In this post, we'll be taking a closer look at MGE Energy Inc. (NASDAQ: MGEE), discussing its industry and sector, company profile, and examining its recent technical analysis to determine whether it can be considered a possible runner. So, if you're interested in learning more about this potential investment opportunity, read on!
Shortly about the company:
MGE Energy Inc. (NASDAQ: MGEE) is a public utility holding company that operates primarily in Wisconsin. The company operates through its subsidiaries through Regulated Electric Utility Operations, Regulated Gas Utility Operations, Nonregulated Energy Operations, Transmission Investments, and others.
As of December 31, 2021, MGE Energy Inc. had 159,000 customers in Dane County, Wisconsin, to whom it generated and distributed electricity. And 169,000 customers in seven Wisconsin counties to whom it purchased and distributed natural gas. The company's headquarters are located in Madison, Wisconsin.
MGE Energy Inc. Signals & Forecast: A Possible Runner in the Utilities Sector.
The MGE Energy Inc. (NASDAQ: MGEE) stock holds buy signals from both short and long-term moving averages giving an optimistic forecast for the stock.
Despite the positive signals, there is a general sell signal from the relationship between the short and long-term moving averages, where the long-term average is above the short-term average. However, on corrections down, the stock has support from the lines at $70.96 and $71.49. A breakdown below any of these levels will issue sell signals. Additionally, there is currently a sell signal from the 3-month Moving Average Convergence Divergence (MACD).
It is worth mentioning that the MGE Energy Inc. share price grew by 0.0152% during the last month. The year-to-day performance is negative, which is now -0.593%. Based on the 14-day Average True Range, a possible trading interval is +/-$1.58 (+/-2.19%).
An actual P/E ratio for MGEE is 24.85. Last quarter MGE Energy Inc. had a positive earning of $0.93 per share. The consensus amongst analyst for next quarter is optimistic at $0.660
Our recommended stop-loss is $68.63 or -4.72%. This stock has low daily movements, and this gives low risk. There is a buy signal from a pivot bottom found one day ago.
While there are some negative signals to consider, the rising volume and price indicate a good technical signal. Investors should keep an eye on the developments of MGE Energy Inc. stock, as it may be a possible runner.
Find out more in our full analysis here. As always, please keep in mind that trading involves a high risk of losing money and that you should speak with a financial advisor before making any investment decisions. The information provided on StockInvest.us should not be the sole basis for your investment decisions, and any use of the information provided is at your own risk.