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

MGE Energy Inc. (NASDAQ:MGEE) announced a quarterly dividend on Friday, August 21st. Investors 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) annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend 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 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 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 Stock Performance

NASDAQ MGEE opened at $78.15 on Friday. 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 twelve month low of $72.16 and a twelve month high of $87.94. The stock has a 50-day moving average of $80.77 and a 200 day moving average of $78.80. The stock has a market capitalization of $2.95 billion, a price-to-earnings ratio of 19.20 and a beta of 0.71.

MGE Energy (NASDAQ:MGEE) last issued its quarterly earnings results on Wednesday, August 5th. The utilities provider reported $0.89 EPS for the quarter, topping the consensus estimate 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 net margin of 19.45% and a return on equity of 11.10%. Sell-side analysts anticipate that MGE Energy will post 3.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. LADENBURG THALM/SH SH upgraded MGE Energy from a “neutral” rating to a “buy” rating and set a $81.00 price objective on the stock in a report on Monday, June 8th. Weiss Ratings reissued a “hold (c)” rating on shares of MGE Energy in a report on Wednesday, August 5th. Finally, Morgan Stanley decreased their target price on MGE Energy from $76.00 to $74.00 and set an “underweight” rating on the stock in a research report on Friday, August 21st. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $77.50.

MGE Energy Company Profile

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.