MGE Energy announces 5.2% dividend increase for shareholders

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MGE ($NASDAQ:MGEE) Energy is a diversified energy company based in Madison, Wisconsin.

In addition, the company owns and operates two power plants, a natural gas pipeline and a propane distribution business. Wisconsin Public Service provides electric service to customers in Wisconsin’s Fox River Valley, including the cities of Green Bay, Appleton, Oshkosh, Neenah and Menasha. In addition, the company owns and operates two power plants, a natural gas pipeline and a propane distribution business. MGE Energy is committed to providing safe, reliable and affordable energy to our customers. We are also committed to being a good steward of the environment. That’s why we are investing in renewable energy and energy efficiency. In fact, we are one of the leading utilities in the country in terms of the amount of renewable energy we generate.

Dividends

MGE Energy announced a 5.2% dividend increase for shareholders, issuing a dividend per share of 1.55 USD for FY2022 Q2 as of June 30. This is compared to the dividends of 1.52 USD and 1.44 USD issued in the last two years. With a dividend yield of 2.1% in 2020 and 2.02% in 2021, MGE Energy‘s dividend yields have been on the rise in recent years.

This dividend-issuing company has a three-year average dividend yield of 2.03%. If you are looking for dividend stocks, you may add MGE Energy to your list of consideration.

Market Price

On Friday, MGE Energy announced that it would be increasing its dividend by 5.2%. This news was well-received by shareholders, and the stock prices reflected this positive sentiment. MGE Energy opened at $64.7 and closed at the same price, up 0.3% from the previous closing price. This is a positive sign for the company, as it shows that investors are confident in its future prospects.

VI Analysis

MGE Energy‘s strong fundamentals reflect its long-term potential. The company has a solid financial position, with low debt levels and strong cash flow. Additionally, MGE Energy‘s business is diversified and has a strong market position.

However, there are some risks to consider. The company’s cash flow statement has 1 risk warning.

Additionally, the company is reliant on the utility industry, which is subject to regulation.

VI Peers

The company has a long history dating back to 1855, when the city of Madison, Wisconsin, was founded. Today, MGE Energy Inc is a publicly traded company on the New York Stock Exchange and has a market capitalization of over $2 billion. The company’s main competitors are NorthWestern Corp, South Jersey Industries Inc, and ALLETE Inc.

– NorthWestern Corp ($NASDAQ:NWE)

NorthWestern Corporation, doing business as NorthWestern Energy, provides electricity and natural gas to residential, commercial, and industrial customers in Montana, South Dakota, and Nebraska, the United States. It generates, transmits, and distributes electricity from coal, hydro, solar, wind, and biomass resources. The company also generates, stores, transmits, and distributes natural gas. In addition, it engages in the energy marketing activities. As of December 31, 2020, the company owned or leased approximately 3,300 megawatts of generating capacity; and operated and maintained approximately 16,200 miles of transmission and distribution lines. NorthWestern Corporation was founded in 1923 and is headquartered in Sioux Falls, South Dakota.

– South Jersey Industries Inc ($NYSE:SJI)

South Jersey Industries Inc is a company that provides energy services to its customers. The company has a market cap of 4.21B as of 2022 and a return on equity of 9.62%. South Jersey Industries Inc is a provider of energy services to its customers and has a strong focus on customer satisfaction. The company has a long history of providing energy services to its customers and has a strong reputation in the industry.

– ALLETE Inc ($NYSE:ALE)

The company is a leading provider of advanced security, video surveillance and facility access control solutions. The company’s products are used in a variety of applications, including government, commercial, industrial, transportation and residential. The company’s products are designed to provide a high level of security and safety for people and property.

Summary

MGE Energy is a great investment for those looking for a reliable and consistent income stream. The company has a strong history of paying dividends, and its recent 5.2% dividend increase is a clear indication of its continued commitment to shareholders. Furthermore, MGE Energy is currently trading at a very attractive price, making it a great time to buy into the company.