MGE Energy (NASDAQ:MGEE) Shares Gap Down – Here’s Why

MGE Energy, Inc. (NASDAQ:MGEE)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $89.85, but opened at $87.54. MGE Energy shares last traded at $89.15, with a volume of 4,287 shares changing hands.

Wall Street Analyst Weigh In

MGEE has been the topic of a number of recent analyst reports. LADENBURG THALM/SH SH raised shares of MGE Energy to a “strong sell” rating in a research report on Monday, March 17th. Morgan Stanley reissued an “underweight” rating on shares of MGE Energy in a research report on Wednesday, April 23rd.

MGE Energy Price Performance

The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.94 and a current ratio of 1.41. The company has a market capitalization of $3.34 billion, a PE ratio of 27.97 and a beta of 0.71. The company’s 50-day simple moving average is $91.05 and its 200-day simple moving average is $93.52.

MGE Energy (NASDAQ:MGEE) last issued its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.23). MGE Energy had a return on equity of 10.18% and a net margin of 17.70%. The business had revenue of $171.42 million for the quarter. As a group, sell-side analysts anticipate that MGE Energy, Inc. will post 3.43 earnings per share for the current year.

Insider Transactions at MGE Energy

In related news, Director James G. Berbee acquired 446 shares of MGE Energy stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average price of $90.83 per share, for a total transaction of $40,510.18. Following the completion of the purchase, the director now directly owns 11,532 shares of the company’s stock, valued at approximately $1,047,451.56. This trade represents a 4.02 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On MGE Energy

Large investors have recently bought and sold shares of the stock. Merit Financial Group LLC raised its position in shares of MGE Energy by 1.7% in the 4th quarter. Merit Financial Group LLC now owns 7,079 shares of the utilities provider’s stock worth $665,000 after buying an additional 116 shares during the period. Creative Financial Designs Inc. ADV increased its position in shares of MGE Energy by 1.8% during the first quarter. Creative Financial Designs Inc. ADV now owns 7,215 shares of the utilities provider’s stock worth $671,000 after acquiring an additional 126 shares during the last quarter. Savant Capital LLC increased its position in shares of MGE Energy by 2.9% during the fourth quarter. Savant Capital LLC now owns 4,922 shares of the utilities provider’s stock worth $462,000 after acquiring an additional 139 shares during the last quarter. EnRich Financial Partners LLC grew its stake in MGE Energy by 8.7% in the fourth quarter. EnRich Financial Partners LLC now owns 1,744 shares of the utilities provider’s stock worth $164,000 after purchasing an additional 139 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its stake in MGE Energy by 88.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 357 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 168 shares in the last quarter. Institutional investors and hedge funds own 52.58% of the company’s stock.

MGE Energy Company Profile

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.