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

MGE Energy, Inc. (NASDAQ:MGEE) declared a quarterly dividend on Friday, October 18th,Zacks Dividends reports. Investors 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 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date 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 annually for the last 49 consecutive years. MGE Energy has a payout ratio of 44.7% indicating that its dividend is sufficiently covered by earnings. 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 Stock Up 1.4 %

MGEE opened at $104.76 on Thursday. 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’s 50-day moving average is $94.85 and its 200 day moving average is $86.51. MGE Energy has a fifty-two week low of $61.94 and a fifty-two week high of $109.22. The firm has a market capitalization of $3.79 billion, a P/E ratio of 32.04 and a beta of 0.71.

Analysts Set New Price Targets

Separately, Morgan Stanley raised their price target 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.

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.