MGE Energy Inc. Plans Quarterly Dividend of $0.32 (MGEE)
MGE Energy Inc. (NASDAQ:MGEE) declared a quarterly dividend on Monday, October 23rd, Wall Street Journal reports. Stockholders of record on Friday, December 1st will be given a dividend of 0.3225 per share by the utilities provider on Friday, December 15th. This represents a $1.29 annualized dividend and a dividend yield of 1.92%. The ex-dividend date is Thursday, November 30th.
MGE Energy has raised its dividend by an average of 4.0% annually over the last three years and has increased its dividend annually for the last 41 consecutive years. MGE Energy has a payout ratio of 58.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect MGE Energy to earn $2.40 per share next year, which means the company should continue to be able to cover its $1.29 annual dividend with an expected future payout ratio of 53.8%.
MGE Energy (NASDAQ MGEE) traded down 0.37% during trading on Monday, hitting $67.30. The stock had a trading volume of 63,118 shares. MGE Energy has a 12 month low of $55.05 and a 12 month high of $68.70. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of 30.21 and a beta of 0.34. The stock has a 50 day moving average price of $65.60 and a 200-day moving average price of $65.14.
MGE Energy (NASDAQ:MGEE) last issued its quarterly earnings results on Friday, August 4th. The utilities provider reported $0.45 earnings per share for the quarter. MGE Energy had a return on equity of 10.60% and a net margin of 13.82%. The firm had revenue of $126.46 million for the quarter. On average, equities analysts predict that MGE Energy will post $2.30 EPS for the current year.
In other news, insider Jeffrey M. Keebler acquired 547 shares of MGE Energy stock in a transaction on Tuesday, September 5th. The shares were bought at an average cost of $64.02 per share, for a total transaction of $35,018.94. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company’s stock.
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Several brokerages have recently weighed in on MGEE. BidaskClub downgraded MGE Energy from a “sell” rating to a “strong sell” rating in a report on Thursday, August 17th. Zacks Investment Research upgraded MGE Energy from a “sell” rating to a “hold” rating in a report on Thursday, September 7th.
MGE Energy Company Profile
MGE Energy, Inc (MGE) is a public utility holding company. The Company operates through five segments: Regulated electric utility operations; Regulated gas utility operations; Nonregulated energy operations; Transmission investments, and All other. The Regulated electric utility operations segment is engaged in generating, purchasing and distributing electricity through Madison Gas and Electric Company (MGE).
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