MGE Energy Inc. (NASDAQ:MGEE) Increases Dividend to $0.48 Per Share

Key Points

• MGE Energy Inc. has increased its quarterly dividend to $0.48 per share, reflecting a 5.6% increase from the previous dividend of $0.45.
• The company maintains a payout ratio of 45.8%, indicating that its dividend is well-covered by earnings, with an expected future payout ratio of 46.9%.
• MGE Energy's stock has shown fluctuating performance, recently trading at $83.40, with a market cap of $3.05 billion and a P/E ratio of 23.17.

MGE Energy Inc. (NASDAQ:MGEE - Get Free Report) announced a quarterly dividend on Monday, August 18th, Wall Street Journal reports. Stockholders of record on Monday, September 1st will be paid a dividend of 0.475 per share by the utilities provider on Monday, September 15th. This represents a c) dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Friday, August 29th. This is a 5.6% increase from MGE Energy's previous quarterly dividend of $0.45.

MGE Energy has a payout ratio of 45.8% indicating that its dividend is sufficiently covered by earnings. 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 Performance

Shares of MGE Energy stock traded down $0.70 on Monday, reaching $83.40. The stock had a trading volume of 113,526 shares, compared to its average volume of 147,982. The business's 50-day moving average price is $86.99 and its two-hundred day moving average price is $89.41. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.20 and a current ratio of 1.80. MGE Energy has a fifty-two week low of $82.21 and a fifty-two week high of $109.22. The stock has a market cap of $3.05 billion, a P/E ratio of 23.17 and a beta of 0.76.

MGE Energy (NASDAQ:MGEE - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The utilities provider reported $0.72 earnings per share for the quarter, missing analysts' consensus estimates of $0.73 by ($0.01). MGE Energy had a return on equity of 10.58% and a net margin of 18.24%. The firm had revenue of $159.45 million during the quarter. On average, sell-side analysts forecast that MGE Energy will post 3.43 EPS for the current year.

Institutional Investors Weigh In On MGE Energy

Several institutional investors and hedge funds have recently made changes to their positions in MGEE. Public Sector Pension Investment Board lifted its position in MGE Energy by 8.5% during the 2nd quarter. Public Sector Pension Investment Board now owns 124,551 shares of the utilities provider's stock worth $11,015,000 after buying an additional 9,775 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in MGE Energy by 3,301.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,142 shares of the utilities provider's stock valued at $632,000 after purchasing an additional 6,932 shares during the period. State of Tennessee Department of Treasury lifted its position in MGE Energy by 21.1% during the 2nd quarter. State of Tennessee Department of Treasury now owns 10,622 shares of the utilities provider's stock valued at $939,000 after purchasing an additional 1,848 shares during the period. Vident Advisory LLC lifted its position in MGE Energy by 5.3% during the 2nd quarter. Vident Advisory LLC now owns 11,514 shares of the utilities provider's stock valued at $1,018,000 after purchasing an additional 576 shares during the period. Finally, Smartleaf Asset Management LLC increased its stake in shares of MGE Energy by 19.1% in the 2nd quarter. Smartleaf Asset Management LLC now owns 1,326 shares of the utilities provider's stock valued at $117,000 after acquiring an additional 213 shares during the last quarter. Institutional investors and hedge funds own 52.58% of the company's stock.

About MGE Energy

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.