MGE Energy, Inc. (NASDAQ:MGEE) Short Interest Update

MGE Energy, Inc. (NASDAQ:MGEE) saw a large decrease in short interest during the month of January. As of January 31st, there was short interest totalling 993,200 shares, a decrease of 27.0% from the January 15th total of 1,360,000 shares. Currently, 2.8% of the shares of the stock are sold short. Based on an average trading volume of 181,200 shares, the short-interest ratio is currently 5.5 days.

MGE Energy Trading Down 1.1 %

Shares of NASDAQ:MGEE traded down $1.02 during mid-day trading on Friday, reaching $89.44. 64,831 shares of the company were exchanged, compared to its average volume of 207,150. 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 firm has a market cap of $3.24 billion, a price-to-earnings ratio of 27.35 and a beta of 0.76. The firm’s 50-day simple moving average is $92.36 and its 200 day simple moving average is $92.50. MGE Energy has a 1 year low of $61.94 and a 1 year high of $109.22.

MGE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 15th. Investors of record on Saturday, March 1st will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.01%. MGE Energy’s payout ratio is currently 55.05%.

Wall Street Analyst Weigh In

Separately, LADENBURG THALM/SH SH upgraded shares of MGE Energy to a “strong sell” rating in a report on Thursday, December 12th.

Hedge Funds Weigh In On MGE Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Creative Planning raised its holdings in shares of MGE Energy by 3.4% in the 3rd quarter. Creative Planning now owns 8,517 shares of the utilities provider’s stock valued at $779,000 after purchasing an additional 284 shares in the last quarter. Everence Capital Management Inc. boosted its holdings in MGE Energy by 49.2% during the third quarter. Everence Capital Management Inc. now owns 4,820 shares of the utilities provider’s stock worth $441,000 after buying an additional 1,590 shares in the last quarter. International Assets Investment Management LLC raised its position in MGE Energy by 9,042.4% during the third quarter. International Assets Investment Management LLC now owns 21,759 shares of the utilities provider’s stock worth $1,990,000 after acquiring an additional 21,521 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of MGE Energy by 2.7% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 11,007 shares of the utilities provider’s stock valued at $1,007,000 after buying an additional 290 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV increased its position in MGE Energy by 4.1% during the third quarter. Creative Financial Designs Inc. ADV now owns 7,819 shares of the utilities provider’s stock worth $715,000 after purchasing an additional 307 shares during the last quarter. Hedge funds and other institutional investors own 52.58% of the company’s stock.

About MGE Energy

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.