BidaskClub Downgrades MGE Energy (MGEE) to Strong Sell

MGE Energy (NASDAQ:MGEE) was downgraded by stock analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Thursday.

Separately, Gabelli restated a “hold” rating on shares of MGE Energy in a research report on Monday, November 13th.

MGE Energy (NASDAQ MGEE) opened at $55.65 on Thursday. MGE Energy has a fifty-two week low of $53.10 and a fifty-two week high of $68.70. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.02 and a quick ratio of 2.47. The firm has a market cap of $1,898.09, a price-to-earnings ratio of 25.30 and a beta of 0.24.

A number of institutional investors and hedge funds have recently modified their holdings of MGEE. Ameriprise Financial Inc. lifted its position in MGE Energy by 24.3% in the second quarter. Ameriprise Financial Inc. now owns 13,193 shares of the utilities provider’s stock worth $849,000 after buying an additional 2,581 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in MGE Energy by 16.2% in the second quarter. Goldman Sachs Group Inc. now owns 35,815 shares of the utilities provider’s stock worth $2,304,000 after buying an additional 4,980 shares during the last quarter. Royal Bank of Canada lifted its position in MGE Energy by 5.0% in the second quarter. Royal Bank of Canada now owns 24,860 shares of the utilities provider’s stock worth $1,600,000 after buying an additional 1,183 shares during the last quarter. State Street Corp lifted its position in MGE Energy by 5.8% in the second quarter. State Street Corp now owns 777,467 shares of the utilities provider’s stock worth $50,028,000 after buying an additional 42,917 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its position in MGE Energy by 58.8% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 6,697 shares of the utilities provider’s stock worth $431,000 after buying an additional 2,480 shares during the last quarter. Institutional investors own 38.66% of the company’s stock.

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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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