US Bancorp DE Has $2.99 Million Position in MGE Energy, Inc. (NASDAQ:MGEE)

US Bancorp DE cut its stake in MGE Energy, Inc. (NASDAQ:MGEE) by 1.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,737 shares of the utilities provider’s stock after selling 538 shares during the quarter. US Bancorp DE owned 0.09% of MGE Energy worth $2,994,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Quest Partners LLC increased its stake in shares of MGE Energy by 5,088.9% in the 2nd quarter. Quest Partners LLC now owns 467 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 458 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of MGE Energy by 244.6% in the 2nd quarter. GAMMA Investing LLC now owns 672 shares of the utilities provider’s stock valued at $50,000 after acquiring an additional 477 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of MGE Energy in the 2nd quarter valued at about $58,000. Covestor Ltd increased its stake in shares of MGE Energy by 43.3% in the 1st quarter. Covestor Ltd now owns 794 shares of the utilities provider’s stock valued at $63,000 after acquiring an additional 240 shares during the last quarter. Finally, nVerses Capital LLC bought a new stake in shares of MGE Energy in the 2nd quarter valued at about $75,000. 52.58% of the stock is owned by institutional investors.

MGE Energy Price Performance

Shares of MGEE opened at $90.81 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.90 and a current ratio of 1.32. The stock has a 50 day simple moving average of $89.91 and a 200 day simple moving average of $83.83. MGE Energy, Inc. has a 52-week low of $61.94 and a 52-week high of $94.57. The firm has a market capitalization of $3.29 billion, a PE ratio of 28.47 and a beta of 0.71.

MGE Energy (NASDAQ:MGEE) last issued its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.29). MGE Energy had a net margin of 17.45% and a return on equity of 10.04%. The business had revenue of $145.71 million during the quarter, compared to analyst estimates of $151.29 million. Sell-side analysts predict that MGE Energy, Inc. will post 3.69 EPS for the current fiscal year.

MGE Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Sunday, December 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 1.98%. The ex-dividend date is Friday, November 29th. MGE Energy’s dividend payout ratio (DPR) is currently 56.43%.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley boosted their price objective on MGE Energy from $71.00 to $74.00 and gave the company an “underweight” rating in a research report on Wednesday, September 25th.

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.