Dana Investment Advisors Inc. Takes Position in MGE Energy, Inc. (NASDAQ:MGEE)

Dana Investment Advisors Inc. bought a new stake in MGE Energy, Inc. (NASDAQ:MGEE) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,318 shares of the utilities provider’s stock, valued at approximately $312,000.

A number of other large investors also recently made changes to their positions in the business. Van ECK Associates Corp increased its holdings in MGE Energy by 7.3% in the third quarter. Van ECK Associates Corp now owns 10,020 shares of the utilities provider’s stock worth $916,000 after buying an additional 682 shares during the last quarter. Assetmark Inc. acquired a new position in MGE Energy in the third quarter worth approximately $35,000. Covestor Ltd increased its holdings in 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 last quarter. Crossmark Global Holdings Inc. acquired a new position in MGE Energy in the third quarter worth approximately $290,000. Finally, GSA Capital Partners LLP acquired a new position in MGE Energy in the third quarter worth approximately $584,000. Institutional investors and hedge funds own 52.58% of the company’s stock.

Analyst Upgrades and Downgrades

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

MGE Energy Stock Up 1.2 %

Shares of MGE Energy stock opened at $89.96 on Monday. The stock has a market capitalization of $3.28 billion, a P/E ratio of 27.51 and a beta of 0.72. The company has a quick ratio of 0.94, a current ratio of 1.41 and a debt-to-equity ratio of 0.60. The stock has a 50 day moving average price of $90.84 and a two-hundred day moving average price of $93.09. MGE Energy, Inc. has a 12-month low of $72.27 and a 12-month high of $109.22.

MGE Energy (NASDAQ:MGEE) last announced its earnings results on Tuesday, February 25th. The utilities provider reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.23). The company had revenue of $171.42 million for the quarter. MGE Energy had a return on equity of 10.18% and a net margin of 17.70%. Equities analysts expect that MGE Energy, Inc. will post 3.43 earnings per share for the current year.

MGE Energy Dividend Announcement

The business also recently announced 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. The ex-dividend date is Friday, February 28th. This represents a $1.80 dividend on an annualized basis and a yield of 2.00%. MGE Energy’s payout ratio is currently 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.