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

MGE Energy, Inc. (NASDAQ:MGEE) was the recipient of a significant 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. Approximately 2.8% of the company’s shares are sold short. Based on an average daily trading volume, of 181,200 shares, the days-to-cover ratio is currently 5.5 days.

Institutional Trading of MGE Energy

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Creative Planning increased its position in shares of MGE Energy by 3.4% during the third quarter. Creative Planning now owns 8,517 shares of the utilities provider’s stock worth $779,000 after purchasing an additional 284 shares in the last quarter. Everence Capital Management Inc. increased its position in shares of 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 purchasing an additional 1,590 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of 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 purchasing an additional 21,521 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of MGE Energy by 2.7% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 11,007 shares of the utilities provider’s stock worth $1,007,000 after purchasing an additional 290 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV increased its position in shares of 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 in the last quarter. Institutional investors own 52.58% of the company’s stock.

MGE Energy Trading Down 1.1 %

NASDAQ:MGEE traded down $1.02 during midday trading on Friday, hitting $89.44. The stock had a trading volume of 64,831 shares, compared to its average volume of 207,150. MGE Energy has a one year low of $61.94 and a one year high of $109.22. The company has a market capitalization of $3.24 billion, a price-to-earnings ratio of 27.35 and a beta of 0.76. The stock has a 50-day moving average of $92.36 and a 200 day moving average of $92.50. The company has a quick ratio of 0.94, a current ratio of 1.41 and a debt-to-equity ratio of 0.60.

MGE Energy Dividend Announcement

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

Analyst Ratings Changes

Separately, LADENBURG THALM/SH SH raised MGE Energy to a “strong sell” rating in a research note on Thursday, December 12th.

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.