MGE Energy MGEE Upgraded From Sell to Hold by Analysts at StockNews.com

In a recent evaluation of utility companies, MGE Energy, Inc., carrying the ticker MGEE, has seen a change in its stock market forecast. Stock analysts at StockNews.com have upgraded MGEE from a "sell" rating to a "hold" rating, suggesting a shift in their perspective on the stock. This revision was detailed in their report released on Saturday.

Adjustments in Stock Ratings and Price Targets

Morgan Stanley, another prominent figure in stock analysis, adjusted its price target for MGEE. The firm reduced its target from $65.00 to $61.00 and maintains an "underweight" rating on the company's shares. This rating indicates a potential downside from the stock's current market price, reflecting caution towards investing in MGEE at this time.

Trading Performance of MGE Energy

The trading price for MGEE opened at $71.59 on the last Friday reported. The company has had a 52-week low of $65.10 and a 52-week high of $83.27. With a market capitalization of $2.59 billion, MGEE presents a price-to-earnings ratio of 21.83, a PEG ratio of 3.96, and a beta of 0.76, indicating its volatility relative to the overall market. The utility holding firm has shown stability with a quick ratio of 1.17 and a current ratio of 1.76, alongside a manageable debt-to-equity ratio of 0.62. Investors also monitor the moving average prices, with a 50-day moving average at $71.67 and a 200-day moving average at $75.12.

Insider Movements and Hedge Fund Activity

Recent insider activity within MGEE revealed that Director James G. Berbee invested in 434 shares at an average price of $74.84, totaling an expenditure of $32,480.56. Following this transaction, he now directly owns 8,291 shares of the company, valued at approximately $620,498.44. Disclosure of this purchase is documented with the SEC.

Hedge funds and institutional investors have exhibited varying degrees of interest in MGEE. Notably, Bank of New York Mellon Corp BK, increased its holdings in MGEE by 1.5% in the first quarter of the year, now owning 339,549 shares. Alongside BK, MetLife Investment Management LLC MET, expanded its portfolio by acquiring an additional 5,687 shares, marking a 44.4% increase. Similarly, institutions like Vanguard Group Inc. added 19,371 shares to its investment in MGEE, showcasing ongoing confidence from large-scale investors.

Understanding MGE Energy's Operations

MGEE, headquartered in Madison, Wisconsin, operates as a public utility holding company, serving both residential and business customers in Wisconsin. The operations span across several segments including Regulated Electric and Gas Utility Operations, Nonregulated Energy Operations, Transmission Investments, and more. The company is committed to generating, purchasing, and distributing electricity and natural gas efficiently and effectively to its service areas.

MGE Energy, Hold Rating, Stock Upgrade