MGE Energy, Inc.
In the published model solve dated 2026-Q2, anchored at $78.15, MGE Energy, Inc. (MGEE) is priced for -0.7% growth. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed June 27, 2026 from SEC EDGAR filings.
MGE Energy is a small, well-run Wisconsin regulated utility, about 71% electric and the rest gas, serving the Madison area. Q1 2026 GAAP EPS rose to $1.32 from $1.14 on higher electric and gas revenues and new rates, with rate base growing on renewable projects. The stock carries a premium. At about $76 the price sits well above nearly every valuation frame: the blended X-ray is near $46, and only the growth-DCF reaches the price. The market is paying for the quality and consistency, not for a
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309 institutional managers reported holding MGEE in 13F filings for the quarter ended 2026-03-31. Together they hold about 59% of the company; the top 10 hold 42%. 40 opened new positions that quarter. Held by BlackRock, Vanguard Group, State Street, among others. On the short side, 1.4M shares were sold short as of the 2026-06-15 count, about 4% of shares outstanding (4.8 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
MGEE's share count grew 1.2% over the past five years. It pays a dividend, and has paid one every year in our records (17 and counting), raised 5 years straight; the current rate is $1.85 a share annually. Cash returned over the past three years: $179.47M in dividends.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at MGEE over the trailing three years: 2023: 4 buys totaling $51k; 2024: 3 buys totaling $78k; 2025: 4 buys totaling $125k; 2026: 1 buy totaling $29k. 18 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
MGEE's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-04 | -2.7% | -7.8% |
| 2023-11-03 | +2.8% | -3.8% |
| 2024-02-22 | -0.8% | +22.1% |
| 2024-05-09 | +2.3% | -4.2% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
MGEE's latest 8-K filings: 2026-08-21 (items 8.01, 9.01); 2026-08-05 (items 2.02, 7.01, 9.01); 2026-06-23 (items 5.02, 9.01); 2026-05-22 (items 5.07); 2026-05-08 (items 7.01, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: June 27, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.