MGE Energy, Inc. (NASDAQ:MGEE) announced a quarterly dividend on Wednesday, May 15th, Wall Street Journal reports. Shareholders of record on Saturday, June 1st will be given a dividend of 0.3375 per share by the utilities provider on Saturday, June 15th. This represents a $1.35 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend is Thursday, May 30th.
MGE Energy has increased its dividend by an average of 4.6% annually over the last three years and has increased its dividend every year for the last 43 years. MGE Energy has a dividend payout ratio of 58.7% meaning its dividend is sufficiently covered by earnings.
MGE Energy stock opened at $69.26 on Thursday. MGE Energy has a one year low of $55.30 and a one year high of $69.62. The firm has a market capitalization of $2.40 billion, a price-to-earnings ratio of 27.27 and a beta of 0.38. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.97 and a quick ratio of 1.68.
MGE Energy (NASDAQ:MGEE) last announced its quarterly earnings results on Wednesday, May 8th. The utilities provider reported $0.69 earnings per share for the quarter. MGE Energy had a return on equity of 10.85% and a net margin of 15.49%. The business had revenue of $167.57 million during the quarter.
Separately, BidaskClub upgraded MGE Energy from a “hold” rating to a “buy” rating in a research report on Tuesday.
In related news, Chairman Jeffrey M. Keebler acquired 525 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was purchased at an average price of $66.62 per share, for a total transaction of $34,975.50. The purchase was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.19% of the company’s stock.
MGE Energy Company Profile
MGE Energy, Inc, through its subsidiaries, operates as a public utility holding company primarily in Wisconsin. It operates through five segments: Regulated Electric Utility Operations; Regulated Gas Utility Operations; Nonregulated Energy Operations; Transmission Investments; and All Other. The company generates, purchases, and distributes electricity; owns or leases electric generation facilities located in Wisconsin and Iowa; and plans, constructs, operates, maintains, and expands transmission facilities to provide transmission services.
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