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

MGE Energy, Inc. (NASDAQ:MGEE) announced a quarterly dividend on Friday, October 18th,Zacks Dividends reports. Stockholders of record on Sunday, December 1st will be given 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 of this dividend is Friday, November 29th.

MGE Energy has raised its dividend payment 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. Research 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 Price Performance

Shares of NASDAQ:MGEE traded up $1.25 during midday trading on Wednesday, hitting $104.59. 8,166 shares of the stock were exchanged, compared to its average volume of 211,812. The stock has a market cap of $3.79 billion, a P/E ratio of 31.60 and a beta of 0.71. MGE Energy has a twelve month low of $61.94 and a twelve month high of $109.22. The company has a 50 day moving average price of $94.85 and a 200-day moving average price of $86.51. The company has a current ratio of 1.41, a quick ratio of 0.94 and a debt-to-equity ratio of 0.60.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley upped their target price on MGE Energy from $71.00 to $74.00 and gave the company an “underweight” rating in a research note 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.