000 after purchasing an additional 7,416 shares during the last quarter. Northern Trust Corp raised its position in shares of MGE Energy by 6.7% in the fourth quarter. Northern Trust Corp now owns 393,127 shares of the utilities provider's stock valued at $36,938,000 after purchasing an additional 24,605 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in shares of MGE Energy by 4.1% during the 4th quarter. Principal Financial Group Inc. now owns 191,447 shares of the utilities provider's stock worth $17,988,000 after buying an additional 7,554 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.

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