MGE Energy Inc. to Issue Quarterly Dividend of $0.48 (NASDAQ:MGEE)

MGE Energy Inc. (NASDAQ:MGEE) declared a quarterly dividend on Tuesday, May 19th. Shareholders of record on Monday, June 1st will be paid a dividend of 0.475 per share by the utilities provider on Monday, June 15th. This represents a c) annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Monday, June 1st.

MGE Energy has increased its dividend by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 49 years. MGE Energy has a payout ratio of 48.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect MGE Energy to earn $4.20 per share next year, which means the company should continue to be able to cover its $1.90 annual dividend with an expected future payout ratio of 45.2%.

MGE Energy Stock Performance

Shares of MGE Energy stock opened at $75.60 on Wednesday. The firm has a market capitalization of $2.78 billion, a P/E ratio of 19.38 and a beta of 0.76. MGE Energy has a 52 week low of $72.17 and a 52 week high of $94.00. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 0.65. The firm’s 50 day moving average is $77.27 and its two-hundred day moving average is $79.36.

MGE Energy (NASDAQ:MGEE) last announced its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.32 EPS for the quarter, beating the consensus estimate of $1.13 by $0.19. The company had revenue of $242.70 million for the quarter, compared to analyst estimates of $227.06 million. MGE Energy had a net margin of 18.61% and a return on equity of 10.94%. Research analysts forecast that MGE Energy will post 3.94 EPS for the current fiscal year.

Insider Buying and Selling at MGE Energy

In other MGE Energy news, Director James G. Berbee bought 373 shares of MGE Energy stock in a transaction on Wednesday, March 11th. The stock was bought at an average price of $77.74 per share, with a total value of $28,997.02. Following the completion of the acquisition, the director owned 9,362 shares in the company, valued at $727,801.88. The trade was a 4.15% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.41% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MGEE. Deprince Race & Zollo Inc. purchased a new stake in MGE Energy during the 1st quarter worth about $21,418,000. Qube Research & Technologies Ltd grew its holdings in MGE Energy by 167.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 162,217 shares of the utilities provider’s stock valued at $13,655,000 after buying an additional 101,586 shares during the period. Jane Street Group LLC grew its holdings in MGE Energy by 718.5% in the 1st quarter. Jane Street Group LLC now owns 75,007 shares of the utilities provider’s stock valued at $6,973,000 after buying an additional 65,843 shares during the period. Speece Thorson Capital Group Inc. grew its holdings in MGE Energy by 44.3% in the 4th quarter. Speece Thorson Capital Group Inc. now owns 195,596 shares of the utilities provider’s stock valued at $15,339,000 after buying an additional 60,037 shares during the period. Finally, Two Sigma Investments LP grew its holdings in MGE Energy by 181.1% in the 3rd quarter. Two Sigma Investments LP now owns 80,758 shares of the utilities provider’s stock valued at $6,798,000 after buying an additional 52,031 shares during the period. Institutional investors and hedge funds own 52.58% of the company’s stock.

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.