Mge Energy Inc. (MGEE)
NASDAQ:MGEE
Want to see MGEE full AI Analyst Report?
Top Page
MGE Energy
(NASDAQ:MGEE)
Select Model
Select Model
Rating:61Neutral
Price Target:
$83.00
â–²(7.11% Upside)
Action:ReiteratedDate:04/22/26
The score is driven primarily by stable profitability and reasonable balance-sheet characteristics, offset by a sharp 2025 weakening in free cash flow and cash-to-earnings support. Technicals are neutral with limited trend strength, and valuation is only moderately supportive given a ~21 P/E and low ~1.2% yield; corporate events are modestly positive but include some dilution overhang from the ATM program.
Positive Factors
Regulated utility model
MGE’s core regulated utility operations produce predictable, rate‑regulated cash flows and captive customer demand. That structural revenue base reduces exposure to commodity cycles and supports multi‑year capital planning, making earnings and cash generation more durable for 2–6 months and beyond.
Negative Factors
Deteriorating free cash flow
A material swing to negative free cash flow in 2025 signals higher capital intensity or timing mismatches that impair internal funding. Persistent weak FCF reduces the company’s ability to self‑fund capex, support dividends, or absorb shocks, increasing reliance on external financing.
Read all positive and negative factors
Positive Factors
Negative Factors
Regulated utility model
MGE’s core regulated utility operations produce predictable, rate‑regulated cash flows and captive customer demand. That structural revenue base reduces exposure to commodity cycles and supports multi‑year capital planning, making earnings and cash generation more durable for 2–6 months and beyond.
Read all positive factors
MGE Energy (MGEE) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.95B
Dividend Yield2.36%
Average Volume (3M)135.28K
Price to Earnings (P/E)21.1
Beta (1Y)0.32
Revenue Growth9.85%
EPS Growth11.68%
CountryUS
Employees717
SectorUtilities
Sector Strength65
IndustryDiversified Utilities
Share Statistics
EPS (TTM)N/A
Shares Outstanding36,752,340
10 Day Avg. Volume172,661
30 Day Avg. Volume135,282
Financial Highlights & Ratios
PEG Ratio1.80
Price to Book (P/B)2.20
Price to Sales (P/S)3.85
P/FCF Ratio-35.82
Enterprise Value/Market Cap1.30
Enterprise Value/Revenue5.14
Enterprise Value/Gross Profit5.28
Enterprise Value/Ebitda12.54
Forecast
1Y Price Target
$74.00Price Target Upside-4.50% Downside
Rating ConsensusModerate Sell
Number of Analyst Covering1
EPS Forecast (FY)3.95
Revenue Forecast (FY)$765.10M
MGE Energy Business Overview & Revenue Model
Company Description
MGE Energy, Inc., through its subsidiaries, operates as a public utility holding company primarily in Wisconsin. It operates through Regulated Electric Utility Operations; Regulated Gas Utility Operations; Nonregulated Energy Operations; Transmiss...
How the Company Makes Money
MGE Energy makes most of its money through regulated utility operations conducted by Madison Gas and Electric (MGE). The core revenue stream is the sale and delivery of electricity and natural gas to customers within its authorized service territo...
MGE Energy Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
68
Positive
Cash Flow
57
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 743.65M | 676.94M | 690.43M | 714.52M | 606.58M |
| Gross Profit | 723.65M | 278.83M | 269.04M | 243.92M | 213.55M |
| EBITDA | 304.78M | 272.68M | 276.28M | 249.37M | 210.97M |
| Net Income | 135.89M | 120.57M | 117.70M | 110.95M | 105.76M |
Balance Sheet | |||||
| Total Assets | 3.16B | 2.83B | 2.68B | 2.52B | 2.37B |
| Cash, Cash Equivalents and Short-Term Investments | 6.62M | 21.30M | 11.14M | 11.60M | 17.44M |
| Total Debt | 935.73M | 787.45M | 780.01M | 727.17M | 641.92M |
| Total Liabilities | 1.85B | 1.60B | 1.54B | 1.44B | 1.34B |
| Stockholders Equity | 1.30B | 1.23B | 1.14B | 1.08B | 1.03B |
Cash Flow | |||||
| Free Cash Flow | -79.99M | 40.86M | 15.49M | -21.30M | -15.64M |
| Operating Cash Flow | 263.23M | 277.78M | 237.56M | 153.74M | 137.53M |
| Investing Cash Flow | -350.56M | -241.49M | -230.02M | -180.15M | -156.97M |
| Financing Cash Flow | 71.57M | -26.83M | -10.48M | 25.54M | -8.76M |
MGE Energy Technical Analysis
Negative
77.49
Price Trends
78.52
Negative
78.75
Negative
81.17
Negative
Market Momentum
0.26
Positive
46.84
Neutral
14.34
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MGEE, the sentiment is Negative. The current price of 77.49 is below the 20-day moving average (MA) of 77.92, below the 50-day MA of 78.52, and below the 200-day MA of 81.17, indicating a bearish trend. The MACD of 0.26 indicates Positive momentum. The RSI at 46.84 is Neutral, neither overbought nor oversold. The STOCH value of 14.34 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for MGEE.
MGE Energy Risk Analysis
MGE Energy disclosed 26 risk factors in its most recent earnings report. MGE Energy reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
MGE Energy Peers Comparison
UnderperformOutperform
Sector (66)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | $3.74B | 12.26 | 15.36% | 2.54% | -1.99% | -8.73% | |
66 Neutral | $4.45B | 22.16 | 6.28% | 4.09% | 9.06% | -29.09% | |
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
62 Neutral | $5.73B | 17.38 | 7.85% | 3.91% | 8.56% | 1.70% | |
61 Neutral | $2.95B | 21.08 | 10.59% | 2.36% | 9.85% | 11.68% | |
54 Neutral | $3.39B | 16.17 | 7.25% | 5.10% | 1.34% | 4.71% |
* Utilities Sector Average
MGEE
MGE Energy
80.22
-8.69
-9.77%
AVA
Avista
41.10
1.36
3.42%
BKH
Black Hills
75.29
16.52
28.12%
NWE
Northwestern
72.34
16.65
29.89%
OTTR
Otter Tail
89.24
10.31
13.06%
MGE Energy Corporate Events
Business Operations and StrategyExecutive/Board Changes
MGE Energy Promotes CFO Bushek to Executive Vice President
Positive
Apr 21, 2026
On April 17, 2026, the boards of MGE Energy and Madison Gas and Electric Company promoted Jared Bushek from Vice President – Chief Financial Officer and Treasurer to Executive Vice President – Chief Financial Officer and Treasurer of b...
Financial DisclosuresRegulatory Filings and Compliance
MGE Energy Releases New Investor Financial Presentation Disclosure
Neutral
Feb 27, 2026
On February 27, 2026, MGE Energy, Inc. posted a financial presentation on its Investor Relations website, making the materials available to shareholders and analysts. The company furnished the presentation to the Securities and Exchange Commission...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
MGE Energy Launches New $100 Million ATM Program
Positive
Feb 24, 2026
On February 24, 2026, MGE Energy, Inc. entered into an Equity Distribution Agreement with Guggenheim Securities and Morgan Stanley to sell up to $100 million of common stock through at-the-market offerings on Nasdaq and other permitted transaction...
Business Operations and StrategyPrivate Placements and Financing
MGE Energy Retires Final First Mortgage Bonds, Ends Indenture
Positive
Jan 29, 2026
On January 27, 2026, Madison Gas and Electric Company (MGE) redeemed the remaining $1.2 million of its outstanding 7.70% First Mortgage Bonds due 2028, which were the last series of first mortgage bonds issued under its longstanding 1946 Indenture...
Business Operations and StrategyPrivate Placements and Financing
MGE Energy Issues New Senior Notes Under Purchase Agreement
Positive
Jan 27, 2026
On January 22, 2026, MGE issued an aggregate $90 million of unsecured senior notes in three tranches—a $30 million 5.05% Series A due January 31, 2036, a $30 million 5.25% Series B due January 31, 2041, and a $30 million 5.79% Series C due J...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.