Fintel reports that on April 20, 2023, Morgan Stanley maintained coverage of MGE Energy (NASDAQ:MGEE) with a Underweight recommendation.
Analyst Price Forecast Suggests 7.85% Downside
As of April 7, 2023, the average one-year price target for MGE Energy is $71.40. The forecasts range from a low of $68.68 to a high of $75.60. The average price target represents a decrease of 7.85% from its latest reported closing price of $77.48.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for MGE Energy is $711MM, an increase of 1.56%. The projected annual non-GAAP EPS is $3.52.
What are Other Shareholders Doing?
Fmr holds 20K shares representing 0.06% ownership of the company. In it's prior filing, the firm reported owning 2K shares, representing an increase of 89.25%. The firm increased its portfolio allocation in MGEE by 853.55% over the last quarter.
JOHN HANCOCK VARIABLE INSURANCE TRUST - Small Company Value Trust NAV holds 25K shares representing 0.07% ownership of the company. In it's prior filing, the firm reported owning 23K shares, representing an increase of 8.74%. The firm increased its portfolio allocation in MGEE by 13.23% over the last quarter.
FZIPX - Fidelity ZERO Extended Market Index Fund holds 9K shares representing 0.02% ownership of the company. In it's prior filing, the firm reported owning 9K shares, representing an increase of 1.47%. The firm increased its portfolio allocation in MGEE by 0.41% over the last quarter.
SMLV - SPDR SSGA US Small Cap Low Volatility Index ETF holds 15K shares representing 0.04% ownership of the company. In it's prior filing, the firm reported owning 15K shares, representing an increase of 4.04%. The firm decreased its portfolio allocation in MGEE by 0.68% over the last quarter.
NATIONWIDE MUTUAL FUNDS - Nationwide Multi-Cap Portfolio Class R6 holds 2K shares representing 0.01% ownership of the company. In it's prior filing, the firm reported owning 2K shares, representing an increase of 0.09%. The firm increased its portfolio allocation in MGEE by 2.27% over the last quarter.
What is the Fund Sentiment?
There are 420 funds or institutions reporting positions in MGE Energy. This is a decrease of 3 owner(s) or 0.71% in the last quarter. Average portfolio weight of all funds dedicated to MGEE is 0.12%, an increase of 4.98%. Total shares owned by institutions decreased in the last three months by 0.92% to 21,192K shares. 
The put/call ratio of MGEE is 0.82, indicating a bullish outlook.
MGE Energy Background Information
(This description is provided by the company.)
MGE Energy is a public utility holding company. Its principal subsidiary, Madison Gas and Electric (MGE), generates and distributes electricity to 155,000 customers in Dane County, Wis., and purchases and distributes natural gas to 163,000 customers in seven south-central and western Wisconsin counties.
See all MGE Energy regulatory filings.This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
