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. Stockholders of record on Saturday, March 1st will be paid a dividend of 0.45 per share by the utilities provider on Saturday, March 15th. This represents a $1.80 annualized dividend and a dividend yield of 1.92%.

MGE Energy has increased its dividend payment by an average of 5.0% per year over the last three years and has increased its dividend every year for the last 49 years. MGE Energy has a dividend payout ratio of 43.7% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Shares of NASDAQ MGEE opened at $93.80 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.41 and a quick ratio of 0.94. The company has a market cap of $3.40 billion, a price-to-earnings ratio of 28.69 and a beta of 0.76. The stock’s 50-day moving average is $98.28 and its two-hundred day moving average is $91.21. MGE Energy has a 1-year low of $61.94 and a 1-year high of $109.22.

Analysts Set New Price Targets

A number of research firms recently weighed in on MGEE. LADENBURG THALM/SH SH upgraded shares of MGE Energy to a “strong sell” rating in a research note on Thursday, December 12th. Morgan Stanley increased their price objective on shares of MGE Energy from $71.00 to $74.00 and gave the company an “underweight” rating in a research report 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.