Zacks Investment Research Downgrades MGE Energy Inc. (MGEE) to Sell

MGE Energy Inc. (NASDAQ:MGEE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

According to Zacks, “MGE Energy is a public utility holding company. Its principal subsidiary, MGE, generates and distributes electricity to more than 128,000 customers in Dane County, Wisconsin (250 square miles) and purchases, transports and distributes natural gas to nearly 123,000 customers in seven south-central and western Wisconsin counties (1,375 square miles). (Press Release) “

Separately, BidaskClub raised shares of MGE Energy from a “hold” rating to a “buy” rating in a report on Saturday, June 17th.

MGE Energy (NASDAQ MGEE) opened at 62.95 on Friday. The stock’s 50 day moving average is $65.75 and its 200-day moving average is $64.34. MGE Energy has a 52-week low of $53.48 and a 52-week high of $68.60. The company has a market capitalization of $2.18 billion, a P/E ratio of 28.04 and a beta of 0.35.

MGE Energy (NASDAQ:MGEE) last released its quarterly earnings data on Friday, May 5th. The utilities provider reported $0.56 earnings per share for the quarter. MGE Energy had a net margin of 14.05% and a return on equity of 10.81%. The firm had revenue of $156.82 million during the quarter. Analysts predict that MGE Energy will post $2.30 EPS for the current fiscal year.

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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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