Mge Energy Inc Stock Price, News & Analysis

MGE Energy reported a strong performance for 2020, with GAAP earnings of $92.4 million ($2.60 per share), an increase from $86.9 million ($2.51) in 2019. This growth was driven by AFUDC equity from solar projects and operating cost savings. The Two Creeks and Badger Hollow solar projects will enhance renewable energy supply as part of MGE’s goal for net-zero carbon by 2050. However, COVID-19 impacted retail sales, leading to a 7% drop in commercial electric sales and a 3% decrease in Q4 earnings compared to 2019.

The board of directors of MGE Energy declared a quarterly dividend of $0.37 per share, payable on March 15, 2021, to shareholders of record by the close of business on March 1, 2021. MGE Energy has a strong dividend history, increasing its dividends annually for the past 45 years and maintaining cash dividends for over 110 years. The company, a public utility holding provider, serves 155,000 electricity customers and 163,000 natural gas customers in Wisconsin.

MGE Energy (Nasdaq: MGEE) released its latest 'Interim Report,' showcasing insights from the University of Wisconsin-Madison regarding its net-zero carbon electricity goal. Key highlights include:

• Operational progress of Two Creeks Solar
• Completion of the Dane County Airport Solar project
• Third-quarter earnings details
• EEI Index Award for total shareholder return
• Updates on tax implications and lobbying activities

The report aims to keep investors informed about MGE Energy's performance and developments.

MGE Energy, Inc. (Nasdaq: MGEE) will present at the 2020 EEI Virtual Financial Conference from November 9-11, 2020. The presentation can be accessed on their website via a dedicated link. MGE Energy, based in Madison, Wisconsin, is an investor-owned public utility that manages Madison Gas and Electric. With assets valued at approximately $2 billion, they reported revenues of around $569 million in 2019, focusing on electricity generation and natural gas distribution in various Wisconsin counties.

MGE Energy, Inc. (Nasdaq: MGEE) released its third-quarter 2020 financial update today. The comprehensive update can be accessed on MGE Energy's website. As a public utility holding company based in Madison, Wisconsin, MGE Energy oversees Madison Gas and Electric, which operates in Dane County and several other Wisconsin counties. The company reported approximately $2 billion in assets and generated about $569 million in revenues for 2019.

Madison Gas and Electric (MGE) has completed Wisconsin's first large-scale solar project, the 150-MW Two Creeks Solar facility, co-owned with Wisconsin Public Service (WPS). MGE operates 50 MW, while WPS operates 100 MW. This facility, featuring 500,000 solar panels across 800 acres, powers over 33,000 homes. MGE aims for net-zero carbon electricity by 2050, having announced a 40% carbon reduction target by 2030. The project supports MGE's strategy for deep decarbonization and renewable energy growth.

MGE Energy reported its financial results for Q3 2020, with net income of $31.8 million or 88 cents per share, a slight increase from $30.7 million in Q3 2019. The rise in electric net income by $1 million was attributed to AFUDC equity from solar project constructions. However, COVID-19 negatively impacted commercial retail sales, down 8%, while residential sales increased 9%. Operating revenue was $135.2 million, down from $138.2 million in the previous year.

MGE Energy, Inc. (Nasdaq: MGEE) celebrates 45 years of consecutive dividend increases in its investor newsletter, Inside View. Key highlights include recent leadership changes, ambitious investments in renewable energy aimed at driving asset growth, proposed rate changes for 2021, and plans to electrify its fleet. With assets totaling approximately $2 billion and 2019 revenues of $569 million, MGE Energy continues to strengthen its position in the market.