MGE Energy, Inc. (MGEE) AI Stock Analysis

MGE Energy, Inc. operates as a public utility holding company based in Madison, Wisconsin. The company is organized into segments including Regulated Electric Utility Operations, Regulated Gas Utility Operations, Nonregulated Energy Operations, Transmission Investments, and All Other. In its core operations, MGE Energy generates, purchases, and distributes electricity, utilizing generation assets located in Wisconsin and Iowa across coal-fired, gas-fired, and renewable energy sources. It also manages transmission facilities and supplements supplies through power purchase agreements. As of December 31, 2021, the company provided electric services to approximately 159,000 customers in Dane County and natural gas to approximately 169,000 customers across seven Wisconsin counties.

Revenue expanded to $743.7M in FY2025, representing revenue growth of 9.9% after declining 2.0% to $676.9M in FY2024 and 3.4% to $690.4M in FY2023. Across the 5-year period from FY2022 to FY2025, revenue grew at a CAGR of 0.8%. Operating margin expanded from 19.3% in FY2022 to 21.6% in FY2024 and 22.9% in FY2025. Annual net income grew from $111.0M in FY2022 to $135.9M in FY2025, with EPS increasing from $3.06 to $3.72. For the latest quarter ended June 30, 2026, quarterly revenue growth was 1.1% year-over-year, while quarterly earnings growth reached 23.6%.

As of June 30, 2026, MGE Energy held $10.7M in cash and short-term investments against total debt of $899.6M, resulting in net debt of $888.9M. Total assets were $3.30B, while shareholders' equity totaled $1.44B, generating a debt-to-equity ratio of 0.62 and a current ratio of 1.14. Operating cash flow reached $263.2M in FY2025. Capital expenditures of $343.2M drove free cash flow to -$80.0M, compared to $40.9M in FY2024. Dividends paid in FY2025 were $67.6M.

MGE Energy has a market capitalization of $2.73B and an enterprise value of $3.66B. The company trades at a trailing P/E of 17.8x, below the 20.6x median for US-listed Utilities peers. Its forward P/E of 25.3x stands above the peer median of 17.2x. The enterprise value to EBITDA multiple is 11.3x, compared to the peer median of 12.1x. Over the past year, the stock fell 12.2%, while the S&P 500 (SPY) returned 16.8%. Over 5 years, the stock returned 7.2%, trailing the S&P 500 return of 83.0%.

MGE Energy pays a quarterly dividend with an annualized forward dividend of $2.03 per share, yielding 2.81%. Its payout ratio is 47.5%. The company has paid dividends for 40 consecutive years, achieving a 5-year annualized dividend growth rate of 5.1%. The last ex-dividend date was September 1, 2026.

Wall Street analyst ratings for MGE Energy include 1 Strong Buy, 1 Buy, 3 Hold, 0 Sell, and 1 Strong Sell. The mean price target is $76.67, indicating 6.1% upside compared to the last close of $72.27 on October 16, 2026. For the fiscal year ending December 31, 2026, consensus estimates project EPS of $3.98 and revenue of $781.4M. The company beat EPS estimates in 3 of the last 4 quarters, and its next earnings date is November 4, 2026.

This page is an AI-written research summary of MGE Energy, Inc. (MGEE). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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