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

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

MGE Energy Stock Performance

NASDAQ MGEE traded down $1.02 on Friday, reaching $89.44. The stock had a trading volume of 64,831 shares, 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 fifty day moving average of $92.36 and a two-hundred day moving average of $92.53. MGE Energy has a 1-year low of $61.94 and a 1-year high of $109.22. The company has a market cap of $3.24 billion, a P/E ratio of 27.35 and a beta of 0.76.

MGE Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders 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 55.05%.

Wall Street Analysts Forecast Growth

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

Institutional Trading of MGE Energy

Institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its position in shares of MGE Energy by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 425,461 shares of the utilities provider’s stock valued at $38,908,000 after acquiring an additional 8,629 shares during the period. Royce & Associates LP lifted its position in shares of MGE Energy by 155.4% during the 3rd quarter. Royce & Associates LP now owns 11,668 shares of the utilities provider’s stock worth $1,067,000 after buying an additional 7,099 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of MGE Energy during the 3rd quarter worth $584,000. JPMorgan Chase & Co. lifted its position in shares of MGE Energy by 16.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 59,585 shares of the utilities provider’s stock worth $5,449,000 after buying an additional 8,233 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its position in shares of MGE Energy by 9,042.4% during the 3rd quarter. International Assets Investment Management LLC now owns 21,759 shares of the utilities provider’s stock worth $1,990,000 after buying an additional 21,521 shares during the last quarter. 52.58% of the stock is currently owned by institutional investors.

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.