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

MGE Energy, Inc. (NASDAQ:MGEE - Get Free Report) saw a significant drop in short interest in January. As of January 31st, there was short interest totalling 993,200 shares, a drop of 27.0% from the January 15th total of 1,360,000 shares. Based on an average 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 short sold.

MGE Energy Stock Performance

MGEE traded up $1.00 on Tuesday, reaching $90.44. The stock had a trading volume of 77,342 shares, compared to its average volume of 181,888. The business's 50-day moving average price is $91.97 and its two-hundred day moving average price is $92.55. The company has a market cap of $3.27 billion, a P/E ratio of 27.66 and a beta of 0.76. MGE Energy has a 12-month low of $61.94 and a 12-month high of $109.22. 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 Dividend Announcement

The firm also recently declared 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 dividend yield of 1.99%. MGE Energy's dividend payout ratio is presently 55.05%.

Hedge Funds Weigh In On MGE Energy

A number of large investors have recently bought and sold shares of MGEE. Alpine Global Management LLC purchased a new stake in shares of MGE Energy in the fourth quarter valued at approximately $797,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in MGE Energy by 0.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 72,893 shares of the utilities provider's stock valued at $6,849,000 after buying an additional 567 shares in the last quarter. Vident Advisory LLC boosted its holdings in MGE Energy by 4.9% in the 4th quarter. Vident Advisory LLC now owns 8,309 shares of the utilities provider's stock worth $781,000 after buying an additional 389 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in MGE Energy during the 4th quarter worth approximately $1,303,000. Finally, Twinbeech Capital LP purchased a new position in shares of MGE Energy in the fourth quarter valued at approximately $209,000. Institutional investors and hedge funds own 52.58% of the company's stock.

Wall Street Analyst Weigh In

Separately, LADENBURG THALM/SH SH upgraded MGE Energy to a "strong sell" rating in a research report on Thursday, December 12th.

MGE Energy Company Profile

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.