MGE Energy, Inc. (NASDAQ:MGEE) Announces $0.45 Quarterly Dividend

MGE Energy, Inc. (NASDAQ:MGEE) announced a quarterly dividend on Tuesday, May 20th, RTT News reports. Investors of record on Sunday, June 1st will be given a dividend of 0.45 per share by the utilities provider on Sunday, June 15th. This represents a $1.80 dividend on an annualized basis and a yield of 1.94%.

MGE Energy has increased its dividend by an average of 5.0% annually over the last three years and has increased its dividend every year for the last 49 years. MGE Energy has a payout ratio of 45.8% meaning 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 $1.80 annual dividend with an expected future payout ratio of 46.9%.

MGE Energy Stock Down 0.5%

Shares of NASDAQ:MGEE traded down $0.51 during trading on Tuesday, hitting $92.97. 19,694 shares of the company’s stock traded hands, compared to its average volume of 138,825. The company has a 50-day moving average price of $90.89 and a 200-day moving average price of $93.51. MGE Energy has a 52 week low of $72.27 and a 52 week high of $109.22. The company has a market cap of $3.40 billion, a price-to-earnings ratio of 28.45 and a beta of 0.80. The company has a current ratio of 1.41, a quick ratio of 0.94 and a debt-to-equity ratio of 0.60.

MGE Energy (NASDAQ:MGEE) last posted its quarterly earnings results on Wednesday, May 7th. The utilities provider reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.16. MGE Energy had a return on equity of 10.18% and a net margin of 17.70%. The firm had revenue of $218.97 million during the quarter, compared to the consensus estimate of $202.42 million. As a group, research analysts forecast that MGE Energy will post 3.43 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director James G. Berbee purchased 446 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average price of $90.83 per share, for a total transaction of $40,510.18. Following the completion of the acquisition, the director now owns 11,532 shares of the company’s stock, valued at $1,047,451.56. This represents a 4.02% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is currently owned by corporate insiders.

Institutional Trading of MGE Energy

Institutional investors have recently added to or reduced their stakes in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in MGE Energy by 18.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 86,608 shares of the utilities provider’s stock worth $8,051,000 after buying an additional 13,715 shares during the last quarter. Jane Street Group LLC lifted its holdings in shares of MGE Energy by 718.5% during the first quarter. Jane Street Group LLC now owns 75,007 shares of the utilities provider’s stock valued at $6,973,000 after purchasing an additional 65,843 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in MGE Energy by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,707 shares of the utilities provider’s stock valued at $2,018,000 after acquiring an additional 954 shares during the period. AQR Capital Management LLC raised its stake in shares of MGE Energy by 18.8% in the first quarter. AQR Capital Management LLC now owns 8,275 shares of the utilities provider’s stock worth $769,000 after buying an additional 1,312 shares during the period. Finally, United Services Automobile Association bought a new position in shares of MGE Energy in the first quarter worth about $220,000. Hedge funds and other institutional investors own 52.58% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on MGEE shares. Morgan Stanley reissued an “underweight” rating on shares of MGE Energy in a report on Wednesday, April 23rd. LADENBURG THALM/SH SH upgraded shares of MGE Energy to a “strong sell” rating in a research report on Friday, May 9th.

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.