US Bancorp DE Purchases 6,635 Shares of MGE Energy, Inc. (NASDAQ:MGEE)

US Bancorp DE grew its position in shares of MGE Energy, Inc. (NASDAQ:MGEE) by 20.3% in the 4th quarter, HoldingsChannel reports. The firm owned 39,372 shares of the utilities provider’s stock after acquiring an additional 6,635 shares during the quarter. US Bancorp DE’s holdings in MGE Energy were worth $3,699,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its stake in MGE Energy by 367.1% during the fourth quarter. Versant Capital Management Inc now owns 327 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 257 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its stake in MGE Energy by 88.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 357 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 168 shares during the last quarter. Assetmark Inc. bought a new stake in MGE Energy during the third quarter worth about $35,000. Covestor Ltd increased its holdings in shares of MGE Energy by 37.3% in the third quarter. Covestor Ltd now owns 453 shares of the utilities provider’s stock worth $42,000 after buying an additional 123 shares during the period. Finally, KBC Group NV increased its holdings in shares of MGE Energy by 32.2% in the fourth quarter. KBC Group NV now owns 1,478 shares of the utilities provider’s stock worth $139,000 after buying an additional 360 shares during the period. Institutional investors own 52.58% of the company’s stock.

Wall Street Analyst Weigh In

Separately, LADENBURG THALM/SH SH upgraded MGE Energy to a “strong sell” rating in a report on Thursday, December 12th.

MGE Energy Stock Down 1.3 %

MGEE opened at $89.69 on Thursday. The company has a market cap of $3.27 billion, a P/E ratio of 27.43 and a beta of 0.76. The business’s 50-day moving average price is $91.18 and its 200-day moving average price is $93.04. The company has a current ratio of 1.41, a quick ratio of 0.94 and a debt-to-equity ratio of 0.60. MGE Energy, Inc. has a 12 month low of $72.27 and a 12 month high of $109.22.

MGE Energy (NASDAQ:MGEE) last released its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.61 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.23). The company had revenue of $171.42 million during the quarter. MGE Energy had a return on equity of 10.18% and a net margin of 17.70%. On average, equities analysts expect that MGE Energy, Inc. will post 3.43 EPS for the current year.

MGE Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 15th. Shareholders of record on Saturday, March 1st will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Friday, February 28th. MGE Energy’s payout ratio is 54.05%.

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.