MGE Energy, Inc. to Issue Quarterly Dividend of $0.45 (NASDAQ:MGEE)

MGE Energy, Inc. (NASDAQ:MGEE) announced a quarterly dividend on Friday, October 18th,Zacks Dividends reports. Investors of record on Sunday, December 1st will be paid a dividend of 0.45 per share by the utilities provider on Sunday, December 15th. This represents a $1.80 annualized dividend and a dividend yield of 1.72%. The ex-dividend date is Friday, November 29th.

MGE Energy has raised its dividend by an average of 4.9% per year over the last three years and has raised its dividend every year for the last 49 years. MGE Energy has a payout ratio of 44.7% meaning its dividend is sufficiently covered by earnings. Analysts expect MGE Energy to earn $3.95 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 45.6%.

MGE Energy Trading Up 1.3 %

MGEE stock traded up $1.32 during mid-day trading on Wednesday, reaching $104.66. The company’s stock had a trading volume of 11,391 shares, compared to its average volume of 211,819. MGE Energy has a 12 month low of $61.94 and a 12 month high of $109.22. The company has a current ratio of 1.41, a quick ratio of 0.94 and a debt-to-equity ratio of 0.60. The business’s 50 day moving average price is $94.85 and its 200 day moving average price is $86.51. The company has a market cap of $3.79 billion, a price-to-earnings ratio of 31.60 and a beta of 0.71.

Analyst Ratings Changes

Separately, Morgan Stanley boosted their target price on shares of MGE Energy from $71.00 to $74.00 and gave the company an “underweight” rating in a research report on Wednesday, September 25th.

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.