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

MGE Energy Inc. (NASDAQ:MGEE) was the recipient of a large growth in short interest in May. As of May 15th, there was short interest totaling 1,533,881 shares, a growth of 225.6% from the April 30th total of 471,132 shares. Currently, 4.2% of the shares of the stock are short sold. Based on an average daily volume of 440,425 shares, the short-interest ratio is currently 3.5 days.

Analyst Ratings Changes

Several research firms have weighed in on MGEE. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MGE Energy in a report on Friday, May 8th. Wall Street Zen upgraded MGE Energy from a “sell” rating to a “hold” rating in a research report on Sunday, March 8th. Finally, Morgan Stanley reiterated an “underweight” rating and set a $70.00 price target on shares of MGE Energy in a research report on Thursday, May 21st. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, MGE Energy presently has an average rating of “Reduce” and an average price target of $76.50.

MGE Energy Price Performance

Shares of NASDAQ:MGEE traded down $0.10 during trading on Friday, reaching $75.50. The company had a trading volume of 427,469 shares, compared to its average volume of 379,935. The company has a fifty day moving average of $77.42 and a two-hundred day moving average of $78.97. The stock has a market capitalization of $2.78 billion, a P/E ratio of 19.36 and a beta of 0.76. MGE Energy has a 12 month low of $72.17 and a 12 month high of $91.49. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 0.65.

MGE Energy (NASDAQ:MGEE) last issued its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.19. MGE Energy had a net margin of 18.61% and a return on equity of 10.94%. The firm had revenue of $242.70 million for the quarter, compared to analyst estimates of $227.06 million. Equities research analysts forecast that MGE Energy will post 3.94 earnings per share for the current year.

MGE Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be paid a dividend of $0.475 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.90 annualized dividend and a yield of 2.5%. MGE Energy’s payout ratio is 48.72%.

Insider Activity at MGE Energy

In other news, Director James G. Berbee purchased 373 shares of MGE Energy stock in a transaction dated Wednesday, March 11th. The stock was purchased at an average cost of $77.74 per share, for a total transaction of $28,997.02. Following the transaction, the director directly owned 9,362 shares of the company’s stock, valued at approximately $727,801.88. This trade represents a 4.15% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.41% of the stock is owned by company insiders.

Institutional Investors Weigh In On MGE Energy

Several hedge funds have recently added to or reduced their stakes in the company. Arizona State Retirement System boosted its holdings in shares of MGE Energy by 1.3% during the 3rd quarter. Arizona State Retirement System now owns 10,769 shares of the utilities provider’s stock valued at $907,000 after buying an additional 133 shares in the last quarter. Glenmede Trust Co. NA boosted its stake in MGE Energy by 3.5% during the first quarter. Glenmede Trust Co. NA now owns 4,356 shares of the utilities provider’s stock worth $337,000 after acquiring an additional 148 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in MGE Energy by 1.5% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 10,300 shares of the utilities provider’s stock worth $862,000 after acquiring an additional 153 shares in the last quarter. Parallel Advisors LLC boosted its stake in MGE Energy by 28.6% during the third quarter. Parallel Advisors LLC now owns 714 shares of the utilities provider’s stock worth $60,000 after acquiring an additional 159 shares in the last quarter. Finally, LPL Financial LLC boosted its stake in MGE Energy by 0.8% during the fourth quarter. LPL Financial LLC now owns 21,178 shares of the utilities provider’s stock worth $1,661,000 after acquiring an additional 159 shares in the last quarter. Institutional investors own 52.58% of the company’s stock.

MGE Energy Company Profile

MGE Energy, Inc is a public utility holding company headquartered in Madison, Wisconsin. Through its principal subsidiary, Madison Gas and Electric Company (MGE), the company provides regulated electric and natural gas distribution services to residential, commercial and industrial customers in south-central Wisconsin. MGE Energy’s operations encompass the generation, transmission and distribution of electricity as well as the purchase and distribution of natural gas, with an emphasis on reliable service and system resilience.

Since reorganizing as a holding company in 2001, MGE Energy has expanded its portfolio to include nonregulated subsidiaries involved in renewable energy development, energy services and infrastructure support.