Mge Energy Inc Stock Price, News & Analysis

Madison Gas and Electric (MGE) announces the full operation of the Red Barn Wind Farm, a 92-MW facility located in Grant County, which will generate cost-effective, carbon-free energy. MGE's share will serve around 5,000 households annually. The company aims for at least an 80% reduction in carbon emissions by 2030 and net-zero carbon electricity by 2050. Additionally, MGE is investing in solar and battery storage projects, including the Paris Solar-Battery Park and the Darien Solar Energy Center, expected to significantly expand its renewable capacity.

Madison Gas and Electric (MGE), in collaboration with We Energies and Wisconsin Public Service, received approval to purchase solar energy and battery storage from the Koshkonong Solar Energy Center. MGE will own 30 MW of solar energy and 16.5 MW of battery storage, sufficient to power 9,000 households. The project is part of MGE's goal to achieve a net-zero carbon electricity by 2050, targeting an 80% reduction in carbon emissions by 2030. The Koshkonong center is expected to begin operations in late 2025, contributing to MGE's significant expansion of renewable capacity by over nine times since 2015.

MGE Energy reported a strong performance for the fourth quarter and full year of 2022. Full-year earnings rose to $111.0 million, or $3.07 per share, compared to $105.8 million, or $2.92 per share in 2021. Q4 earnings also saw a significant increase, reaching $21.1 million, or 58 cents per share, up from $13.1 million, or 36 cents per share the prior year. Growth in electric and gas assets, driven by new projects and customer systems, propelled these results. MGE aims for an 80% carbon reduction by 2030 and net-zero carbon electricity by 2050.

The board of directors of MGE Energy (Nasdaq: MGEE) has declared a quarterly dividend of $0.4075 per share, payable on March 15, 2023, to shareholders of record by March 1, 2023. MGE Energy boasts a strong history, having increased its dividend annually for 47 years and paid cash dividends for over 110 years. The company serves 159,000 electricity customers and 169,000 natural gas customers across Wisconsin, demonstrating significant operational stability and commitment to returning value to shareholders.

MGE Energy, Inc. (Nasdaq: MGEE) released its annual Corporate Responsibility and Sustainability Report in its latest quarterly investor newsletter, 'Interim Report.' Highlights include a new newsletter schedule for 2023, third-quarter earnings, approval of EV managed charging pilots, and recognition as a Green Master for the ninth consecutive year. The newsletter aims to keep investors informed about MGE Energy and its subsidiary, Madison Gas and Electric. MGE Energy’s assets are valued at approximately $2.4 billion, with revenues around $607 million in 2021.

Madison Gas and Electric (MGE), in collaboration with We Energies and Wisconsin Public Service, received approval to purchase solar energy and battery storage from the Darien Solar Energy Center. MGE will own 25 MW of solar energy and 7.5 MW of battery storage, part of a larger 250-MW solar and 75-MW battery facility in Wisconsin. This project aligns with MGE's goal to reduce carbon emissions by at least 80% by 2030 and achieve net-zero carbon electricity by 2050, significantly increasing their renewable capacity. The facility is expected to start operations by the end of 2024.

MGE Energy, Inc. (Nasdaq: MGEE) has released its third-quarter 2022 financial update, highlighting significant developments in its operations. The public utility holding company serves 159,000 electricity customers and 169,000 natural gas customers across Dane County and seven other counties in Wisconsin. The detailed financial update is available for review on their official website, providing insights into the company's performance and future outlook.

MGE Energy, Inc. (Nasdaq: MGEE) reported Q3 2022 earnings of $33.7 million ($0.93 per share), a decline from $34.9 million ($0.97 per share) in Q3 2021. Operating revenues increased to $163.4 million, up from $145.9 million. The company noted a decrease in earnings from its investment in ATC by $0.7 million due to complaints regarding return on equity. MGE aims for significant carbon reductions with plans for renewable generation capacity, targeting 80% carbon reduction by 2030.