Vanguard Group Inc. Purchases 8,643 Shares of MGE Energy, Inc. (NASDAQ:MGEE)

Vanguard Group Inc. raised its position in MGE Energy, Inc. (NASDAQ:MGEE) by 0.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,180,606 shares of the utilities provider’s stock after purchasing an additional 8,643 shares during the quarter. Vanguard Group Inc. owned 11.56% of MGE Energy worth $302,300,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Security National Bank bought a new position in MGE Energy in the fourth quarter valued at about $43,000. Neuberger Berman Group LLC acquired a new stake in shares of MGE Energy in the fourth quarter valued at about $213,000. North Star Asset Management Inc. acquired a new stake in shares of MGE Energy in the fourth quarter valued at about $227,000. Foundry Partners LLC increased its stake in shares of MGE Energy by 7.2% in the fourth quarter. Foundry Partners LLC now owns 4,455 shares of the utilities provider’s stock valued at $322,000 after buying an additional 300 shares during the period. Finally, Trust Point Inc. acquired a new stake in shares of MGE Energy in the fourth quarter valued at about $344,000. 52.58% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MGEE has been the subject of several recent research reports. Morgan Stanley decreased their price target on MGE Energy from $68.00 to $65.00 and set an “underweight” rating for the company in a research note on Monday, June 24th. StockNews.com raised MGE Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th.

MGE Energy Trading Down 0.7 %

NASDAQ MGEE opened at $74.72 on Friday. The business has a 50 day simple moving average of $78.39 and a 200 day simple moving average of $73.96. MGE Energy, Inc. has a one year low of $61.94 and a one year high of $83.27. The stock has a market capitalization of $2.70 billion, a P/E ratio of 22.51 and a beta of 0.73. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.09.

MGE Energy (NASDAQ:MGEE) last released its earnings results on Wednesday, May 8th. The utilities provider reported $0.93 EPS for the quarter, missing the consensus estimate of $0.94 by ($0.01). MGE Energy had a return on equity of 10.60% and a net margin of 18.12%. The business had revenue of $191.34 million for the quarter, compared to analyst estimates of $221.46 million. Research analysts expect that MGE Energy, Inc. will post 3.69 earnings per share for the current year.

MGE Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, June 15th. Investors of record on Saturday, June 1st were paid a dividend of $0.428 per share. The ex-dividend date was Friday, May 31st. This represents a $1.71 annualized dividend and a yield of 2.29%. MGE Energy’s dividend payout ratio is currently 51.51%.

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.