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

MGE Energy, Inc. (NASDAQ:MGEE) announced a quarterly dividend on Friday, January 17th,RTT News reports. Shareholders of record on Saturday, March 1st will be given a dividend of 0.45 per share by the utilities provider on Saturday, March 15th. This represents a $1.80 annualized dividend and a yield of 1.92%.

MGE Energy has increased its dividend payment by an average of 5.0% annually over the last three years and has raised its dividend annually for the last 49 consecutive years. MGE Energy has a dividend payout ratio of 43.7% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Trading Down 0.1 %

Shares of MGE Energy stock opened at $93.80 on Friday. The firm has a market cap of $3.40 billion, a PE ratio of 28.69 and a beta of 0.76. The company has a quick ratio of 0.94, a current ratio of 1.41 and a debt-to-equity ratio of 0.60. MGE Energy has a fifty-two week low of $61.94 and a fifty-two week high of $109.22. The business’s fifty day moving average is $98.28 and its two-hundred day moving average is $91.33.

Analyst Ratings Changes

MGEE has been the topic of a number of research analyst reports. LADENBURG THALM/SH SH raised MGE Energy to a “strong sell” rating in a research note on Thursday, December 12th. Morgan Stanley increased their price target on shares of MGE Energy from $71.00 to $74.00 and gave the stock an “underweight” rating in a research note on Wednesday, September 25th.

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.