MGE Energy Inc. (NASDAQ:MGEE) Raises Dividend to $0.51 Per Share

MGE Energy Inc. (NASDAQ:MGEE) announced a quarterly dividend on Friday, August 21st. Stockholders of record on Tuesday, September 1st will be given a dividend of 0.5083 per share by the utilities provider on Tuesday, September 15th. This represents a c) dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Tuesday, September 1st. This is a 7.0% increase from MGE Energy’s previous quarterly dividend of $0.47.

MGE Energy has increased its dividend by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 49 years. MGE Energy has a payout ratio of 51.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect MGE Energy to earn $4.31 per share next year, which means the company should continue to be able to cover its $2.03 annual dividend with an expected future payout ratio of 47.1%.

MGE Energy Trading Down 0.3%

MGE Energy stock opened at $78.15 on Friday. MGE Energy has a 52 week low of $72.16 and a 52 week high of $87.94. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.79 and a current ratio of 1.14. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of 19.20 and a beta of 0.71. The company has a 50 day moving average price of $80.77 and a 200 day moving average price of $78.80.

MGE Energy (NASDAQ:MGEE) last released its earnings results on Wednesday, August 5th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.12. The company had revenue of $161.19 million during the quarter, compared to analyst estimates of $166.37 million. MGE Energy had a return on equity of 11.10% and a net margin of 19.45%. Research analysts forecast that MGE Energy will post 3.99 EPS for the current year.

About MGE Energy

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.