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Madison Gas & Electric Touts Wind Power Program, Reassures Investors.(Knight Ridder/Tribune Business News)
Knight Ridder/Tribune Business News, May, 2000 by Newman, Judy
May 10-- Madison Gas and Electric Co. officials touted the company's wind power program and sought to reassure investors about its slipping stock price as they faced more than 1,800 shareholders at the company's annual meeting Tuesday.
When interest rates go up, as they have in the past year, utility stock prices generally go down, said Gary Wolter, who took over as president and chief executive officer Feb. 1.
"It's a market where money is flowing from companies that make money to those that haven't made a profit," Wolter said.
MGE stock closed Monday at $18.25, down 25 cents. That's a 7.6 percent drop, so far this year, from the Jan. 3 price of $19.75 a share.
But with some of America's wealthiest men turning to utility stocks,...
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