Keybank National Association OH Sells 250 Shares of MGE Energy, Inc. (NASDAQ:MGEE)

Posted by Defense World Staff on Aug 24th, 2023

Keybank National Association OH lessened its holdings in shares of MGE Energy, Inc. (NASDAQ:MGEE – Free Report) by 6.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,950 shares of the utilities provider’s stock after selling 250 shares during the period. Keybank National Association OH’s holdings in MGE Energy were worth $307,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. New Hampshire Trust bought a new stake in shares of MGE Energy during the 4th quarter valued at $27,000. Heritage Wealth Management LLC boosted its holdings in shares of MGE Energy by 100.0% during the 4th quarter. Heritage Wealth Management LLC now owns 400 shares of the utilities provider’s stock valued at $28,000 after buying an additional 200 shares in the last quarter. Money Concepts Capital Corp purchased a new position in shares of MGE Energy in the 4th quarter worth about $48,000. Ameritas Advisory Services LLC purchased a new position in shares of MGE Energy in the 1st quarter worth about $49,000. Finally, Mendota Financial Group LLC raised its position in shares of MGE Energy by 84.2% in the 1st quarter. Mendota Financial Group LLC now owns 630 shares of the utilities provider’s stock worth $50,000 after purchasing an additional 288 shares during the last quarter. Institutional investors own 51.59% of the company’s stock.

MGE Energy Price Performance

MGEE opened at $75.81 on Thursday. The stock has a 50-day moving average price of $78.20 and a 200-day moving average price of $76.07. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.40 and a quick ratio of 0.95. The firm has a market cap of $2.74 billion, a PE ratio of 23.99, a P/E/G ratio of 4.21 and a beta of 0.74. MGE Energy, Inc. has a 1 year low of $61.67 and a 1 year high of $83.27.

MGE Energy (NASDAQ:MGEE – Get Free Report) last issued its earnings results on Thursday, August 3rd. The utilities provider reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.07. MGE Energy had a return on equity of 10.49% and a net margin of 15.94%. The business had revenue of $148.00 million during the quarter, compared to analyst estimates of $157.06 million. Sell-side analysts predict that MGE Energy, Inc. will post 3.32 earnings per share for the current fiscal year.

MGE Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be given a $0.428 dividend. This is a positive change from MGE Energy’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $1.71 dividend on an annualized basis and a yield of 2.26%. MGE Energy’s payout ratio is 51.58%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on MGEE shares. StockNews.com started coverage on MGE Energy in a research report on Thursday, August 17th. They issued a “hold” rating for the company. Morgan Stanley lowered their price target on MGE Energy from $67.00 to $63.00 and set an “underweight” rating for the company in a research report on Wednesday.

Check Out Our Latest Analysis on MGEE

About MGE Energy

(Free Report)

MGE Energy, Inc, through its subsidiaries, operates as a public utility holding company primarily in Wisconsin. 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; and plans, constructs, operates, maintains, and expands transmission facilities to provide transmission services.