Short Interest in MGE Energy, Inc. (NASDAQ:MGEE) Decreases By 18.6%

MGE Energy, Inc. (NASDAQ:MGEE) saw a large decrease in short interest during the month of December. As of December 15th, there was short interest totalling 1,310,000 shares, a decrease of 18.6% from the November 30th total of 1,610,000 shares. Currently, 3.6% of the shares of the stock are short sold. Based on an average trading volume of 132,100 shares, the days-to-cover ratio is currently 9.9 days.

MGE Energy Stock Performance

MGEE traded down $0.71 on Monday, hitting $94.38. The company had a trading volume of 81,602 shares, compared to its average volume of 209,788. The stock has a market cap of $3.42 billion, a price-to-earnings ratio of 28.86 and a beta of 0.74. 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 company’s fifty day moving average price is $98.35 and its 200 day moving average price is $89.70. MGE Energy has a 1-year low of $61.94 and a 1-year high of $109.22.

MGE Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date was Friday, November 29th. MGE Energy’s payout ratio is 55.05%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. LADENBURG THALM/SH SH raised shares of MGE Energy to a “strong sell” rating in a research note on Thursday, December 12th. Morgan Stanley increased their target price on shares of MGE Energy from $71.00 to $74.00 and gave the stock an “underweight” rating in a research report on Wednesday, September 25th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Covestor Ltd boosted its holdings in MGE Energy by 37.3% during the third quarter. Covestor Ltd now owns 453 shares of the utilities provider’s stock valued at $42,000 after acquiring an additional 123 shares during the period. Bank of Montreal Can increased its holdings in shares of MGE Energy by 1.6% during the 2nd quarter. Bank of Montreal Can now owns 9,149 shares of the utilities provider’s stock worth $705,000 after purchasing an additional 140 shares during the period. Inspire Investing LLC raised its position in shares of MGE Energy by 3.2% during the second quarter. Inspire Investing LLC now owns 4,702 shares of the utilities provider’s stock valued at $351,000 after buying an additional 144 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of MGE Energy by 1.9% in the second quarter. Arizona State Retirement System now owns 10,126 shares of the utilities provider’s stock valued at $757,000 after buying an additional 187 shares during the period. Finally, Exchange Traded Concepts LLC raised its holdings in MGE Energy by 1.1% in the 3rd quarter. Exchange Traded Concepts LLC now owns 19,636 shares of the utilities provider’s stock valued at $1,796,000 after acquiring an additional 217 shares in the last quarter. 52.58% of the stock is currently owned by institutional investors and hedge funds.

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.