MGE Energy, Inc. Declares Quarterly Dividend of $0.43 (NASDAQ:MGEE)

MGE Energy, Inc. (NASDAQ:MGEE) announced a quarterly dividend on Tuesday, May 21st, Zacks reports. Investors of record on Saturday, June 1st will be paid a dividend of 0.428 per share by the utilities provider on Saturday, June 15th. This represents a $1.71 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date is Friday, May 31st.

MGE Energy has raised its dividend by an average of 4.9% per year over the last three years and has increased its dividend annually for the last 48 consecutive years. MGE Energy has a payout ratio of 42.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect MGE Energy to earn $4.03 per share next year, which means the company should continue to be able to cover its $1.71 annual dividend with an expected future payout ratio of 42.4%.

MGE Energy Stock Down 2.4 %

Shares of MGE Energy stock opened at $80.31 on Thursday. The company has a quick ratio of 1.09, a current ratio of 1.59 and a debt-to-equity ratio of 0.62. MGE Energy has a 12 month low of $61.94 and a 12 month high of $83.27. The business has a fifty day simple moving average of $78.21 and a 200 day simple moving average of $73.31. The stock has a market cap of $2.91 billion, a PE ratio of 24.19 and a beta of 0.72.

MGE Energy (NASDAQ:MGEE) last announced its quarterly earnings data on Wednesday, February 21st. The utilities provider reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.06). MGE Energy had a return on equity of 10.60% and a net margin of 18.12%. The company had revenue of $164.65 million for the quarter, compared to analyst estimates of $190.55 million. Research analysts predict that MGE Energy will post 3.69 EPS for the current year.

Insiders Place Their Bets

In other MGE Energy news, Director James G. Berbee bought 458 shares of MGE Energy stock in a transaction on Wednesday, March 6th. The shares were purchased at an average cost of $82.16 per share, for a total transaction of $37,629.28. Following the completion of the acquisition, the director now owns 9,725 shares in the company, valued at approximately $799,006. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on MGEE shares. TheStreet cut MGE Energy from a “b” rating to a “c+” rating in a research note on Tuesday, January 30th. StockNews.com upgraded MGE Energy from a “sell” rating to a “hold” rating in a report on Monday.

MGE Energy Company Profile

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.