MGE Energy, Inc. (NASDAQ:MGEE) announced a quarterly dividend on Wednesday, May 15th, Wall Street Journal reports. Stockholders 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 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Thursday, May 30th.
MGE Energy has raised its dividend payment by an average of 4.6% annually over the last three years and has increased its dividend annually for the last 43 consecutive years. MGE Energy has a payout ratio of 58.7% indicating that its dividend is sufficiently covered by earnings.
Shares of MGE Energy stock traded up $0.45 during mid-day trading on Wednesday, hitting $69.26. The stock had a trading volume of 38,337 shares, compared to its average volume of 54,043. MGE Energy has a 12-month low of $55.30 and a 12-month high of $69.37. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.97 and a quick ratio of 1.68. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of 27.27 and a beta of 0.38.
In related news, Chairman Jeffrey M. Keebler acquired 525 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was purchased at an average price of $66.62 per share, with a total value of $34,975.50. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.19% of the company’s stock.
Separately, BidaskClub cut shares of MGE Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, January 16th.
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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