Symbols / MGEE Stock $73.65 -1.34% MGE Energy, Inc.

Utilities • Utilities - Regulated Electric • United States • NMS
MGEE (Stock) Chart
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Stock Fundamentals
Scroll to Statements
Index EQUITY
Sector Utilities
Industry Utilities - Regulated Electric
CEO Mr. Jeffrey M. Keebler
Exch · Country NMS · United States
Market Cap 2.78B
Enterprise Value 3.64B
Income 142.78M
Sales 750.39M
FCF (ttm) -180.88M
Book/sh 36.72
Cash/sh 0.26
Employees 726
Insider 10d —
IPO Mar 17, 1980
Div forward ($/yr)
Div TTM ($/yr)
Dividend Yield
Ex-Div Date
5Y Avg Yield
Yield vs 5Y Avg
Payout 48.08%
P/E 18.88
Forward P/E 17.35
PEG 4.12
P/S 3.70
P/B 2.01
P/C —
EV/EBITDA 12.62
EV/Sales 4.85
Quick Ratio 0.61
Current Ratio 1.15
Debt/Eq 69.74
LT Debt/Eq —
EPS (ttm) 3.90
EPS next Y 4.25
EPS Growth 15.90%
Revenue Growth 10.80%
EPS Gr Q/Q 16.60%
Rev Gr Q/Q —
Earnings (next) 2026-08-05
Earnings (prior) 2026-05-05
ROA 3.81%
ROE 10.95%
ROIC —
Gross Margin 41.35%
Oper. Margin 23.50%
Profit Margin 19.03%
Shs Outstand 37.75M
Shs Float 36.66M
Insider Own 0.33%
Instit Own 66.49%
Short Float 1.63%
Short Ratio 1.76
Short Interest 432.28K
52W High 94.00
vs 52W High -21.65%
52W Low 72.17
vs 52W Low 2.05%
Beta 0.75
Impl. Vol. 62.11%
Rel Volume 3.14
Avg Volume 234.05K
Volume 734.81K
Target (mean) $78.50
Tgt Median $78.50
Tgt Low $74.00
Tgt High $83.00
# Analysts 2
Recom Hold
Prev Close $74.65
Price $73.65
Change -1.34%
About

MGE Energy, Inc., through its subsidiaries, operates as a public utility holding company 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; purchases and distributes natural gas; owns and leases electric generating capacity; and plans, constructs, operates, maintains, and expands transmission facilities to provide transmission power services. It also generates electricity from coal-fired, gas-fired, and renewable energy sources and provides solar and wind generation, and battery storage services. As of December 31, 2025, the company owned and operated 811 miles of overhead electric distribution lines; 1,386 miles of underground electric distribution cables; 47 substations with an installed capacity of 1.2 million kVA; and gas facilities, including 3,117 miles of distribution mains, as well as supplied electric service to approximately 170,000 customers. MGE Energy, Inc. was incorporated in 2001 and is headquartered in Madison, Wisconsin.

Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$78.50
Mean price target
2. Current target
$73.65
Latest analyst target
3. DCF / Fair value
$-86.26
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$73.65
Low
$74.00
High
$83.00
Mean
$78.50

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-04-21 main Morgan Stanley Underweight → Underweight $78
2026-02-02 main Morgan Stanley Underweight → Underweight $73
2025-09-25 main Morgan Stanley Underweight → Underweight $75
2025-09-11 up Ladenburg Thalmann Sell → Neutral $83
2025-05-22 main Morgan Stanley Underweight → Underweight $74
2025-04-23 main Morgan Stanley Underweight → Underweight $75
2025-03-20 main Morgan Stanley Underweight → Underweight $80
2024-09-25 main Morgan Stanley Underweight → Underweight $74
2024-08-23 main Morgan Stanley Underweight → Underweight $71
2024-06-24 main Morgan Stanley Underweight → Underweight $65
2024-05-28 main Morgan Stanley Underweight → Underweight $68
2023-11-21 main Morgan Stanley Underweight → Underweight $62
2023-10-25 main Morgan Stanley Underweight → Underweight $61
2023-09-21 main Morgan Stanley Underweight → Underweight $65
2023-08-23 main Morgan Stanley Underweight → Underweight $63
2023-07-21 main Morgan Stanley Underweight → Underweight $67
2023-06-23 main Morgan Stanley Underweight → Underweight $68
2023-05-22 main Morgan Stanley Underweight → Underweight $70
2023-04-20 main Morgan Stanley — → Underweight $72
2023-03-21 main Morgan Stanley — → Underweight $68
News
RSS: Latest MGEE news
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-04-17 BUSHEK JARED JOSEPH Chief Financial Officer — 25,000 $0.00 $0
2026-03-11 BERBEE JAMES G Director — 372 $77.74 $28,985
2026-03-02 LAGERWALL JENNY LYNN Officer — 688 $0.00 $0
2026-03-02 GARNER MELISSA TYSON Officer — 1,374 $0.00 $0
2026-03-02 JICHA JOHN ANTHONY Officer — 945 $0.00 $0
2026-03-02 KEEBLER JEFFREY M Chief Executive Officer — 10,905 $0.00 $0
2026-03-02 RENLUND CARI ANNE General Counsel — 1,716 $0.00 $0
2026-03-02 BUSHEK JARED JOSEPH Chief Financial Officer — 3,684 $0.00 $0
2026-03-02 SMITH SCOTT ROBERT Officer — 1,116 $0.00 $0
2026-03-02 LORENZ JAMES JEROME Officer — 1,390 $0.00 $0
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
743.65
+9.85%
676.94
-1.95%
690.43
-3.37%
714.52
Operating Revenue
743.65
+9.85%
676.94
-1.95%
690.43
-3.37%
714.52
Cost Of Revenue
434.76
+9.20%
398.12
-5.52%
421.39
-10.46%
470.60
Reconciled Cost Of Revenue
434.76
+9.20%
398.12
-5.52%
421.39
-10.46%
470.60
Gross Profit
308.90
+10.78%
278.83
+3.64%
269.04
+10.30%
243.92
Operating Expense
138.24
+4.28%
132.57
+8.08%
122.66
+15.52%
106.18
Total Expenses
573.00
+7.97%
530.68
-2.46%
544.05
-5.67%
576.78
Operating Income
170.65
+16.68%
146.26
-0.08%
146.38
+6.27%
137.74
Total Operating Income As Reported
170.65
+16.68%
146.26
-0.08%
146.38
+6.27%
137.74
EBITDA
304.78
+11.77%
272.68
-1.31%
276.28
+10.79%
249.37
Normalized EBITDA
304.78
+11.77%
272.68
-1.31%
276.28
+10.79%
249.37
Reconciled Depreciation
114.32
+5.29%
108.58
+8.20%
100.35
+17.30%
85.55
EBIT
190.45
+16.06%
164.09
-6.73%
175.93
+7.39%
163.82
Net Income
135.89
+12.71%
120.57
+2.44%
117.70
+6.08%
110.95
Pretax Income
156.65
+19.43%
131.16
-9.85%
145.50
+6.07%
137.18
Net Non Operating Interest Income Expense
-33.80
-2.64%
-32.93
-8.22%
-30.43
-14.19%
-26.65
Interest Expense Non Operating
33.80
+2.64%
32.93
+8.22%
30.43
+14.19%
26.65
Net Interest Income
-33.80
-2.64%
-32.93
-8.22%
-30.43
-14.19%
-26.65
Interest Expense
33.80
+2.64%
32.93
+8.22%
30.43
+14.19%
26.65
Other Income Expense
19.80
+11.03%
17.83
-39.64%
29.55
+13.29%
26.08
Other Non Operating Income Expenses
19.80
+11.03%
17.83
-39.64%
29.55
+13.29%
26.08
Tax Provision
20.77
+95.97%
10.60
-61.89%
27.80
+6.02%
26.22
Tax Rate For Calcs
0.00
+62.20%
0.00
-57.07%
0.00
+0.00%
0.00
Tax Effect Of Unusual Items
0.00
0.00
0.00
0.00
Net Income Including Noncontrolling Interests
135.89
+12.71%
120.57
+2.44%
117.70
+6.08%
110.95
Net Income From Continuing Operation Net Minority Interest
135.89
+12.71%
120.57
+2.44%
117.70
+6.08%
110.95
Net Income From Continuing And Discontinued Operation
135.89
+12.71%
120.57
+2.44%
117.70
+6.08%
110.95
Net Income Continuous Operations
135.89
+12.71%
120.57
+2.44%
117.70
+6.08%
110.95
Normalized Income
135.89
+12.71%
120.57
+2.44%
117.70
+6.08%
110.95
Net Income Common Stockholders
135.89
+12.71%
120.57
+2.44%
117.70
+6.08%
110.95
Diluted EPS
3.72
+11.71%
3.33
+2.46%
3.25
+5.86%
3.07
Basic EPS
3.72
+11.71%
3.33
+2.46%
3.25
+5.86%
3.07
Basic Average Shares
36.53
+0.89%
36.21
+0.13%
36.16
+0.00%
36.16
Diluted Average Shares
36.57
+0.92%
36.24
+0.15%
36.19
+0.03%
36.17
Diluted NI Availto Com Stockholders
135.89
+12.71%
120.57
+2.44%
117.70
+6.08%
110.95
Depreciation Amortization Depletion Income Statement
114.32
+5.29%
108.58
+8.20%
100.35
+17.30%
85.55
Depreciation And Amortization In Income Statement
114.32
+5.29%
108.58
+8.20%
100.35
+17.30%
85.55
Other Taxes
23.92
-0.28%
23.99
+7.54%
22.30
+8.11%
20.63
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Assets
3,155.42
+11.58%
2,827.96
+5.70%
2,675.46
+6.27%
2,517.60
Current Assets
228.55
+0.56%
227.26
-4.59%
238.20
-2.17%
243.48
Cash Cash Equivalents And Short Term Investments
5.67
-73.40%
21.30
+91.22%
11.14
-4.00%
11.60
Cash And Cash Equivalents
5.67
-73.40%
21.30
+91.22%
11.14
-4.00%
11.60
Receivables
113.31
+16.60%
97.18
+1.72%
95.53
-13.08%
109.91
Accounts Receivable
57.56
+12.25%
51.28
+9.72%
46.73
-15.65%
55.41
Gross Accounts Receivable
66.14
+13.67%
58.18
+9.22%
53.27
-14.71%
62.46
Allowance For Doubtful Accounts Receivable
-8.58
-24.23%
-6.91
-5.63%
-6.54
+7.28%
-7.05
Other Receivables
12.98
+28.97%
10.07
-35.54%
15.62
+36.78%
11.42
Inventory
64.18
-5.13%
67.64
-6.89%
72.65
-2.19%
74.28
Prepaid Assets
19.31
+5.02%
18.39
-17.57%
22.31
+16.61%
19.13
Other Current Assets
26.08
+14.63%
22.75
-37.78%
36.57
+28.04%
28.56
Total Non Current Assets
2,926.87
+12.54%
2,600.69
+6.71%
2,437.26
+7.17%
2,274.12
Net PPE
2,572.87
+12.48%
2,287.35
+7.48%
2,128.21
+7.97%
1,971.10
Gross PPE
3,718.53
+11.19%
3,344.40
+13.82%
2,938.37
+7.86%
2,724.25
Accumulated Depreciation
-1,145.66
-8.38%
-1,057.05
-30.47%
-810.16
-7.57%
-753.15
Construction In Progress
292.97
+111.98%
138.21
+25.54%
110.09
+4.11%
105.75
Investments And Advances
127.91
+8.37%
118.03
+4.62%
112.82
+6.55%
105.88
Long Term Equity Investment
103.02
+11.24%
92.62
+7.08%
86.50
+7.28%
80.62
Other Investments
2.30
+0.00%
2.30
+0.00%
2.30
+0.00%
2.30
Non Current Accounts Receivable
—
—
—
0.56
Non Current Deferred Assets
—
—
—
23.81
Other Non Current Assets
18.35
-30.20%
26.29
+26.73%
20.74
-14.87%
24.36
Total Liabilities Net Minority Interest
1,851.48
+15.88%
1,597.82
+4.07%
1,535.38
+6.93%
1,435.93
Current Liabilities
296.71
+136.30%
125.56
-20.10%
157.16
-30.17%
225.06
Payables And Accrued Expenses
145.19
+38.41%
104.89
+15.64%
90.71
+13.01%
80.27
Payables
117.67
+51.90%
77.47
+18.36%
65.45
+10.31%
59.33
Accounts Payable
117.67
+51.90%
77.47
+18.36%
65.45
+10.31%
59.33
Current Accrued Expenses
27.51
+0.31%
27.43
+8.58%
25.26
+20.68%
20.93
Employee Benefits
51.10
+1.89%
50.16
-8.91%
55.06
+2.71%
53.61
Current Debt And Capital Lease Obligation
116.16
+2097.92%
5.29
-87.75%
43.15
-65.43%
124.81
Current Debt
116.16
+2097.92%
5.29
-87.75%
43.15
-65.43%
124.81
Other Current Borrowings
—
5.29
+2.70%
5.15
-90.53%
54.31
Other Current Liabilities
35.36
+129.87%
15.38
-33.97%
23.30
+16.60%
19.98
Total Non Current Liabilities Net Minority Interest
1,554.78
+5.60%
1,472.26
+6.82%
1,378.23
+13.82%
1,210.86
Liabilities Heldfor Sale Non Current
76.29
+10.35%
69.13
+27.01%
54.43
+8.30%
50.26
Long Term Debt And Capital Lease Obligation
792.21
+3.73%
763.70
+3.64%
736.86
+22.33%
602.35
Long Term Debt
792.21
+3.73%
763.70
+6.24%
718.82
+22.82%
585.25
Long Term Capital Lease Obligation
—
18.47
+2.37%
18.04
+5.44%
17.11
Defined Pension Benefit
164.99
+24.74%
132.26
+40.86%
93.90
+36.33%
68.87
Non Current Pension And Other Postretirement Benefit Plans
51.10
+1.89%
50.16
-8.91%
55.06
+2.71%
53.61
Non Current Deferred Liabilities
386.41
+6.92%
361.38
+10.88%
325.92
+8.31%
300.93
Non Current Deferred Taxes Liabilities
386.41
+6.92%
361.38
+10.88%
325.92
+8.31%
300.93
Other Non Current Liabilities
63.40
-1.79%
64.55
+47.91%
43.64
-6.61%
46.73
Stockholders Equity
1,303.94
+6.00%
1,230.14
+7.90%
1,140.07
+5.40%
1,081.67
Common Stock Equity
1,303.94
+6.00%
1,230.14
+7.90%
1,140.07
+5.40%
1,081.67
Capital Stock
36.54
+0.14%
36.49
+0.90%
36.16
+0.00%
36.16
Common Stock
36.54
+0.14%
36.49
+0.90%
36.16
+0.00%
36.16
Share Issued
36.54
+0.14%
36.49
+0.90%
36.16
+0.00%
36.16
Ordinary Shares Number
36.54
+0.14%
36.49
+0.90%
36.16
+0.00%
36.16
Additional Paid In Capital
434.96
+1.27%
429.51
+8.26%
396.75
+0.28%
395.66
Retained Earnings
832.43
+8.94%
764.13
+8.06%
707.16
+8.82%
649.85
Total Equity Gross Minority Interest
1,303.94
+6.00%
1,230.14
+7.90%
1,140.07
+5.40%
1,081.67
Total Capitalization
2,096.14
+5.13%
1,993.84
+7.26%
1,858.89
+11.52%
1,666.92
Working Capital
-68.16
-167.02%
101.70
+25.49%
81.04
+340.01%
18.42
Invested Capital
2,212.30
+10.66%
1,999.12
+5.10%
1,902.04
+6.16%
1,791.73
Total Debt
908.37
+18.13%
768.98
-1.41%
780.01
+7.27%
727.17
Net Debt
902.70
+20.73%
747.68
-0.42%
750.83
+7.50%
698.46
Capital Lease Obligations
—
18.47
+2.37%
18.04
+5.44%
17.11
Net Tangible Assets
1,303.94
+6.00%
1,230.14
+7.90%
1,140.07
+5.40%
1,081.67
Tangible Book Value
1,303.94
+6.00%
1,230.14
+7.90%
1,140.07
+5.40%
1,081.67
Available For Sale Securities
22.59
-2.28%
23.12
-3.78%
24.03
+4.65%
22.96
Commercial Paper
—
0.00
-100.00%
38.00
-46.10%
70.50
Interest Payable
10.27
-11.15%
11.56
+23.32%
9.37
+19.12%
7.87
Investmentin Financial Assets
22.59
-2.28%
23.12
-3.78%
24.03
+4.65%
22.96
Other Inventories
26.33
-16.31%
31.46
-19.88%
39.26
-3.79%
40.81
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
263.23
-5.24%
277.78
+16.93%
237.56
+54.53%
153.74
Cash Flow From Continuing Operating Activities
263.23
-5.24%
277.78
+16.93%
237.56
+54.53%
153.74
Net Income From Continuing Operations
135.89
+12.71%
120.57
+2.44%
117.70
+6.08%
110.95
Depreciation Amortization Depletion
114.32
+5.29%
108.58
+8.20%
100.35
+17.30%
85.55
Depreciation And Amortization
114.32
+5.29%
108.58
+8.20%
100.35
+17.30%
85.55
Other Non Cash Items
1.00
-87.98%
8.32
+92.37%
4.33
+148.91%
-8.84
Pension And Employee Benefit Expense
-13.02
-83.02%
-7.12
+47.46%
-13.54
-66.34%
-8.14
Provisionand Write Offof Assets
8.80
+0.00%
8.80
+398.87%
1.76
+0.00%
1.76
Deferred Tax
7.62
+1153.78%
0.61
-97.36%
23.00
-1.86%
23.43
Deferred Income Tax
7.62
+1153.78%
0.61
-97.36%
23.00
-1.86%
23.43
Operating Gains Losses
-15.05
-42.52%
-10.56
+32.61%
-15.67
+9.33%
-17.28
Gain Loss On Investment Securities
10.99
+24.37%
8.83
+3.83%
8.51
—
Change In Working Capital
10.64
-74.33%
41.46
+581.06%
6.09
+112.44%
-48.93
Change In Receivables
-21.75
-231.31%
-6.57
-158.76%
11.17
+166.81%
-16.73
Changes In Account Receivables
—
—
—
-16.73
Change In Inventory
5.07
-8.50%
5.54
+752.00%
-0.85
+96.18%
-22.23
Change In Prepaid Assets
-0.92
-123.57%
3.92
+223.38%
-3.18
-393.72%
1.08
Change In Payables And Accrued Expense
8.48
+30.69%
6.49
+224.64%
-5.21
-202.08%
5.10
Change In Payable
8.48
+30.69%
6.49
+224.64%
-5.21
-202.08%
5.10
Change In Account Payable
8.48
+30.69%
6.49
+224.64%
-5.21
-202.08%
5.10
Change In Other Working Capital
20.62
-17.76%
25.07
+2690.19%
-0.97
+85.92%
-6.88
Change In Other Current Assets
-3.10
-565.41%
0.67
-30.00%
0.95
+125.48%
-3.73
Change In Other Current Liabilities
2.24
-64.62%
6.34
+52.04%
4.17
+174.94%
-5.56
Investing Cash Flow
-350.56
-45.17%
-241.49
-4.99%
-230.02
-27.69%
-180.15
Cash Flow From Continuing Investing Activities
-350.56
-45.17%
-241.49
-4.99%
-230.02
-27.69%
-180.15
Capital Expenditure
-343.22
-44.86%
-236.93
-6.69%
-222.07
-26.88%
-175.03
Capital Expenditure Reported
-343.22
-44.86%
-236.93
-6.69%
-222.07
-26.88%
-175.03
Net Investment Purchase And Sale
-9.50
-98.16%
-4.79
+31.49%
-7.00
-34.91%
-5.18
Purchase Of Investment
-9.50
-98.16%
-4.79
+31.49%
-7.00
-34.91%
-5.18
Net Other Investing Changes
2.15
+836.96%
0.23
+124.11%
-0.95
-1462.86%
0.07
Financing Cash Flow
71.57
+366.77%
-26.83
-155.91%
-10.48
-141.04%
25.54
Cash Flow From Continuing Financing Activities
71.57
+366.77%
-26.83
-155.91%
-10.48
-141.04%
25.54
Net Issuance Payments Of Debt
137.24
+1902.33%
6.85
-86.94%
52.49
-38.33%
85.11
Issuance Of Debt
50.00
+0.00%
50.00
-64.11%
139.30
+457.20%
25.00
Repayment Of Debt
-5.29
-2.70%
-5.15
+90.53%
-54.31
-1010.94%
-4.89
Long Term Debt Issuance
50.00
+0.00%
50.00
-64.11%
139.30
+457.20%
25.00
Long Term Debt Payments
-5.29
-2.70%
-5.15
+90.53%
-54.31
-1010.94%
-4.89
Net Long Term Debt Issuance
44.72
-0.31%
44.85
-47.22%
84.99
+322.58%
20.11
Net Short Term Debt Issuance
92.53
+343.49%
-38.00
-16.92%
-32.50
-150.00%
65.00
Net Common Stock Issuance
3.75
-88.13%
31.61
0.00
0.00
Common Stock Dividend Paid
-67.59
-6.28%
-63.60
-5.30%
-60.39
-5.03%
-57.50
Cash Dividends Paid
-67.59
-6.28%
-63.60
-5.30%
-60.39
-5.03%
-57.50
Net Other Financing Charges
-1.84
-8.64%
-1.69
+34.39%
-2.58
-24.56%
-2.07
Changes In Cash
-15.76
-266.42%
9.47
+421.89%
-2.94
-239.33%
-0.87
Beginning Cash Position
24.50
+63.02%
15.03
-16.37%
17.97
-4.60%
18.84
End Cash Position
8.74
-64.34%
24.50
+63.02%
15.03
-16.37%
17.97
Free Cash Flow
-79.99
-295.76%
40.86
+163.78%
15.49
+172.74%
-21.30
Interest Paid Supplemental Data
35.76
+4.22%
34.31
+16.19%
29.53
+13.75%
25.96
Income Tax Paid Supplemental Data
6.35
—
9.80
+209.54%
3.17
Common Stock Issuance
3.75
-88.13%
31.61
0.00
0.00
Dividend Received CFO
—
8.83
+3.83%
8.51
+20.00%
7.09
Earnings Losses From Equity Investments
-13.01
-5.98%
-12.28
-15.46%
-10.63
-16.36%
-9.14
Issuance Of Capital Stock
3.75
-88.13%
31.61
0.00
0.00
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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