Bokf Na Increases Stake in MGE Energy, Inc. (NASDAQ:MGEE)

Bokf Na grew its holdings in MGE Energy, Inc. (NASDAQ:MGEE) by 126.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,367 shares of the utilities provider’s stock after acquiring an additional 2,442 shares during the period. Bokf Na’s holdings in MGE Energy were worth $326,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Charles Schwab Investment Management Inc. raised its holdings in MGE Energy by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 378,940 shares of the utilities provider’s stock worth $27,401,000 after purchasing an additional 5,544 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of MGE Energy by 0.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 759,044 shares of the utilities provider’s stock valued at $54,887,000 after buying an additional 7,085 shares in the last quarter. Avantax Advisory Services Inc. grew its stake in shares of MGE Energy by 34.5% during the 4th quarter. Avantax Advisory Services Inc. now owns 10,953 shares of the utilities provider’s stock valued at $792,000 after acquiring an additional 2,808 shares during the period. Quest Partners LLC purchased a new stake in MGE Energy in the 4th quarter worth approximately $570,000. Finally, Neuberger Berman Group LLC bought a new stake in MGE Energy during the 4th quarter worth approximately $213,000. Hedge funds and other institutional investors own 52.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on MGEE shares. StockNews.com raised shares of MGE Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. Morgan Stanley boosted their price objective on MGE Energy from $66.00 to $71.00 and gave the company an “underweight” rating in a research report on Friday, August 23rd.

MGE Energy Trading Up 1.3 %

Shares of MGE Energy stock opened at $91.78 on Tuesday. The firm has a market cap of $3.32 billion, a price-to-earnings ratio of 27.64 and a beta of 0.70. The business has a 50-day moving average price of $85.15 and a 200-day moving average price of $80.10. The company has a quick ratio of 0.90, a current ratio of 1.32 and a debt-to-equity ratio of 0.61. MGE Energy, Inc. has a twelve month low of $61.94 and a twelve month high of $92.06.

MGE Energy (NASDAQ:MGEE) last posted its earnings results on Wednesday, August 7th. The utilities provider reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.29). The business had revenue of $145.71 million during the quarter, compared to analysts’ expectations of $151.29 million. MGE Energy had a net margin of 17.45% and a return on equity of 10.04%. Equities research analysts anticipate that MGE Energy, Inc. will post 3.69 EPS for the current fiscal year.

MGE Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 15th. Investors of record on Sunday, September 1st were given a $0.45 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.80 annualized dividend and a yield of 1.96%. This is a positive change from MGE Energy’s previous quarterly dividend of $0.43. MGE Energy’s dividend payout ratio (DPR) is currently 54.22%.

About MGE Energy

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.