MGE Energy Inc. (NASDAQ:MGEE) Announces Quarterly Dividend of $0.48

MGE Energy Inc. (NASDAQ:MGEE) declared a quarterly dividend on Friday, October 17th. Shareholders of record on Monday, December 1st will be given a dividend of 0.475 per share by the utilities provider on Monday, December 15th. This represents a c) dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Monday, December 1st.

MGE Energy has increased its dividend by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 49 years. MGE Energy has a payout ratio of 48.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect MGE Energy to earn $3.84 per share next year, which means the company should continue to be able to cover its $1.90 annual dividend with an expected future payout ratio of 49.5%.

MGE Energy Stock Up 0.1%

Shares of NASDAQ MGEE opened at $82.80 on Friday. MGE Energy has a 1 year low of $80.67 and a 1 year high of $105.81. The firm’s 50-day moving average is $83.70 and its 200-day moving average is $85.93. The company has a current ratio of 1.80, a quick ratio of 1.20 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $3.03 billion, a PE ratio of 23.00 and a beta of 0.81.

MGE Energy (NASDAQ:MGEE) last announced its quarterly earnings data on Wednesday, November 5th. The utilities provider reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.03. MGE Energy had a net margin of 18.24% and a return on equity of 10.58%. The business had revenue of $175.68 million for the quarter. Equities analysts expect that MGE Energy will post 3.43 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in MGE Energy in the first quarter valued at about $471,000. Cetera Investment Advisers grew its position in shares of MGE Energy by 7.0% in the 1st quarter. Cetera Investment Advisers now owns 29,173 shares of the utilities provider’s stock valued at $2,712,000 after purchasing an additional 1,905 shares during the period. LPL Financial LLC grew its position in shares of MGE Energy by 4.5% in the 1st quarter. LPL Financial LLC now owns 24,305 shares of the utilities provider’s stock valued at $2,259,000 after purchasing an additional 1,038 shares during the period. XTX Topco Ltd bought a new stake in MGE Energy during the 1st quarter worth approximately $306,000. Finally, Deutsche Bank AG raised its holdings in MGE Energy by 35.4% during the 1st quarter. Deutsche Bank AG now owns 41,471 shares of the utilities provider’s stock worth $3,855,000 after buying an additional 10,850 shares during the period. 52.58% of the stock is currently owned by 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.