MGE Energy (NASDAQ:MGEE) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

MGE Energy, Inc. (NASDAQ:MGEE)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $91.07 and traded as high as $93.98. MGE Energy shares last traded at $93.85, with a volume of 112,228 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Morgan Stanley boosted their target price on shares of MGE Energy from $71.00 to $74.00 and gave the company an “underweight” rating in a report on Wednesday, September 25th. LADENBURG THALM/SH SH raised shares of MGE Energy to a “strong sell” rating in a research note on Thursday, December 12th.

MGE Energy Stock Up 2.3 %

The company has a debt-to-equity ratio of 0.60, a current ratio of 1.41 and a quick ratio of 0.94. The stock has a 50 day simple moving average of $98.44 and a 200-day simple moving average of $91.07. The firm has a market cap of $3.40 billion, a PE ratio of 28.70 and a beta of 0.76.

Hedge Funds Weigh In On MGE Energy

Several large investors have recently modified their holdings of MGEE. State Street Corp grew its position in MGE Energy by 0.5% during the 3rd quarter. State Street Corp now owns 1,460,360 shares of the utilities provider’s stock valued at $133,550,000 after purchasing an additional 7,294 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of MGE Energy by 0.7% in the third quarter. Geode Capital Management LLC now owns 863,707 shares of the utilities provider’s stock worth $79,001,000 after buying an additional 5,796 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of MGE Energy by 2.7% during the second quarter. Dimensional Fund Advisors LP now owns 783,396 shares of the utilities provider’s stock valued at $58,536,000 after buying an additional 20,533 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of MGE Energy by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 425,461 shares of the utilities provider’s stock valued at $38,908,000 after acquiring an additional 8,629 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC purchased a new position in MGE Energy in the 3rd quarter worth approximately $11,765,000. Hedge funds and other institutional investors 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.