MGE Energy Inc. (MGEE) Receives “Hold” Rating from Gabelli

MGE Energy Inc. (NASDAQ:MGEE)‘s stock had its “hold” rating reaffirmed by investment analysts at Gabelli in a report issued on Monday. Gabelli also issued estimates for MGE Energy’s FY2020 earnings at $2.50 EPS and FY2021 earnings at $2.65 EPS.

Other analysts also recently issued reports about the stock. BidaskClub downgraded shares of MGE Energy from a “sell” rating to a “strong sell” rating in a report on Thursday, August 17th. Zacks Investment Research upgraded shares of MGE Energy from a “sell” rating to a “hold” rating in a report on Thursday, September 7th.

Shares of MGE Energy (MGEE) opened at $64.20 on Monday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.47 and a current ratio of 3.02. The company has a market cap of $2,222.24, a price-to-earnings ratio of 29.14 and a beta of 0.34. MGE Energy has a 52-week low of $58.08 and a 52-week high of $68.70.

MGE Energy (NASDAQ:MGEE) last announced its quarterly earnings results on Friday, November 3rd. The utilities provider reported $0.77 earnings per share (EPS) for the quarter. The company had revenue of $139.54 million for the quarter. MGE Energy had a net margin of 13.52% and a return on equity of 10.31%.

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In related news, insider Jeffrey M. Keebler purchased 547 shares of MGE Energy stock in a transaction on Tuesday, September 5th. The shares were bought at an average cost of $64.02 per share, for a total transaction of $35,018.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.20% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of MGE Energy by 10.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,568 shares of the utilities provider’s stock worth $101,000 after buying an additional 154 shares during the last quarter. Strs Ohio increased its holdings in shares of MGE Energy by 6.3% in the 2nd quarter. Strs Ohio now owns 3,400 shares of the utilities provider’s stock worth $218,000 after buying an additional 200 shares during the last quarter. Amalgamated Bank increased its holdings in shares of MGE Energy by 2.9% in the 2nd quarter. Amalgamated Bank now owns 4,472 shares of the utilities provider’s stock worth $288,000 after buying an additional 126 shares during the last quarter. Ramsey Quantitative Systems bought a new stake in shares of MGE Energy in the 2nd quarter worth about $303,000. Finally, Campbell & CO Investment Adviser LLC bought a new stake in shares of MGE Energy in the 3rd quarter worth about $320,000. Hedge funds and other institutional investors own 38.04% of the company’s stock.

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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