MGE Energy (NASDAQ:MGEE) Share Price Passes Above 200-Day Moving Average – Should You Sell?

MGE Energy, Inc. (NASDAQ:MGEE) passed above its 200-day moving average during trading on Thursday . The stock has a 200-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.

Wall Street Analysts Forecast Growth

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

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 market capitalization of $3.40 billion, a PE ratio of 28.70 and a beta of 0.76. The company has a 50 day moving average price of $98.44 and a 200-day moving average price of $91.07.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Versant Capital Management Inc lifted its position in shares of MGE Energy by 367.1% in the 4th quarter. Versant Capital Management Inc now owns 327 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 257 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised 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 buying an additional 168 shares in the last quarter. Assetmark Inc. purchased a new stake in MGE Energy in the third quarter worth about $35,000. Covestor Ltd boosted its position in MGE Energy by 37.3% during the 3rd quarter. Covestor Ltd now owns 453 shares of the utilities provider’s stock valued at $42,000 after acquiring an additional 123 shares in the last quarter. Finally, Quest Partners LLC grew its holdings in shares of MGE Energy by 5,088.9% during the 2nd quarter. Quest Partners LLC now owns 467 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 458 shares during the period. 52.58% of the stock is owned by hedge funds and other institutional investors.

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.