MGE Energy Inc. (NASDAQ:MGEE) Short Interest Down 22.2% in March

Key Points

• Short interest down 22.2%: Short interest fell to 478,227 shares as of March 31, a 22.2% decline from mid‑March, equal to 1.3% of shares outstanding and a days‑to‑cover ratio of 1.5.
• Insider and institutional moves: Director James G. Berbee purchased 373 shares (a 4.15% increase in his stake) and insiders own 0.41% of the stock, while hedge funds and institutions hold 52.58% after several firms modestly raised their positions.
• Valuation, dividend and analyst view: MGE trades around $79.89 with a $2.94B market cap and 21.48 P/E, pays a $0.475 quarterly dividend (2.4% yield), and carries a MarketBeat consensus rating of "Reduce" with a $78 target.

MGE Energy Inc. (NASDAQ:MGEE - Get Free Report) was the target of a large decrease in short interest in the month of March. As of March 31st, there was short interest totaling 478,227 shares, a decrease of 22.2% from the March 15th total of 614,660 shares. Based on an average daily volume of 324,714 shares, the days-to-cover ratio is currently 1.5 days. Currently, 1.3% of the shares of the stock are sold short.

Insider Buying and Selling at MGE Energy

In related news, Director James G. Berbee purchased 373 shares of the stock in a transaction dated Wednesday, March 11th. The shares were acquired at an average cost of $77.74 per share, with a total value of $28,997.02. Following the purchase, the director directly owned 9,362 shares in the company, valued at $727,801.88. This trade represents a 4.15% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.41% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MGE Energy

Several institutional investors and hedge funds have recently made changes to their positions in MGEE. Geode Capital Management LLC lifted its holdings in MGE Energy by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 921,952 shares of the utilities provider's stock valued at $72,315,000 after purchasing an additional 3,692 shares in the last quarter. First Trust Advisors LP lifted its holdings in MGE Energy by 2.3% in the 3rd quarter. First Trust Advisors LP now owns 511,382 shares of the utilities provider's stock valued at $43,048,000 after purchasing an additional 11,432 shares in the last quarter. Invesco Ltd. lifted its holdings in MGE Energy by 14.3% in the 2nd quarter. Invesco Ltd. now owns 238,747 shares of the utilities provider's stock valued at $21,115,000 after purchasing an additional 29,811 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in MGE Energy by 9.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 216,173 shares of the utilities provider's stock valued at $16,952,000 after purchasing an additional 18,877 shares in the last quarter. Finally, Speece Thorson Capital Group Inc. lifted its holdings in MGE Energy by 44.3% in the 4th quarter. Speece Thorson Capital Group Inc. now owns 195,596 shares of the utilities provider's stock valued at $15,339,000 after purchasing an additional 60,037 shares in the last quarter. 52.58% of the stock is currently owned by hedge funds and other institutional investors.

MGE Energy Price Performance

MGE Energy stock opened at $79.89 on Wednesday. MGE Energy has a 52 week low of $72.17 and a 52 week high of $94.00. The company has a quick ratio of 0.55, a current ratio of 0.77 and a debt-to-equity ratio of 0.61. The firm's 50-day simple moving average is $78.84 and its 200 day simple moving average is $80.48. The firm has a market capitalization of $2.94 billion, a PE ratio of 21.48 and a beta of 0.79.

MGE Energy (NASDAQ:MGEE - Get Free Report) last released its quarterly earnings data on Tuesday, February 24th. The utilities provider reported $0.64 EPS for the quarter, hitting the consensus estimate of $0.64. MGE Energy had a net margin of 18.27% and a return on equity of 10.60%. The business had revenue of $189.55 million for the quarter. On average, equities research analysts predict that MGE Energy will post 3.43 EPS for the current fiscal year.

MGE Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, March 15th. Investors of record on Sunday, March 1st were given a $0.475 dividend. The ex-dividend date was Friday, February 27th. This represents a $1.90 annualized dividend and a dividend yield of 2.4%. MGE Energy's payout ratio is currently 51.08%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of MGE Energy in a research note on Monday, December 29th. Morgan Stanley lowered their price target on shares of MGE Energy from $74.00 to $73.00 and set an "underweight" rating on the stock in a research note on Monday, February 2nd. Finally, Wall Street Zen raised shares of MGE Energy from a "sell" rating to a "hold" rating in a research note on Sunday, March 8th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus target price of $78.00.

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.

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