MGE Energy, Inc. (NASDAQ:MGEE) Short Interest Down 18.6% in December

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

Analyst Ratings Changes

MGEE has been the topic of a number of recent research reports. LADENBURG THALM/SH SH upgraded shares of MGE Energy to a “strong sell” rating in a research note on Thursday, December 12th. Morgan Stanley upped their target price on shares of MGE Energy from $71.00 to $74.00 and gave the stock an “underweight” rating in a research note on Wednesday, September 25th.

MGE Energy Stock Down 0.4 %

MGEE traded down $0.35 on Friday, hitting $95.09. 157,094 shares of the company were exchanged, compared to its average volume of 210,301. The firm has a 50-day moving average price of $98.35 and a two-hundred day moving average price of $89.61. The company has a current ratio of 1.41, a quick ratio of 0.94 and a debt-to-equity ratio of 0.60. MGE Energy has a twelve month low of $61.94 and a twelve month high of $109.22. The company has a market cap of $3.44 billion, a price-to-earnings ratio of 29.08 and a beta of 0.74.

MGE Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, December 15th. Stockholders of record on Sunday, December 1st were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend was Friday, November 29th. MGE Energy’s dividend payout ratio is presently 55.05%.

Institutional Trading of MGE Energy

A number of large investors have recently made changes to their positions in the company. Assetmark Inc. purchased a new stake in MGE Energy during the 3rd quarter worth about $35,000. Covestor Ltd boosted its holdings in MGE Energy by 37.3% in the third quarter. Covestor Ltd now owns 453 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 123 shares in the last quarter. Quest Partners LLC increased its stake in MGE Energy by 5,088.9% in the second quarter. Quest Partners LLC now owns 467 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 458 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in MGE Energy during the second quarter worth approximately $58,000. Finally, nVerses Capital LLC purchased a new stake in shares of MGE Energy during the 2nd quarter worth approximately $75,000. 52.58% of the stock is currently owned by hedge funds and other 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.