Reading the tape
NASDAQ: MGEE
MGE Energy, Inc.
Utilities · Diversified Utilities
Market Cap
$2.94B
52w High
$94.00
52w Low
$72.17
P/E
21.54
Volume
148.98K
Outstanding Shares
36.75M
Price vs Fundamentals
Why The Stock Is Moving
Mixed / unclearLow confidence
Note: The most recent financial data is over 3 months old. Metrics shown may not reflect the latest reporting period.
1Y Price: -11.85%Revenue (TTM): 9.85%FCF (TTM): -295.76%P/E: 8th pct
What changed
The stock fell 11.85% over the last year. Revenue grew 9.85% over the trailing twelve months. Operating margin moved from 21.61% to 22.95%. Free cash flow declined 295.76% over the trailing twelve months.
What the market seems to be pricing
The stock has moved lower against modestly improving underlying metrics. The operating data does not yet tell a clear story — the move may reflect sentiment, sector rotation, or macro factors rather than company-specific earnings power.
What would invalidate this read
Operating margin currently stands at 22.95%. A decisive move in revenue — currently up 9.85% — would be the clearest signal to resolve the ambiguity.
Company profile
MGE Energy, Inc., through its subsidiaries, operates as a public utility holding company primarily in Wisconsin.
CEOJeffrey Keebler
SectorUtilities
IndustryDiversified Utilities
Employees717
IPO dateMar 17, 1980
Valuation
Forward P/E—
EV/EBITDA12.45
Enterprise value$3.79B
Stock splits
Feb 10, 2014↑ Forward
Every 2 shares became 3
Feb 21, 1996↑ Forward
Every 2 shares became 3
Jan 22, 1992↑ Forward
Every 2 shares became 3
Profitability & growth
Revenue growth10.58%
Gross margin97.31%▲136.25%vs FY2024
Operating margin22.95%▲6.21%vs FY2024
ROE10.42%▲6.33%vs FY2024
Analyst consensus
RatingHold
Target price$73.00▼8.88%
0
Buy
3
Hold
1
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
May 6, 2026
Q2 FY26 · EPS est $1.13 · Revenue est $227.06M
View
Dividends
$1.88/shareQuarterlyDividend Aristocrat · 33yrAt RiskMGEE pays a dividend with a 2.34% dividend yield, 33 consecutive years of growth, growing at 5.07% annually, covered -1.2× by free cash flow.
Dividend Yield
2.34%
Annual Div / Share
$1.88
5yr CAGR
+5.07%
Doubles every ~14.0yr
Payout Ratio
49.74%
At Risk
Dividend Growth Rate
3yr CAGR
+5.18%
5yr CAGR
+5.07%
10yr CAGR
+4.82%
Dividend Safety
4/10At Risk
Dividend History
Annual dividends paid per share
YearAnnual DivYoY
2025$1.85+5.4%
2024$1.75+5.1%
2023$1.67+5.0%
2022$1.59+5.0%
2021$1.51+4.8%
2020$1.45+4.7%
2019$1.38+4.5%
Income Projection
Invest
$
Growth rate:
Reinvest dividends
Today
$23/yr
$2/mo
In 5 yrs
$30/yr+28%
$2/mo
In 10 yrs
$38/yr+64%
$3/mo
| Today | In 5 yrs | In 10 yrs |
|---|---|---|
$23/yr $2/mo | $30/yr+28% $2/mo | $38/yr+64% $3/mo |
Yield-on-cost grows from 2.34% → 3.84% over 10yr
Analysis
Dividend Strengths
Dividend Aristocrat
MGEE has raised its dividend for 33 consecutive years — qualifying as a Dividend Aristocrat, demonstrating long-term commitment to shareholder income.
Strong dividend growth rate
The 5-year CAGR of 5.07% meaningfully outpaces inflation, compounding real income growth for long-term holders.
Risks to Watch
Dividend exceeds free cash flow
Free cash flow covers only -1.18× the dividend. The company is paying out more than it generates in cash, which is unsustainable without borrowing or asset sales.