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

MGE Energy, Inc. (NASDAQ:MGEE) declared 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 dividend on an annualized basis and a yield of 1.92%.

MGE Energy has raised its dividend payment by an average of 5.0% annually 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% indicating that its dividend is sufficiently covered by earnings. 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 Stock Performance

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

Analysts Set New Price Targets

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