MGE Energy Inc entered a material agreement; took on a material financial obligation
SEC 8-KRead source ↗
MGE Energy Inc is a US-listed company in the multi-utilities industry. Its financial year ends in December.
Stock price today
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Third-party market data · may be delayed
Model estimate per share
~$65
Forward price-to-earnings vs peers
Base case. Range ~$65–$81. Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings.
Price vs value
No Buy/Hold/Sell rating is issued: limited reported history: available models are shown without a Buy/Hold/Sell rating.
MGE Energy Inc valuation: adjust assumptions and compare models →
Who’s trading
What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.
- Insiders1 buying, 0 selling4 purchases and 0 sales by directors and officers, last 12 monthsInsider trades
- Funds199 adding, 102 cuttingOf 49 active managers that changed their stake, 30 added; quarter to June 30, 2026Fund buyers and sellers
The Fundamentalytics view
Current signal Results well ahead of expectations: Reported earnings per share beat the analysts' consensus estimate by 16% in the quarter to 2026-06-30, the 3rd beat in the last four quarters.
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
Highlights
How we pick theseStrengths
Nothing in MGE Energy Inc's latest figures clears our strength thresholds.
Things to watch
- Results due soon. Results are expected around 4 November; the share price can move sharply on the day.
Latest results
- Earnings per share
- $0.89 against an average estimate of $0.77: beat by 15.6%
- Share reaction
- +1.2% in the first session after the results on August 5, 2026, against -0.4% for the S&P 500
- Next report
- November 4, 2026; average EPS estimate $1.16
Price chart
- 1 day+2.2%
- 1 week+2.4%
- 1 month+6.4%
- This year-2.1%
- 1 year-6.9%
- 5 years+9.3%
- S&P 500 this year+11.2%
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Third-party market data · may be delayed
At a glance
Earnings
- Last results
- August 5, 2026
- Next results (est.)
- November 4, 2026
News & updates
Company announcements, filed results and changes that matter to shareholders.
- Agreement
- Announcement
MGE Energy Inc disclosed a material event
SEC 8-KRead source ↗ - Results
MGE Energy Inc reported results; made a public disclosure
SEC 8-KRead source ↗
Valuation models
We value MGE Energy Inc as an utility or power producer, with every model that fits that kind of business. Cost of equity 7.1%: the 10-year Treasury yield (4.9%) plus a beta of 0.47 times a 4.5% equity risk premium.
| Model | Value per share | In the combined value? |
|---|---|---|
| Utility earnings model Net income growing 3% a year, discounted at 8%: for regulated investment that makes free cash flow negative. | — | Does not apply: net income is not positive |
| Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. | ~$65 ~$65–$81 | Included |
| Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. | — | Does not apply: no twelve-month earnings or share count in the filings yet |
| Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. | — | Does not apply: no twelve-month earnings or share count in the filings yet |
| Dividend discount (two-stage) Dividends for five years at the growth the business can fund, then a steady payout and growth. | — | Does not apply: no twelve-month earnings or share count in the filings yet |
| Combined value Weighted average of the models that apply: the primary model (utility earnings model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. | ~$65 ~$65–$81 | 1 model |
Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare MGE Energy Inc with utilities and power producers in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.
Moat
Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Low.
Forecasts and guidance
Next results: November 4, 2026, after the close. Analysts expect revenue of $185m and EPS of $1.16 (range $1.13 to $1.19) for the quarter.
Analysts' consensus
| Fiscal year | EPS | Growth | Revenue | Growth |
|---|---|---|---|---|
| Current | $3.99 | +7% | $780m | +5% |
| Next | $4.20 | +5% | $820m | +5% |
Next year's EPS estimate has moved +1.3% in 90 days, across 5 analysts.
How the EPS forecast has moved
The consensus EPS forecast for the current fiscal year is +1.5% on 90 days ago. In the last 30 days, 0 analysts raised MGE Energy Inc's forecast and 0 cut it.
Average of analysts' published estimates (third-party data).
View chart data
| Period | Current fiscal year | Next fiscal year |
|---|---|---|
| 90 days ago | $3.93 | $4.14 |
| 60 days ago | $3.97 | $4.24 |
| 30 days ago | $3.99 | $4.20 |
| 7 days ago | $3.99 | $4.20 |
| Now | $3.99 | $4.20 |
Earnings against estimates
| Quarter to | Estimate | Actual | Surprise |
|---|---|---|---|
| Jun 2026 | $0.77 | $0.89 | +15.6% |
| Mar 2026 | $1.13 | $1.32 | +16.8% |
| Dec 2025 | $0.64 | $0.64 | 0.0% |
| Sept 2025 | $1.19 | $1.22 | +2.5% |
Adjusted EPS as companies report it, against the average analyst estimate.
Positioning
- Short interest
- 5.8% of tradable shares
- Days to cover
- 7.63 at average volume
- Short interest, 1 month
- −8% to October 15, 2026
- Held by institutions
- 70% of shares
- Held by insiders
- 0.3% of shares
- Employees
- 726 full time
Share-price performance
Market data may be delayedReturn and risk by year
| Calendar year | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 to date |
|---|---|---|---|---|---|---|
| Return | ||||||
| MGEE | +20% | −13% | +5% | +33% | −15% | −2% |
| Industry peers (median) | +10% | +3% | −3% | +14% | +14% | +10% |
| S&P 500 | +29% | −18% | +26% | +25% | +18% | +11% |
| Months that ended higher | ||||||
| MGEE | 67% | 42% | 50% | 42% | 33% | 55% |
| S&P 500 | 75% | 42% | 67% | 75% | 75% | 46% |
| Largest fall from a high during the year | ||||||
| MGEE | −11% | −27% | −19% | −15% | −16% | −18% |
| S&P 500 | −5% | −25% | −10% | −8% | −19% | −9% |
Worst fall since November 2, 2015: 34% from February 18, 2020 to March 12, 2020. Getting back needed a 51% gain, reached on August 5, 2021, 511 days after the low.
Price behaviour
- 52-week range
- $68.49 – $83.68
- From 52-week high
- −10.0%
- vs 50-day average
- +2.3%
- vs 200-day average
- −2.0%
- Volatility (1 year)
- 21%
- Beta vs S&P 500
- -0.09
Share price after results
- Next day
- 8 up, 4 down typical move ±1.5%
- After a week
- 6 up, 6 down typical move ±3.1%
- After a month
- 5 up, 7 down typical move ±5.3%
| Results released | Next day | S&P 500 next day | 5 days | 21 days |
|---|---|---|---|---|
| August 5, 2026 | +1.2% | −0.4% | +1.8% | −2.3% |
| May 5, 2026 | +0.9% | +2.2% | −6.0% | −7.2% |
| February 24, 2026 | +0.1% | +1.6% | +0.3% | −5.9% |
| November 5, 2025 | +0.3% | −0.7% | +0.9% | −5.0% |
| August 6, 2025 | −0.5% | +0.7% | +1.5% | +0.8% |
| May 7, 2025 | −1.2% | +1.1% | −1.9% | −3.1% |
| February 25, 2025 | +0.3% | −0.4% | −1.8% | −1.7% |
| November 6, 2024 | +7.2% | +3.3% | +19.1% | +11.0% |
| August 7, 2024 | −0.9% | +1.6% | −0.2% | +1.8% |
| May 8, 2024 | +2.3% | +0.6% | +0.9% | −2.9% |
| February 21, 2024 | −0.8% | +2.2% | −2.1% | +18.6% |
| November 2, 2023 | +2.8% | +2.8% | −1.0% | +3.6% |
Fundamentals
Where the revenue comes from
| Line of business | Revenue | YoY |
|---|---|---|
| Electric | $532M | ▲ 6.8% |
| Gas | $211M | ▲ 18.4% |
| Non Regulated Energy | $677,000 | ▼ 1.0% |
These categories overlap or exclude eliminations, so shares aren't shown.
From MGE Energy Inc's 10-K filed February 24, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.
Who owns it
Funds buying and selling- Reported value
- $2.2B
- Institutions reporting
- 333
- Shares held vs prior quarter
- ▲ 21.6%
- Positions opened / closed
- 53 / 31
| Manager | Value | Shares | Share of 13F value | Shares QoQ |
|---|---|---|---|---|
| Blackrock, Inc. | $497M | 6.1M | 23.0% | ▲ 11.6% |
| Vanguard Portfolio Management LLC | $228M | 2.8M | 10.6% | ▲ 4.9% |
| State Street Corp | $167M | 2.0M | 7.7% | ▲ 6.8% |
| Vanguard Capital Management LLC | $139M | 1.7M | 6.4% | ▲ 3.8% |
| Geode Capital Management, LLC | $82M | 1.0M | 3.8% | ▲ 8.6% |
| Zimmer Partners, LP | $81.5M | 1.0M | 3.8% | New |
| Dimensional Fund Advisors LP | $57.2M | 701K | 2.6% | ▲ 2.4% |
| Morgan Stanley | $44.5M | 545K | 2.1% | ▲ 78.0% |
| Westwood Holdings Group Inc | $43.3M | 531K | 2.0% | New |
| Gabelli Funds LLC | $41.9M | 514K | 1.9% | ▲ 89.4% |
| Two Sigma Investments, LP | $39.7M | 487K | 1.8% | ▲ 188.0% |
| First Trust Advisors LP | $36.5M | 447K | 1.7% | ▲ 0.1% |
From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not MGE Energy Inc's complete shareholder register. Values are as reported by the filers ; 2 inconsistently scaled filing rows were excluded.
Insider trading activity
Full insider history and chart Insider purchases History → $92,719 4 trades by 1 insider, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $92,719 net buying
| Insider | Date | Trade | Shares | Price | Value |
|---|---|---|---|---|---|
| Berbee James G Director | September 9, 2026 | Buy | 275 | $77.35 | $21,251 |
| Berbee James G Director | August 19, 2026 | Buy | 261 | $81.30 | $21,249 |
| Berbee James G Director | March 11, 2026 | Buy | 373 | $77.74 | $28,985 |
| Berbee James G Director | December 5, 2025 | Buy | 270 | $78.57 | $21,235 |
From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.
Earnings dates and SEC filings
Results announcements
Next expected around November 4, 2026 estimated from the company's past filing pattern, not announced
- August 5, 2026
- May 5, 2026
- February 24, 2026
- November 5, 2025
- August 6, 2025
- May 7, 2025
Recent SEC filings
- 8-K Current report
- 8-K Current report
- 8-K Current report
- 10-Q Quarterly report
- 8-K Current report
- 8-K Current report
- 8-K Current report
- 8-K Current report
Data status
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
MGE Energy Inc in brief
- What does MGE Energy Inc do?
- MGE Energy Inc is a US-listed company in the multi-utilities industry. Its financial year ends in December.
- What is MGE Energy Inc's stock ticker?
- MGE Energy Inc trades under the ticker MGEE on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
- Who are MGE Energy Inc's largest institutional shareholders?
- By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Portfolio Management LLC and State Street Corp. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
- Are insiders buying or selling MGE Energy Inc stock?
- Over the last 12 months, MGE Energy Inc's directors and officers reported 4 open-market purchases and 0 sales on Form 4. The insider trading page charts every trade.
- When is MGE Energy Inc's next earnings date?
- Around November 4, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — MGE Energy Inc announces its own schedule.
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