MGE Energy, Inc., through its subsidiaries, operates as a public utility holding company in the United States. It operates through Regulated Electric Utility Operations; Regulated Gas Utility Operations; Nonregulated Energy Operations; Transmission Investments; and All Other segments. The company generates, purchases, and distributes electricity; purchases and distributes natural gas; owns and leases electric generating capacity; and plans, constructs, operates, maintains, and expands transmission facilities to provide transmission power services. It also generates electricity from coal-fired, gas-fired, and renewable energy sources and provides solar and wind generation, and battery storage services. As of December 31, 2025, the company owned and operated 811 miles of overhead electric distribution lines; 1,386 miles of underground electric distribution cables; 47 substations with an installed capacity of 1.2 million kVA; and gas facilities, including 3,117 miles of distribution mains, as well as supplied electric service to approximately 170,000 customers. MGE Energy, Inc. has a strategic partnership with Realta Fusion Inc. and Madison Gas and Electric Company. MGE Energy, Inc. was incorporated in 2001 and is headquartered in Madison, Wisconsin.
| Horizon | Bear case (−1σ) | Base case | Bull case (+1σ) |
|---|---|---|---|
| 1 Month | $68.38 (-5.4%) | $72.27 | $76.38 (+5.7%) |
| 3 Months | $65.66 (-9.1%) | $72.27 | $79.54 (+10.1%) |
| 6 Months | $63.11 (-12.7%) | $72.27 | $82.76 (+14.5%) |
| 12 Months | $59.66 (-17.4%) | $72.27 | $87.55 (+21.1%) |