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Last $38.37 USD
Change Today -0.17 / -0.44%
Volume 6.7K
MGEE On Other Exchanges
Symbol
Exchange
NASDAQ GS
As of 9:40 AM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

mge energy inc (MGEE) Key Developments

MGE Energy Inc. Increases Regular Common Stock Quarterly Dividend, Payable on September 15, 2015

MGE Energy Inc. announced that its board of directors increased the regular quarterly dividend rate by 4.4%, to 29.50 cents per share on the company's common stock. The increase raised the annual dividend rate from $1.13 per share to $1.18 per share, and the dividend is payable September 15 to shareholders of record September 1.

MGE Energy Inc. Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

MGE Energy Inc. reported unaudited earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported operating revenue of $122,126,000 compared to $128,765,000 a year ago. Operating income was $24,049,000 compared to $24,441,000 a year ago. Net income was $13,479,000 compared to $14,087,000 a year ago. Basic and diluted earnings per share were $0.39 compared to $0.411 a year ago. For the six months, the company reported operating revenue of $292,260,000 compared to $339,010,000 a year ago. Operating income was $55,900,000 compared to $68,412,000 a year ago. Net income was $31,757,000 compared to $41,804,000 a year ago. Basic and diluted earnings per share were $0.92 compared to $1.21 a year ago.

MGE Energy, Inc. and Madison Gas and Electric Company Enter into a Credit Agreement

On June 1, 2015, MGE Energy Inc. entered into a Credit Agreement dated as of June 1, 2015 with various financial institutions, as lenders, and JPMorgan Chase Bank, N.A., as administrative agent. Also on June 1, 2015, Madison Gas and Electric Company entered into a Credit Agreement dated as of June 1, 2015 with various financial institutions, as lenders, and JPMorgan Chase Bank, N.A., as administrative agent, and a Credit Agreement dated as of June 1, 2015 with various financial institutions, as lenders, and U.S. Bank National Association, as administrative agent. The MGEE Credit Agreement, the MGE JPM Credit Agreement, and the MGE USB Credit Agreement are collectively referred to as the Credit Agreements. On June 1, 2015, in connection with the entry into the MGEE Credit Agreement, MGEE terminated its existing Credit Agreement dated as of July 30, 2010, as amended, with various financial institutions, as lenders, and JPMorgan Chase Bank, N.A., as Administrative Agent. Also on June 1, 2015, in connection with the entry into the MGE JPM Credit Agreement and the MGE USB Credit Agreement, MGE terminated its existing Credit Agreement dated as of July 30, 2010, as amended, with various financial institutions, as lenders, and JPMorgan Chase Bank, N.A., as Administrative Agent. On June 1, 2015, MGEE entered into the MGEE Credit Agreement. Under the MGEE Credit Agreement, MGEE may borrow funds on a revolving credit basis, and may request letters of credit, all in a maximum amount outstanding not to exceed $50 million. The MGEE Credit Agreement has an initial term expiring on June 1, 2020. MGEE may request up to two, one-year extensions of that term, which, if granted by the lenders in their sole discretion, would cause the MGEE Credit Agreement to expire on June 1, 2022. The MGEE Credit Agreement also allows MGEE to request increases in the aggregate commitments, and therefore the aggregate amount available for borrowing, up to an additional $25 million. Any such increase is subject to the existing lenders, new lenders, or some combination of both, agreeing in their sole discretion to increase the existing commitments or extend new commitments. Under the MGE JPM Credit Agreement, MGE may borrow funds on a revolving credit basis, and may request letters of credit, all in a maximum amount outstanding not to exceed $60 million. The MGE JPM Credit Agreement allows MGE to request increases in the aggregate commitments, and therefore the aggregate amount available for borrowing, up to an additional $30 million. Any such increase is subject to the existing lenders, new lenders, or some combination of both, agreeing in their sole discretion to increase the existing commitments or extend new commitments. Under the MGE USB Credit Agreement, MGE may borrow funds on a revolving credit basis in a maximum amount outstanding not to exceed $40 million. Both the MGE JPM Credit Agreement and the MGE USB Credit Agreement have a term expiring on June 1, 2020, subject to obtaining necessary regulatory approvals. The current regulatory authorization expires on December 31, 2015; however, MGE expects to file for, and obtain, authorization effectively extending that date initially to December 31, 2018, and ultimately to at least June 1, 2020. In the case of the MGE JPM Credit Agreement only, MGE may request up to two, one-year extensions of that term, which, if granted by the lenders in their sole discretion, would cause the June 1, 2020, date to become June 1, 2022. Borrowings under the Credit Agreements may bear interest at a rate based upon either a 'floating rate' or a 'Eurodollar Rate' adjusted for statutory reserve requirements, plus an adder based upon the credit ratings assigned to MGE's senior unsecured long-term debt securities.

MGE Energy, Inc. Declares Quarterly Dividend, Payable June 15, 2015

The board of directors of MGE Energy Inc. declared the regular quarterly dividend of $0.2825 per share on the outstanding shares of the company's common stock, payable June 15, 2015, to shareholders of record at the close of business June 1, 2015.

MGE Energy Inc. Presents at American Gas Association 2015 Financial Forum, May-17-2015

MGE Energy Inc. Presents at American Gas Association 2015 Financial Forum, May-17-2015 . Venue: JW Marriott Desert Springs, 74855 Country Club Drive, Palm Desert, CA 92260, United States.

 

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Industry Analysis

MGEE

Industry Average

Valuation MGEE Industry Range
Price/Earnings 18.7x
Price/Sales 2.3x
Price/Book 2.0x
Price/Cash Flow 11.6x
TEV/Sales 1.5x
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