MGE Energy, Inc. (NASDAQ: MGEE) announced a quarterly dividend on Friday, October 15, Zack reports. Shareholders of record on Wednesday December 1 will receive a dividend of 0.387 per share from the utility provider on Wednesday December 15. This represents a dividend of $ 1.55 on an annualized basis and a return of 2.06%. The ex-dividend date for this dividend is Tuesday, November 30.
MGE Energy has increased its dividend by 14.7% over the past three years and has increased its dividend annually for the past 7 consecutive years. MGE Energy has a payout ratio of 50.3% indicating that its dividend is sufficiently covered by earnings. Equity research analysts expect MGE Energy to earn $ 3.08 per share next year, which means the company should continue to be able to cover its annual dividend of $ 1.55. with an expected future payout rate of 50.3%.
Actions of NASDAQ: MGEE opened for $ 75.03 on Friday. The stock has a market cap of $ 2.71 billion, a price-to-earnings ratio of 24.93, a PEG ratio of 4.34 and a beta of 0.61. The company has a quick ratio of 1.49, a current ratio of 1.89, and a debt ratio of 0.62. MGE Energy has a 12-month low of $ 63.00 and a 12-month high of $ 82.95. The company’s 50-day moving average is $ 76.02 and its 200-day moving average is $ 76.91.
MGE Energy (NASDAQ: MGEE) last reported its results on Thursday, November 4. The utility provider reported earnings per share (EPS) of $ 0.97 for the quarter, beating Thomson Reuters’ consensus estimate of $ 0.92 of $ 0.05. The company reported sales of $ 145.87 million for the quarter. MGE Energy achieved a return on equity of 10.82% and a net margin of 18.67%. As a group, equity research analysts predict that MGE Energy will post 3 earnings per share for the current year.
A number of institutional investors have recently changed their holdings in MGEE. Morgan Stanley increased its stake in MGE Energy by 67.9% during the second quarter. Morgan Stanley now owns 119,238 shares of the utility company valued at $ 8,877,000 after acquiring an additional 48,210 shares during the period. Citadel Advisors LLC purchased a new equity stake in MGE Energy in the third quarter valued at $ 304,000. Janus Henderson Group PLC purchased a new equity stake in MGE Energy in the third quarter valued at $ 268,000. UBS Group AG increased its stake in MGE Energy shares by 15.2% in the third quarter. UBS Group AG now owns 18,386 shares of the utility provider valued at $ 1,351,000 after purchasing an additional 2,425 shares during the period. Finally, the Royal Bank of Canada increased its stake in MGE Energy shares by 22.5% in the third quarter. Royal Bank of Canada now owns 12,492 shares of the utility company valued at $ 918,000 after purchasing an additional 2,291 shares during the period. Institutional investors and hedge funds hold 49.89% of the company’s shares.
Several research analysts recently published reports on the company. Zacks investment research upgraded MGE Energy from a “buy” rating to a “conservation” rating in a research report published on Thursday, October 21. Morgan Stanley downgraded MGE Energy from an ‘on par’ to an ‘underweight’ rating and lowered its target price for the share from $ 71.00 to $ 69.00 in a report released on Wednesday November 17.
MGE Energy Company Profile
MGE Energy, Inc provides natural gas and electricity services. The company operates in the following segments: Regulated Electric Utilities Operations, Regulated Gas Utilities Operations, Unregulated Energy Operations, Transportation Investments and all others. The Regulated Electric Utility Operations segment is engaged in the generation, purchase and distribution of electricity.
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