MGE Energy, Inc. (NASDAQ:MGEE) Short Interest Down 27.0% in January

MGE Energy, Inc. (NASDAQ:MGEE) saw a significant decline in short interest during the month of January. As of January 31st, there was short interest totalling 993,200 shares, a decline 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 days-to-cover ratio is presently 5.5 days.

Hedge Funds Weigh In On MGE Energy

Institutional investors have recently added to or reduced their stakes in the business. Hotchkis & Wiley Capital Management LLC acquired a new stake in MGE Energy during the third quarter worth about $11,765,000. JPMorgan Chase & Co. increased its stake in MGE Energy by 145.0% during the fourth quarter. JPMorgan Chase & Co. now owns 146,008 shares of the utilities provider’s stock worth $13,719,000 after acquiring an additional 86,423 shares during the last quarter. Susquehanna International Group LLP increased its stake in MGE Energy by 307.8% during the fourth quarter. Susquehanna International Group LLP now owns 78,843 shares of the utilities provider’s stock worth $7,408,000 after acquiring an additional 59,510 shares during the last quarter. Barclays PLC increased its stake in MGE Energy by 345.8% during the third quarter. Barclays PLC now owns 62,308 shares of the utilities provider’s stock worth $5,697,000 after acquiring an additional 48,330 shares during the last quarter. Finally, Great Lakes Advisors LLC acquired a new stake in MGE Energy during the fourth quarter worth about $4,210,000. 52.58% of the stock is currently owned by institutional investors and hedge funds.

MGE Energy Trading Up 0.2 %

MGE Energy stock traded up $0.22 during trading on Friday, hitting $90.68. The company’s stock had a trading volume of 4,249 shares, compared to its average volume of 183,335. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of 27.82 and a beta of 0.76. The stock’s fifty day moving average is $92.58 and its 200 day moving average is $92.44. MGE Energy has a 1-year low of $61.94 and a 1-year high of $109.22. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.94 and a current ratio of 1.41.

MGE Energy Announces Dividend

The firm also recently announced 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 of this dividend is Friday, February 28th. This represents a $1.80 annualized dividend and a yield of 1.99%. MGE Energy’s payout ratio is currently 55.05%.

Analyst Ratings Changes

Separately, LADENBURG THALM/SH SH raised MGE Energy to a “strong sell” rating in a report 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.