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

StockNews.com downgraded shares of MGE Energy (NASDAQ:MGEEFree Report) from a hold rating to a sell rating in a research note released on Wednesday.

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

Check Out Our Latest Analysis on MGEE

MGE Energy Stock Performance

MGEE stock opened at $78.42 on Wednesday. The company has a market cap of $2.84 billion, a P/E ratio of 24.13 and a beta of 0.72. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.52 and a quick ratio of 1.05. The stock’s fifty day moving average price is $70.54 and its 200-day moving average price is $71.49. MGE Energy has a 1 year low of $61.94 and a 1 year high of $83.27.

MGE Energy (NASDAQ:MGEEGet Free Report) last announced its quarterly earnings data on Wednesday, February 21st. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.06). MGE Energy had a net margin of 17.05% and a return on equity of 10.49%. The company had revenue of $164.65 million for the quarter, compared to the consensus estimate of $190.55 million. On average, equities analysts forecast that MGE Energy will post 3.68 earnings per share for the current year.

MGE Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a $0.428 dividend. The ex-dividend date was Thursday, February 29th. This represents a $1.71 dividend on an annualized basis and a yield of 2.18%. MGE Energy’s dividend payout ratio is presently 52.62%.

Insiders Place Their Bets

In other news, Director James G. Berbee acquired 458 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were acquired at an average price of $82.16 per share, for a total transaction of $37,629.28. Following the completion of the transaction, the director now directly owns 9,725 shares of the company’s stock, valued at approximately $799,006. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.23% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of MGEE. KBC Group NV bought a new stake in shares of MGE Energy during the 4th quarter worth approximately $34,000. Security National Bank bought a new stake in shares of MGE Energy during the fourth quarter worth $43,000. Covestor Ltd boosted its stake in shares of MGE Energy by 31.6% during the third quarter. Covestor Ltd now owns 641 shares of the utilities provider’s stock valued at $44,000 after purchasing an additional 154 shares during the period. Quantbot Technologies LP purchased a new stake in shares of MGE Energy during the third quarter valued at $47,000. Finally, Money Concepts Capital Corp bought a new position in shares of MGE Energy in the fourth quarter worth about $48,000. Hedge funds and other institutional investors own 52.58% of the company’s stock.

About MGE Energy

(Get Free Report)

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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