Stock of the Day: Could MGE Energy, Inc. Lose its Strength? The Stock Reaches 52-Week High

Stock of the Day: Could MGE Energy, Inc. Lose its Strength? The Stock Reaches 52 Week High

The stock of MGE Energy, Inc. (NASDAQ:MGEE) hit a new 52-week high and has $98.66 target or 64.00% above today’s $60.16 share price. The 5 months bullish chart indicates low risk for the $2.09 billion company. The 1-year high was reported on Nov, 11 by Barchart.com. If the $98.66 price target is reached, the company will be worth $1.34B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 183,236 shares traded hands or 145.29% up from the average. MGE Energy, Inc. (NASDAQ:MGEE) has risen 18.06% since April 11, 2016 and is uptrending. It has outperformed by 11.91% the S&P500.

According to Zacks Investment Research, “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)”

Insitutional Activity: The institutional sentiment increased to 1.62 in 2016 Q2. Its up 0.09, from 1.53 in 2016Q1. The ratio increased, as 10 funds sold all MGE Energy, Inc. shares owned while 35 reduced positions. 24 funds bought stakes while 49 increased positions. They now own 12.30 million shares or 0.79% less from 12.40 million shares in 2016Q1.
Pdts Ptnrs Limited Liability Company has 13,662 shares for 0.06% of their US portfolio. Los Angeles Capital Mngmt And Equity Rech has invested 0.02% of its portfolio in MGE Energy, Inc. (NASDAQ:MGEE). Moreover, North Star Inv Corp has 0.18% invested in MGE Energy, Inc. (NASDAQ:MGEE) for 16,949 shares. The New Jersey-based Blackrock Inv Mngmt Ltd Com has invested 0.01% in MGE Energy, Inc. (NASDAQ:MGEE). Blair William Il reported 6,025 shares or 0% of all its holdings. Martingale Asset Mgmt Ltd Partnership last reported 20,811 shares in the company. Macquarie Gru Limited owns 9,900 shares or 0% of their US portfolio. Hennessy Advsr reported 46,554 shares or 0.08% of all its holdings. Oarsman holds 1.07% of its portfolio in MGE Energy, Inc. (NASDAQ:MGEE) for 36,508 shares. Blackrock Grp Inc, a United Kingdom-based fund reported 27,681 shares. Citigroup Inc holds 0% of its portfolio in MGE Energy, Inc. (NASDAQ:MGEE) for 5,643 shares. The Australia-based Amp Invsts has invested 0% in MGE Energy, Inc. (NASDAQ:MGEE). The North Carolina-based Bragg has invested 0.1% in MGE Energy, Inc. (NASDAQ:MGEE). Millennium Mngmt Ltd Liability Com last reported 0% of its portfolio in the stock. Susquehanna International Grp Llp has invested 0% of its portfolio in MGE Energy, Inc. (NASDAQ:MGEE).

More recent MGE Energy, Inc. (NASDAQ:MGEE) news were published by: Marketwatch.com which released: “/quotes/zigman/3870025/realtime” on October 25, 2010. Also Jsonline.com published the news titled: “Wolter, MGE Energy CEO, to retire next year” on October 19, 2016. Businesswire.com‘s news article titled: “MGE Energy Issues June 2016 ‘Interim Report'” with publication date: June 15, 2016 was also an interesting one.

MGEE Company Profile

MGE Energy, Inc., incorporated on October 31, 2001, is a holding company. The Firm operates through its subsidiaries. The Firm operates through five divisions: Regulated electric utility operations, Regulated gas utility operations, Nonregulated energy operations, Transmission investments and All other.

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