Welcome to our dedicated page for Mge Energy news (Ticker: MGEE), a resource for investors and traders seeking the latest updates and insights on Mge Energy stock.
MGE Energy Inc (MGEE) delivers essential electric and natural gas services to Wisconsin communities through regulated utilities and strategic energy investments. This news hub provides investors and stakeholders with authoritative updates on the company's operational milestones, financial performance, and regulatory developments.
Track official press releases covering quarterly earnings, infrastructure projects, rate case approvals, and renewable energy initiatives. Our curated collection includes filings with regulatory agencies, partnership announcements, and strategic updates affecting MGEE's position in the utility sector.
Key focus areas include updates from MGEE's regulated electric and gas operations, transmission system enhancements, and progress toward sustainability goals. Users will find timely information on dividend declarations, capital investment plans, and energy mix optimization efforts.
Bookmark this page for direct access to primary source materials and filtered news streams that matter most to utility sector analysis. Check regularly for developments impacting MGEE's service reliability, regulatory compliance, and long-term growth strategy in evolving energy markets.
MGE Energy (Nasdaq: MGEE) reported Q2 2024 earnings of $23.8 million, or $0.66 per share, down from $28.7 million, or $0.79 per share, in Q2 2023. The decrease was primarily due to higher fuel costs and lower electric and gas sales influenced by weather conditions. Electric net income decreased by $6.0 million compared to Q2 2023. Electric residential sales fell by 4%, while gas retail sales dropped by 10% year-over-year. Despite lower earnings, MGE Energy continues to benefit from increased investments in rate base. For the first six months of 2024, net income was $57.6 million ($1.59 per share), compared to $59.8 million ($1.65 per share) in the same period of 2023.
MGE Energy (Nasdaq: MGEE) highlighted its recent Annual Meeting of shareholders in the June 2024 issue of 'Inside View,' their investor newsletter. Key topics included investments aimed at achieving carbon reduction goals, the appointment of three new Board of Directors members, historic investments in cleaner energy generation, the ongoing transition to clean energy, and new renewable energy options for customers, including a proposed community solar option and a renewable natural gas option. More details can be found on MGE Energy's website.
MGE Energy's board of directors declared a regular quarterly dividend of $0.4275 per share on its common stock. The dividend is payable on June 15, 2024, to shareholders who are on record as of June 1, 2024. MGE Energy has a long history of annual dividend increases, maintaining this trend for 48 consecutive years. Additionally, the company has consistently paid cash dividends for over 110 years.
MGE Energy, Inc. (Nasdaq: MGEE) reported GAAP earnings of $33.8 million, or $0.93 per share, for the first quarter of 2024, showing an increase from $31.1 million, or $0.86 per share, in the same period last year. Electric net income rose by $2.5 million due to investments in rate base. Gas net income remained stable despite warm weather. Operating revenues were $191.3 million in 2024 compared to $217.3 million in 2023.
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