MGE ENERGY INC
MGEE · Electric, Gas & Sanitary Services · 36.8M shares · +1%/yr ↑ shares · EDGAR filings ↗
Reference price $77.74 · est. market cap ~$2.9B — last insider purchase, 2026-03-11 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C62Stable regulated utility with solid returns (ROE 10.4%, ROA 74th pct) where headline liquidity/FCF metrics are normal capital-intensity artifacts, not distress.
Strengths
- ROA in the 74th percentile, ROE ~10.4% and net-income growth of 12.7% (60th pct)
- Regulated utility model with predictable earnings and reasonable leverage (D/E 0.61)
Risks
- Negative free cash flow and minimal cash on hand reflect heavy capex typical of utilities, but leave thin reported liquidity
- No filing text available to assess regulatory or rate-case risk
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Cash burnNegative free cash flow (-80.0M)
- Weak liquidityCurrent ratio 0.77 (<1)
Key metrics
Return on equity
10.4%
Return on assets
4.3%
ROIC
6.4%
Net-income growth
12.7%
Debt / equity
0.6×
Current ratio
0.8×
Free cash flow
-$80M
Tangible book value
$1.3B
Cash & investments
$6M
Cash runway
0q
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-04-17 | Bushek Jared Joseph | Grant | 25K | — |
| 2026-03-11 | Berbee James G | Buy | 373 | $77.74 |
| 2026-03-02 | Jicha John Anthony | Grant | 945 | — |
| 2026-03-02 | Lagerwall Jenny Lynn | Grant | 688 | — |
| 2026-03-02 | Garner Melissa Tyson | Grant | 1.4K | — |
| 2026-03-02 | Lorenz James Jerome | Grant | 1.4K | — |
| 2026-03-02 | Smith Scott Robert | Grant | 1.1K | — |
| 2026-03-02 | Bushek Jared Joseph | Grant | 3.7K | — |
| 2026-03-02 | Renlund Cari Anne | Grant | 1.7K | — |
| 2026-03-02 | Keebler Jeffrey M | Grant | 11K | — |
| 2026-01-02 | HOBBIE LYNN K | Tax withheld | 466 | $78.44 |
| 2026-01-02 | Garner Melissa Tyson | Tax withheld | 173 | $78.44 |
| 2026-01-02 | Smith Scott Robert | Tax withheld | 299 | $78.44 |
| 2026-01-02 | Bushek Jared Joseph | Tax withheld | 430 | $78.44 |
| 2026-01-02 | Lorenz James Jerome | Tax withheld | 275 | $78.44 |
| 2026-01-02 | Renlund Cari Anne | Tax withheld | 438 | $78.44 |
| 2026-01-02 | Keebler Jeffrey M | Tax withheld | 1.2K | $78.44 |
| 2025-12-31 | Berbee James G | Option exercise | 2.1K | — |
| 2025-12-31 | WOLTER GARY J | Option exercise | 2.1K | — |
| 2025-12-31 | WOLTER GARY J | Disposition | 516 | — |
| 2025-12-31 | Ackerman Patricia K | Option exercise | 918 | — |
| 2025-12-31 | Ackerman Patricia K | Disposition | 184 | — |
| 2025-12-31 | Anderson Marcia M | Option exercise | 2.1K | — |
| 2025-12-31 | Anderson Marcia M | Disposition | 516 | — |
| 2025-12-31 | DEWEY LONDA J | Option exercise | 2.1K | — |
| 2025-12-31 | DEWEY LONDA J | Disposition | 516 | — |
| 2025-12-31 | Kelly Daniel James | Option exercise | 918 | — |
| 2025-12-31 | Rieger Angela S. | Option exercise | 918 | — |
| 2025-12-31 | Wray Noble Lynnwood | Option exercise | 2.1K | — |
| 2025-12-31 | Wray Noble Lynnwood | Disposition | 516 | — |
| 2025-12-31 | Possin James L | Option exercise | 2.1K | — |
| 2025-12-05 | Berbee James G | Buy | 270 | $78.57 |
| 2025-09-08 | Berbee James G | Buy | 254 | $83.75 |
| 2025-08-15 | Berbee James G | Buy | 507 | $83.83 |
| 2025-04-25 | Berbee James G | Other | 5.8K | — |
| 2025-03-12 | Berbee James G | Buy | 446 | $90.83 |
| 2025-03-03 | Keebler Jeffrey M | Grant | 6.9K | — |
| 2025-03-03 | Renlund Cari Anne | Grant | 1.3K | — |
| 2025-03-03 | Bushek Jared Joseph | Grant | 2.9K | — |
| 2025-03-03 | Lorenz James Jerome | Grant | 1.1K | — |
| 2025-03-03 | Smith Scott Robert | Grant | 854 | — |
| 2025-03-03 | Lagerwall Jenny Lynn | Grant | 510 | — |
| 2025-03-03 | HOBBIE LYNN K | Grant | 1.1K | — |
| 2025-03-03 | Garner Melissa Tyson | Grant | 1.1K | — |
| 2025-01-02 | Keebler Jeffrey M | Tax withheld | 1.1K | $92.96 |
| 2025-01-02 | Lorenz James Jerome | Tax withheld | 258 | $92.96 |
| 2025-01-02 | HOBBIE LYNN K | Tax withheld | 437 | $92.96 |
| 2025-01-02 | Renlund Cari Anne | Tax withheld | 403 | $92.96 |
| 2025-01-02 | Bushek Jared Joseph | Tax withheld | 325 | $92.96 |
| 2025-01-02 | Smith Scott Robert | Tax withheld | 280 | $92.96 |
| 2024-12-31 | Berbee James G | Option exercise | 692 | — |
| 2024-12-31 | Anderson Marcia M | Option exercise | 692 | — |
| 2024-12-31 | Anderson Marcia M | Disposition | 173 | — |
| 2024-12-31 | WOLTER GARY J | Option exercise | 692 | — |
| 2024-12-31 | WOLTER GARY J | Disposition | 173 | — |
| 2024-12-31 | Possin James L | Option exercise | 692 | — |
| 2024-12-31 | Possin James L | Disposition | 139 | — |
| 2024-12-31 | DEWEY LONDA J | Option exercise | 692 | — |
| 2024-12-31 | DEWEY LONDA J | Disposition | 173 | — |
| 2024-12-31 | Wray Noble Lynnwood | Option exercise | 692 | — |
| 2024-12-31 | Wray Noble Lynnwood | Disposition | 104 | — |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-23 | Exec/director changeExhibits | filing ↗ |
| 2026-05-22 | Shareholder vote | filing ↗ |
| 2026-05-08 | Reg FDExhibits | filing ↗ |
| 2026-05-08 | Material agreementOtherExhibits | filing ↗ |
| 2026-05-05 | ResultsExhibits | filing ↗ |
| 2026-04-21 | Exec/director changeExhibits | filing ↗ |
| 2026-02-27 | Reg FDExhibits | filing ↗ |
| 2026-02-24 | OtherExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-23 | 2026-06-19 | 0001193125-26-279300 ↗ |
| 8-K | 2026-05-22 | 2026-05-19 | 0001193125-26-235741 ↗ |
| 8-K | 2026-05-08 | 2026-05-08 | 0001193125-26-214813 ↗ |
| 8-K | 2026-05-08 | 2026-05-06 | 0001193125-26-214717 ↗ |
| 8-K | 2026-05-05 | 2026-05-05 | 0001193125-26-205689 ↗ |
| 10-Q | 2026-05-05 | 2026-03-31 | 0001193125-26-205678 ↗ |
| 8-K | 2026-04-21 | 2026-04-17 | 0001193125-26-167047 ↗ |
| 8-K | 2026-02-27 | 2026-02-27 | 0001193125-26-079800 ↗ |
| 8-K | 2026-02-24 | 2026-02-24 | 0001193125-26-067481 ↗ |
| 10-K | 2026-02-24 | 2025-12-31 | 0001193125-26-067036 ↗ |
| 8-K | 2026-02-24 | 2026-02-24 | 0001193125-26-067050 ↗ |
| 8-K | 2026-01-29 | 2026-01-27 | 0001193125-26-028612 ↗ |