MGE Energy Inc. (MGEE) To Go Ex-Dividend on September 1st

MGE Energy Inc. (NASDAQ:MGEE) declared a quarterly dividend on Friday, August 21st. Shareholders of record on Tuesday, September 1st will be paid a dividend of 0.5083 per share by the utilities provider on Tuesday, September 15th. This represents a c) annualized dividend and a 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 raised its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 49 consecutive years. MGE Energy has a dividend payout ratio of 51.7% meaning its dividend is sufficiently covered by earnings. 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%

NASDAQ:MGEE opened at $78.15 on Friday. The company has a 50-day moving average price of $80.77 and a 200-day moving average price of $78.80. The stock has a market cap of $2.95 billion, a price-to-earnings ratio of 19.20 and a beta of 0.71. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.61. MGE Energy has a 12 month low of $72.16 and a 12 month high of $87.94.

MGE Energy (NASDAQ:MGEE) last announced its quarterly earnings results on Wednesday, August 5th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.12. MGE Energy had a net margin of 19.45% and a return on equity of 11.10%. The company had revenue of $161.19 million for the quarter, compared to analysts’ expectations of $166.37 million. Equities analysts predict 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.