MGE Energy (NASDAQ:MGEE) Downgraded by StockNews.com

MGE Energy (NASDAQ:MGEE - Get Free Report) was downgraded by investment analysts at StockNews.com from a "hold" rating to a "sell" rating in a research report issued on Wednesday.

Separately, TheStreet cut MGE Energy from a "b" rating to a "c+" rating in a research report on Tuesday, January 30th.

MGE Energy Stock Down 1.2 %

Shares of NASDAQ:MGEE traded down $0.93 during midday trading on Wednesday, hitting $78.42. 228,106 shares of the stock were exchanged, compared to its average volume of 413,575. The business's fifty day simple moving average is $70.54 and its two-hundred day simple moving average is $71.49. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.05 and a current ratio of 1.52. MGE Energy has a 52-week low of $61.94 and a 52-week high of $83.27. The company has a market capitalization of $2.84 billion, a PE ratio of 24.13 and a beta of 0.72.

MGE Energy (NASDAQ:MGEE - Get Free Report) last released its quarterly earnings data on Wednesday, February 21st. The utilities provider reported $0.55 EPS for the quarter, missing analysts' consensus estimates of $0.61 by ($0.06). The firm had revenue of $164.65 million during the quarter, compared to analyst estimates of $190.55 million. MGE Energy had a return on equity of 10.49% and a net margin of 17.05%. As a group, research analysts predict that MGE Energy will post 3.68 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other MGE Energy news, Director James G. Berbee bought 458 shares of the stock in a transaction on Wednesday, March 6th. The shares were purchased at an average price of $82.16 per share, with a total value of $37,629.28. Following the acquisition, the director now directly owns 9,725 shares of the company's stock, valued at approximately $799,006. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.23% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Alps Advisors Inc. increased its holdings in MGE Energy by 27.5% in the 3rd quarter. Alps Advisors Inc. now owns 5,626 shares of the utilities provider's stock valued at $385,000 after buying an additional 1,215 shares during the period. Victory Capital Management Inc. raised its position in MGE Energy by 4.4% in the third quarter. Victory Capital Management Inc. now owns 1,169,321 shares of the utilities provider's stock worth $80,110,000 after purchasing an additional 49,220 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in MGE Energy by 3.6% during the second quarter. Russell Investments Group Ltd. now owns 20,296 shares of the utilities provider's stock worth $1,606,000 after purchasing an additional 697 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in MGE Energy by 2,966.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 21,955 shares of the utilities provider's stock valued at $1,504,000 after purchasing an additional 21,239 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of MGE Energy by 64.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 290,851 shares of the utilities provider's stock valued at $23,009,000 after purchasing an additional 114,273 shares during the period. 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.