MGE Energy Reports Strong 2025 Financial Results
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1 hour ago
0mins
Should l Buy MGEE?
Source: Businesswire
- Full-Year Profit Growth: MGE Energy's GAAP net income for 2025 reached $135.9 million, translating to earnings per share of $3.72, marking a 12.6% increase from $120.6 million and $3.33 per share in 2024, indicating a significant enhancement in profitability following the successful deployment of renewable energy projects.
- Strong Fourth Quarter Performance: The fourth quarter of 2025 saw net income of $23.3 million and earnings per share of 64 cents, up from $22.0 million and 61 cents in the same period last year, reflecting ongoing growth in both electric and gas segments.
- Significant Contribution from Electric Segment: The electric segment's earnings increased by $11.3 million in 2025, primarily driven by the operational success of the Darien Solar Project and the Paris Battery Energy Storage System, which bolstered the company's competitive edge in the renewable energy market.
- Gas Business Growth: Gas retail therm deliveries rose approximately 14% in 2025 compared to the previous year, largely due to warmer-than-normal weather in 2024, further solidifying the company's market position in the gas sector.
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy MGEE?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on MGEE
Wall Street analysts forecast MGEE stock price to fall
1 Analyst Rating
0 Buy
0 Hold
1 Sell
Moderate Sell
Current: 81.500
Low
71.00
Averages
71.00
High
71.00
Current: 81.500
Low
71.00
Averages
71.00
High
71.00
About MGEE
MGE Energy, Inc. is a public utility holding company. The Company's segments include regulated electric utility operations; regulated gas utility operations; nonregulated energy operations, transmission investments, and all other. The regulated electric utility operations segment is engaged in generating, purchasing, and distributing electricity through Madison Gas and Electric Company (MGE). The regulated gas utility operations segment is engaged in purchasing and distributing natural gas through MGE. The nonregulated energy operations segment owns and leases electric generating capacity that assists MGE through MGE Energy's wholly owned subsidiaries MGE Power Elm Road and MGE Power West Campus. The transmission investments segment includes the investment in American Transmission Company LLC, which is engaged in the business of providing electric transmission services in Wisconsin, and ATC Holdco LLC, which facilitates out-of-state electric transmission development and investments.
About the author

Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
- Annual Profit Growth: MGE Energy reported a GAAP net income of $135.9 million for 2025, translating to earnings per share of $3.72, which represents a 12.6% increase from $120.6 million and 11.7% from $3.33 in 2024, indicating a significant enhancement in profitability.
- Fourth Quarter Performance: The net income for the fourth quarter of 2025 was $23.3 million, or 64 cents per share, up from $22.0 million and 61 cents per share in the same period last year, reflecting the company's stable performance amid seasonal demand.
- Electric Segment Contribution: The electric segment's earnings increased by $11.3 million in 2025, primarily driven by the successful deployment of the Darien Solar Project and the Paris Battery Energy Storage System, which bolstered the company's market position in renewable energy.
- Gas Segment Growth: The gas segment saw a $2.5 million increase in earnings, with retail therm deliveries rising approximately 14% in 2025 compared to the previous year, largely due to warmer weather in 2024, further solidifying the company's competitive edge in the energy market.
See More
- Earnings Highlights: MGE Energypress reported a GAAP EPS of $0.64 for Q4, indicating a stable profitability and potential for continued growth compared to the previous year.
- Revenue Growth: The company achieved revenues of $189.55 million in Q4, reflecting a 10.6% year-over-year increase, which underscores its competitive position and rising customer demand in the market.
- Investor Attention: MGE Energy's financial performance has attracted investor interest, with Seeking Alpha's Quant Rating providing additional market analysis to help investors better understand the company's financial health.
- Dividend Performance: The dividend scorecard for MGE Energy highlights its commitment to shareholder returns, enhancing investor confidence in the company's long-term investment value.
See More
- Full-Year Profit Growth: MGE Energy's GAAP net income for 2025 reached $135.9 million, translating to earnings per share of $3.72, marking a 12.6% increase from $120.6 million and $3.33 per share in 2024, indicating a significant enhancement in profitability following the successful deployment of renewable energy projects.
- Strong Fourth Quarter Performance: The fourth quarter of 2025 saw net income of $23.3 million and earnings per share of 64 cents, up from $22.0 million and 61 cents in the same period last year, reflecting ongoing growth in both electric and gas segments.
- Significant Contribution from Electric Segment: The electric segment's earnings increased by $11.3 million in 2025, primarily driven by the operational success of the Darien Solar Project and the Paris Battery Energy Storage System, which bolstered the company's competitive edge in the renewable energy market.
- Gas Business Growth: Gas retail therm deliveries rose approximately 14% in 2025 compared to the previous year, largely due to warmer-than-normal weather in 2024, further solidifying the company's market position in the gas sector.
See More
- Dividend Overview: MGE Energy Inc is set to pay a dividend of $0.475 per share on February 27, 2026, with a payment date of March 15, 2026, reflecting the company's strong dividend-paying capability that attracts income-seeking investors.
- Pre-Dividend Price Trends: Historically, MGEE's stock price has increased by an average of $3.02 in the two weeks leading up to the dividend, surpassing the total dividend amount of $1.85, indicating significant buying pressure from investors prior to the dividend date.
- Investment Strategy Analysis: Investors typically buy MGEE shares two weeks before the dividend to capitalize on potential capital gains, with a success rate of 75% in the last four dividend cycles, demonstrating the effectiveness of this strategy.
- Future Outlook: With an annualized yield of 2.38%, while past performance does not guarantee future returns, MGEE's consistent dividend policy and potential for capital appreciation make it a noteworthy investment opportunity.
See More
- Dividend Declaration: MGE Energy's board has declared a quarterly dividend of $0.475 per share, payable on March 15, 2026, reflecting the company's commitment to shareholder returns and likely boosting investor confidence.
- Long-term Dividend Growth: With a history of increasing dividends for 50 consecutive years and over 110 years of cash dividend payments, MGE Energy demonstrates financial stability, enhancing its market position in the utility sector.
- Customer Base: MGE Energy's principal subsidiary, Madison Gas and Electric, serves 167,000 electricity customers and 178,000 natural gas customers across south-central and western Wisconsin, showcasing its extensive regional market presence and influence.
- Utility Company Profile: As a public utility holding company, MGE Energy's stable dividend policy and long-term growth record have established a strong reputation among investors, further solidifying its leadership position in the industry.
See More
Earnings Performance: MGE Energy, Inc. reported third-quarter earnings of $44.49 million, or $1.22 per share, an increase from $40.93 million, or $1.13 per share, in the previous year.
Analyst Expectations: The earnings exceeded analysts' expectations, who had forecasted an average of $1.19 per share, excluding special items.
Revenue Growth: The company's revenue rose by 4.3% to $175.67 million, compared to $168.48 million in the same period last year.
Earnings Summary: Key figures include earnings of $44.49 million, EPS of $1.22, and revenue of $175.67 million, all showing positive growth year-over-year.
See More









