Royce & Associates LP Grows Stock Position in MGE Energy Inc. (NASDAQ:MGEE)

Key Points

• Royce & Associates LP significantly increased its holdings in MGE Energy by 31.5% during the first quarter, owning approximately 21,404 shares valued at $1,990,000.
• MGE Energy reported an earnings per share (EPS) of $1.14 for the latest quarter, exceeding analysts' expectations of $0.98, with revenue of $218.97 million.
• The company recently declared a quarterly dividend of $0.45, amounting to an annual yield of 2.12% based on a payout ratio of 50.85%.

Royce & Associates LP boosted its stake in shares of MGE Energy Inc. (NASDAQ:MGEE - Free Report) by 31.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,404 shares of the utilities provider's stock after buying an additional 5,123 shares during the quarter. Royce & Associates LP owned approximately 0.06% of MGE Energy worth $1,990,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Creative Financial Designs Inc. ADV lifted its stake in shares of MGE Energy by 1.8% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 7,215 shares of the utilities provider's stock valued at $671,000 after purchasing an additional 126 shares during the period. Xponance Inc. lifted its stake in shares of MGE Energy by 5.1% in the 1st quarter. Xponance Inc. now owns 2,725 shares of the utilities provider's stock valued at $253,000 after purchasing an additional 131 shares during the period. EnRich Financial Partners LLC lifted its stake in shares of MGE Energy by 8.7% in the 4th quarter. EnRich Financial Partners LLC now owns 1,744 shares of the utilities provider's stock valued at $164,000 after purchasing an additional 139 shares during the period. Summit Investment Advisors Inc. lifted its stake in shares of MGE Energy by 4.7% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,814 shares of the utilities provider's stock valued at $358,000 after purchasing an additional 172 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of MGE Energy by 5.4% in the 1st quarter. GAMMA Investing LLC now owns 4,908 shares of the utilities provider's stock valued at $456,000 after purchasing an additional 251 shares during the period. 52.58% of the stock is owned by institutional investors and hedge funds.

MGE Energy Stock Down 0.1%

Shares of MGEE stock traded down $0.12 during trading hours on Friday, reaching $84.82. The company had a trading volume of 37,577 shares, compared to its average volume of 149,310. MGE Energy Inc. has a 12 month low of $82.21 and a 12 month high of $109.22. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.07 and a quick ratio of 1.49. The business has a fifty day simple moving average of $88.16 and a 200-day simple moving average of $89.88. The company has a market cap of $3.10 billion, a price-to-earnings ratio of 23.94 and a beta of 0.76.

MGE Energy (NASDAQ:MGEE - Get Free Report) last released its earnings results on Wednesday, May 7th. The utilities provider reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.16. The company had revenue of $218.97 million during the quarter, compared to analyst estimates of $202.42 million. MGE Energy had a return on equity of 10.58% and a net margin of 18.22%. On average, research analysts expect that MGE Energy Inc. will post 3.43 earnings per share for the current fiscal year.

MGE Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, June 15th. Stockholders of record on Sunday, June 1st were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Friday, May 30th. MGE Energy's dividend payout ratio (DPR) is presently 50.85%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Wall Street Zen downgraded MGE Energy from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Morgan Stanley dropped their price objective on MGE Energy from $75.00 to $74.00 and set an "underweight" rating on the stock in a research note on Thursday, May 22nd. Finally, LADENBURG THALM/SH SH raised MGE Energy to a "strong sell" rating in a research note on Friday, May 9th.

MGE Energy 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.