Savant Capital LLC Buys 4,574 Shares of MGE Energy Inc. $MGEE

Savant Capital LLC increased its stake in MGE Energy Inc. (NASDAQ:MGEE) by 91.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,594 shares of the utilities provider’s stock after acquiring an additional 4,574 shares during the quarter. Savant Capital LLC’s holdings in MGE Energy were worth $848,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Hilltop National Bank bought a new position in MGE Energy during the 2nd quarter worth approximately $41,000. Private Trust Co. NA bought a new stake in shares of MGE Energy in the 2nd quarter valued at $45,000. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of MGE Energy by 47.3% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 526 shares of the utilities provider’s stock worth $47,000 after buying an additional 169 shares during the period. eCIO Inc. bought a new position in MGE Energy during the first quarter worth $53,000. Finally, MJT & Associates Financial Advisory Group Inc. bought a new position in MGE Energy during the first quarter worth $139,000. Institutional investors and hedge funds own 52.58% of the company’s stock.

MGE Energy Price Performance

MGEE stock opened at $83.61 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.80 and a quick ratio of 1.20. The company’s 50-day moving average is $84.11 and its 200-day moving average is $86.59. The stock has a market capitalization of $3.06 billion, a PE ratio of 23.23 and a beta of 0.81. MGE Energy Inc. has a 1 year low of $81.13 and a 1 year high of $108.64.

MGE Energy (NASDAQ:MGEE) last posted its quarterly earnings results on Wednesday, November 5th. The utilities provider reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.03. The business had revenue of $175.68 million for the quarter. MGE Energy had a return on equity of 10.58% and a net margin of 18.24%. Equities research analysts expect that MGE Energy Inc. will post 3.43 EPS for the current fiscal year.

MGE Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Monday, December 1st. MGE Energy’s dividend payout ratio (DPR) is currently 51.49%.

Analyst Upgrades and Downgrades

MGEE has been the topic of a number of research analyst reports. Weiss Ratings raised shares of MGE Energy from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, November 7th. LADENBURG THALM/SH SH raised MGE Energy from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $69.00 to $83.00 in a research note on Thursday, September 11th. Wall Street Zen cut MGE Energy from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Finally, Morgan Stanley reiterated an “underweight” rating on shares of MGE Energy in a report on Wednesday, October 22nd. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, MGE Energy presently has an average rating of “Hold” and an average price target of $79.00.

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.