MGEE
UtilitiesMGE Energy, Inc. · Diversified Utilities · $3B
What is MGE Energy, Inc.?
MGE Energy is a Wisconsin-based public utility holding company serving electric and natural gas customers across Dane County and surrounding areas. It operates through regulated and nonregulated segments, with transmission investments rounding out its business.
MGE Energy generates, purchases, and distributes electricity to customers in Dane County, Wisconsin, while also supplying natural gas across seven Wisconsin counties. The company owns and leases generation facilities in Wisconsin and Iowa, drawing on coal-fired, gas-fired, and renewable energy sources. It also plans, constructs, and maintains transmission infrastructure. Revenue flows primarily through regulated utility rates set by state regulators, providing a degree of earnings predictability typical of the utilities sector.
MGE Energy was established in 1980 and is headquartered in Madison, Wisconsin.
- Regulated electric utility distribution in Dane County, Wisconsin
- Regulated natural gas distribution across seven Wisconsin counties
- Electric generation from coal, gas, and renewable sources
- Transmission infrastructure planning, construction, and operation
- Nonregulated energy operations and transmission investments
Is MGEE a Good Stock to Buy?
UQS Score rates MGEE as Below Average overall, reflecting a mixed profile across its five analytical pillars.
Quality, Moat, Growth, and Valuation each land at a Neutral rating — meaning MGEE is neither a standout nor a clear laggard on those dimensions relative to its peers. The regulated utility model provides a degree of earnings stability that supports the Neutral Quality and Moat readings.
The Risk pillar is rated Weak, which is the most notable drag on the overall score and warrants careful consideration for investors sensitive to downside exposure.
See the exact pillar breakdown and full financial metrics by signing up for a UQS Pro account. Sign up free →
Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does MGEE pay dividends?
Yes — MGE Energy, Inc. pays a dividend.
MGE Energy pays a regular dividend, consistent with the income-oriented tradition of regulated utility companies. Utilities like MGEE often prioritize returning cash to shareholders given the relatively predictable, rate-regulated revenue streams that underpin their business. Investors seeking steady income from the utilities sector frequently consider dividend-paying names like MGEE as part of a diversified portfolio.
When does MGEE report earnings?
MGE Energy reports earnings on a quarterly cadence, typical for US-listed equities.
As a regulated utility, MGE Energy's quarterly results tend to reflect rate-base dynamics, seasonal energy demand, and fuel cost fluctuations rather than dramatic swings. The Neutral Growth pillar suggests performance has been in line with, rather than ahead of, sector expectations in recent periods.
For the most recent quarter's results and upcoming reporting dates, visit MGE Energy's investor relations page directly.
MGEE Price History
+16.2% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in MGE Energy, Inc.?
Based on MGE Energy, Inc.'s historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
MGEE Long-term Outlook
MGE Energy's Neutral Growth pillar points to a steady but unexceptional trajectory — characteristic of a mature, rate-regulated utility operating in a defined geographic footprint. The Weak Risk pillar introduces uncertainty around that baseline, suggesting the path forward carries more downside sensitivity than the sector average. Valuation is rated Neutral, meaning the stock does not appear obviously cheap or stretched relative to fundamentals at this time.
Growth drivers
- Ongoing renewable energy integration and generation fleet transition
- Rate-base expansion through transmission and infrastructure investment
- Stable customer demand in the regulated Wisconsin service territory
Key risks
- Elevated risk profile flagged by the Weak Risk pillar rating
- Regulatory rate decisions that could compress allowed returns
- Fuel cost volatility affecting coal- and gas-fired generation economics
MGEE vs Peers
MGE Energy operates in a sector populated by other regulated and semi-regulated utilities, each with distinct geographic and operational profiles.
Hawaiian Electric serves an island-based grid with unique renewable energy mandates and no interconnection to the continental US power network.
ELPC is a Brazilian utility with significant hydroelectric generation exposure, operating under a distinct regulatory and currency environment.
Avista serves customers across the Pacific Northwest and operates a generation mix that leans more heavily on hydroelectric and natural gas resources.
Frequently Asked Questions
What does MGE Energy do?
MGE Energy is a public utility holding company based in Madison, Wisconsin. It generates and distributes electricity to customers in Dane County and supplies natural gas across seven Wisconsin counties. The company also invests in transmission infrastructure and operates nonregulated energy businesses.
Does MGEE pay dividends?
Yes, MGE Energy pays a regular dividend. Regulated utilities like MGEE commonly return cash to shareholders given the relatively stable, rate-regulated revenue base that supports consistent distributions. Investors should check the company's investor relations page for the current dividend rate and payment schedule.
When does MGEE report earnings?
MGE Energy reports earnings on a quarterly cadence, as is standard for US-listed public companies. For precise reporting dates and the most recent quarterly results, refer to MGE Energy's investor relations page.
Is MGEE a good stock to buy?
UQS Score rates MGEE as Below Average overall. The Risk pillar is rated Weak, which is the primary concern, while Quality, Moat, Growth, and Valuation are each Neutral. Whether MGEE fits your portfolio depends on your risk tolerance and income objectives. The full pillar breakdown is available to UQS Pro members.
Is MGEE overvalued?
The UQS Valuation pillar for MGEE is rated Neutral, suggesting the stock is neither clearly cheap nor obviously expensive relative to its fundamentals at this time. For the detailed valuation metrics behind that rating, sign up for a UQS Pro account.
How does MGEE compare to its competitors?
MGE Energy is a smaller, geographically focused Wisconsin utility compared to peers like Avista or Hawaiian Electric. Its regulated model is similar in structure, but each competitor operates in a distinct region with different generation mixes and regulatory frameworks. The UQS platform scores each ticker independently for direct comparison.
What is MGEE's market cap bracket?
MGE Energy falls in the mid-cap bracket. This places it among the smaller publicly traded utilities in the US, reflecting its focused service territory in Wisconsin rather than a multi-state footprint.
Who founded MGE Energy?
MGE Energy traces its corporate history through Madison Gas and Electric, a long-established Wisconsin utility. The holding company structure was formalized in 1980. For detailed founding history, the company's official website and public filings are the most reliable sources.
Is MGEE a long-term quality indicator?
As a long-term quality indicator, MGEE's UQS profile is mixed. Neutral ratings across Quality, Moat, and Growth suggest a stable but unexceptional business, while the Weak Risk pillar is a factor long-term investors should weigh carefully. Regulated utilities can offer durability, but the risk profile matters for multi-year holding decisions.
What is the main competitive advantage of MGE Energy?
MGE Energy's primary competitive advantage is its status as a regulated utility with an exclusive service territory in Dane County, Wisconsin. This regulatory framework limits direct competition and provides a degree of revenue predictability, though it also caps growth potential — reflected in the Neutral Moat rating.
What sector does MGEE belong to?
MGEE belongs to the Utilities sector. Regulated utilities are generally characterized by stable demand, rate-based revenue, and dividend-paying traditions — though individual company risk profiles, like MGEE's Weak Risk pillar, can vary meaningfully within the sector.
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Pro Analysis
MGEE — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| May 7, 2026 | 50.6 | 57.7 | 50.0 | 47.1 | 36.4 | 58.7 | +0.1 |
| May 3, 2026 | 50.5 | 57.7 | 50.0 | 47.1 | 36.4 | 57.6 | 0.0 |
| May 1, 2026 | 50.5 | 57.7 | 50.0 | 47.1 | 36.4 | 57.8 | +1.5 |
| Apr 26, 2026 | 49.0 | 57.7 | 50.0 | 40.0 | 36.4 | 57.3 | -0.4 |
| Apr 19, 2026 | 49.4 | 57.7 | 50.0 | 40.0 | 36.4 | 59.9 | +0.2 |
| Apr 18, 2026 | 49.2 | 57.7 | 50.0 | 40.0 | 36.4 | 58.8 | +0.4 |
| Apr 14, 2026 | 48.8 | 57.7 | 50.0 | 40.0 | 36.4 | 55.9 | +0.1 |
| Apr 12, 2026 | 48.7 | 57.7 | 50.0 | 40.0 | 36.4 | 55.1 | -0.2 |
| Apr 5, 2026 | 48.9 | 57.7 | 50.0 | 40.0 | 36.4 | 56.5 | -0.1 |
| Apr 2, 2026 | 49.0 | 57.7 | 50.0 | 40.0 | 36.4 | 57.2 | — |
MGEE — Pillar Breakdown
Quality
— 57.5/100 (25%)MGE Energy, Inc. shows solid profitability with healthy returns on capital and reasonable margins.
How effectively capital is deployed to generate returns.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Asset productivity — how much gross profit each dollar of assets generates.
Free cash flow relative to market value.
Growth
— 47.1/100 (20%)MGE Energy, Inc. shows steady but unspectacular growth, typical for mature companies.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Analyst consensus for future earnings growth.
Risk
— 40.3/100 (15%)MGE Energy, Inc. has some risk factors including moderate leverage or solvency concerns.
Debt levels relative to earnings capacity.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 61.6/100 (15%)MGE Energy, Inc. trades at a reasonable valuation with decent earnings yield and FCF multiples.
Inverse of forward P/E — higher yield means cheaper stock.
P/E relative to earnings growth — lower is more attractive.
Enterprise value multiple relative to sector median.
Moat
— 50/100 (25%)MGE Energy, Inc. possesses some competitive advantages but faces meaningful competition. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for MGEE.
Score Composition
Financial Data
More Stock Analysis
How is the MGEE UQS Score Calculated?
The UQS (Unified Quality Score) for MGE Energy, Inc. is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses MGE Energy, Inc.'s competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether MGE Energy, Inc. is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.