Company Reports

MGE Energy reported second-quarter earnings per share of $0.89, up from $0.72 in the same year-ago period.

MGE Energy reported first-quarter operating earnings per share of $1.32, up from $1.14 in the same-year-ago period. Additionally, MGE entered into a forward equity sale agreement for 3.3 million shares.

MGE Energy is an electric and gas utility serving Madison, Wisconsin, and surrounding areas, with approximately $1.7 billion in rate base supported by constructive Wisconsin regulation.

MGE Energy reported full-year 2025 operating earnings per share of $3.72, up from $3.33 in 2024.

MGE Energy is an electric and gas utility serving Madison, Wisconsin, and surrounding areas, with approximately $1.7 billion in rate base supported by constructive Wisconsin regulation.

MGE Energy reported third-quarter operating earnings per share of $1.22, up from $1.13 in the same year-ago period.

MGE Energy is an electric and gas utility serving Madison, Wisconsin, and surrounding areas, with approximately $1.6 billion in rate base supported by constructive Wisconsin regulation.

MGE Energy is an electric and gas utility serving Madison, Wisconsin, and surrounding areas, with approximately $1.6 billion in rate base supported by constructive Wisconsin regulation.

MGE Energy reported second-quarter operating earnings per share of $0.73, up from $0.66 in the same year-ago period.

MGE Energy reported 2024 operating earnings per share of $1.14, up from $0.93 in the same year-ago period, which puts the company on track to meet our full-year expectations.

Utilities have limited direct exposure to the tariffs announced by the Trump administration, but falling energy demand or regulatory pushback to utilities' investment plans could slow earnings growth if economic conditions deteriorate.

MGE Energy is an electric and gas utility serving Madison, Wisconsin, and surrounding areas, with approximately $1.6 billion in rate base supported by highly constructive state regulation.

MGE Energy reported 2024 operating earnings per share of $3.33, up from $3.25 in 2023. This was below our full-year estimate, which assumed normal weather.

We are increasing our fair value estimate for MGE Energy to $82 per share, up $3 from our previous estimate after incorporating year-to-date financial updates and state regulatory activity.

MGE Energy is an electric and gas utility serving Madison, Wisconsin, and surrounding areas, with approximately $1.5 billion in rate base supported by highly constructive state regulation.

We are initiating coverage of MGE Energy with a $79 fair value estimate and narrow moat rating. We currently view the shares as overvalued, trading in 2-star territory.

MGE Energy is an electric and gas utility serving Madison, Wisconsin, and surrounding areas, with approximately $1.5 billion in rate base supported by highly constructive state regulation.