MGE Energy Inc. (NASDAQ:MGEE) has earned an average broker rating score of 3.00 (Hold) from the one brokers that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation.
Zacks has also assigned MGE Energy an industry rank of 90 out of 265 based on the ratings given to related companies.
MGEE has been the subject of several research reports. BidaskClub raised shares of MGE Energy from a “hold” rating to a “buy” rating in a report on Saturday, June 17th. Zacks Investment Research downgraded shares of MGE Energy from a “hold” rating to a “sell” rating in a report on Friday, July 14th.
MGE Energy (NASDAQ:MGEE) traded up 0.30% during midday trading on Tuesday, reaching $66.75. The company had a trading volume of 1,640 shares. The company has a market capitalization of $2.31 billion, a price-to-earnings ratio of 29.73 and a beta of 0.35. The firm has a 50-day moving average price of $65.27 and a 200-day moving average price of $64.28. MGE Energy has a 52 week low of $53.48 and a 52 week high of $68.70.
MGE Energy (NASDAQ:MGEE) last issued its quarterly earnings results on Friday, May 5th. The utilities provider reported $0.56 earnings per share (EPS) for the quarter. MGE Energy had a return on equity of 10.81% and a net margin of 14.05%. The business had revenue of $156.82 million during the quarter. Analysts expect that MGE Energy will post $2.30 EPS for the current fiscal year.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in MGEE. Bessemer Group Inc. increased its position in MGE Energy by 0.8% in the second quarter. Bessemer Group Inc. now owns 39,519 shares of the utilities provider’s stock valued at $2,544,000 after buying an additional 319 shares during the period. Russell Investments Group Ltd. increased its position in MGE Energy by 146.3% in the second quarter. Russell Investments Group Ltd. now owns 8,102 shares of the utilities provider’s stock valued at $522,000 after buying an additional 4,812 shares during the period. Finally, Strs Ohio increased its position in MGE Energy by 6.3% in the second quarter. Strs Ohio now owns 3,400 shares of the utilities provider’s stock valued at $218,000 after buying an additional 200 shares during the period. 37.89% of the stock is owned by institutional investors and hedge funds.
About MGE Energy
MGE Energy, Inc (MGE) is a public utility holding company. The Company operates through five segments: Regulated electric utility operations; Regulated gas utility operations; Nonregulated energy operations; Transmission investments, and All other. The Regulated electric utility operations segment is engaged in generating, purchasing and distributing electricity through Madison Gas and Electric Company (MGE).
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