MGE Energy (NASDAQ:MGEE) Downgraded to “Sell” at StockNews.com

StockNews.com lowered shares of MGE Energy (NASDAQ:MGEEFree Report) from a hold rating to a sell rating in a research report sent to investors on Friday.

MGEE has been the topic of a number of other reports. Morgan Stanley boosted their price target on shares of MGE Energy from $61.00 to $62.00 and gave the stock an underweight rating in a research report on Tuesday, November 21st. TheStreet cut MGE Energy from a b rating to a c+ rating in a report on Tuesday, January 30th.

View Our Latest Research Report on MGE Energy

MGE Energy Price Performance

Shares of MGEE opened at $65.42 on Friday. MGE Energy has a one year low of $62.09 and a one year high of $83.27. The stock’s fifty day moving average is $70.07 and its 200-day moving average is $72.34. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.17 and a current ratio of 1.76. The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of 19.95, a price-to-earnings-growth ratio of 3.27 and a beta of 0.71.

MGE Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Friday, March 1st will be given a dividend of $0.428 per share. The ex-dividend date is Thursday, February 29th. This represents a $1.71 annualized dividend and a dividend yield of 2.62%. MGE Energy’s dividend payout ratio (DPR) is 52.13%.

Institutional Trading of MGE Energy

Hedge funds and other institutional investors have recently made changes to their positions in the business. T. Rowe Price Investment Management Inc. grew its position in MGE Energy by 9.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,663,504 shares of the utilities provider’s stock worth $187,511,000 after buying an additional 222,061 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of MGE Energy by 9.0% during the second quarter. Price T Rowe Associates Inc. MD now owns 2,314,802 shares of the utilities provider’s stock worth $180,161,000 after purchasing an additional 191,995 shares during the period. State Street Corp lifted its holdings in shares of MGE Energy by 15.7% during the first quarter. State Street Corp now owns 983,186 shares of the utilities provider’s stock valued at $78,448,000 after purchasing an additional 133,267 shares during the last quarter. JPMorgan Chase & Co. boosted its position 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. Finally, Susquehanna International Group LLP increased its stake in MGE Energy by 2,625.3% in the 1st quarter. Susquehanna International Group LLP now owns 118,605 shares of the utilities provider’s stock worth $9,212,000 after purchasing an additional 114,253 shares in the last quarter. 54.08% of the stock is currently owned by institutional investors.

About MGE Energy

(Get Free Report)

MGE Energy, Inc, through its subsidiaries, operates as a public utility holding company primarily in Wisconsin. 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; and plans, constructs, operates, maintains, and expands transmission facilities to provide transmission services.

Recommended Stories

Receive News & Ratings for MGE Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MGE Energy and related companies with MarketBeat.com's FREE daily email newsletter.