Welcome to our dedicated page for MGE ENERGY SEC filings (Ticker: MGEE), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
MGE Energy Inc. filings document the regulatory reporting of a Wisconsin public utility holding company and its principal utility subsidiary, Madison Gas and Electric. The record includes Form 8-K reports for earnings releases, Regulation FD financial presentations, material agreements, capital-market transactions, and officer and compensation matters.
Company filings also cover common-stock offering arrangements, forward sale agreements, at-the-market equity distribution programs, proxy governance, board matters, executive compensation, shareholder voting materials, and disclosure for electric and gas utility operations in Wisconsin.
MGE Energy, Inc. filed a prospectus supplement registering the offer and sale of common stock having an aggregate offering price of up to $100,000,000 under an at-the-market equity distribution agreement dated February 24, 2026.
The company may sell shares from time to time through Guggenheim Securities, LLC and Morgan Stanley & Co. LLC as sales agents or to them as principals, with commissions up to 2.0%. The prospectus notes 36,563,899 shares outstanding as of February 20, 2026 and a pro forma outstanding share example of up to 37,790,892 shares assuming sales at $81.50 per share.
MGE Energy, Inc. filed a shelf registration to offer an indeterminate amount of securities, including shares for its Direct Stock Purchase and Dividend Reinvestment Plan, other equity and debt instruments, and medium-term notes of its subsidiary Madison Gas and Electric Company, from time to time after the effective date of this Registration Statement as determined by market conditions and other factors. The prospectus covers the Plan (common stock, $1 par), procedures for optional cash investments, and related fees. The filing states 36,563,899 shares issued and outstanding as of February 20, 2026.
MGE Energy reported stronger results for the fourth quarter and full year 2025. Full-year GAAP net income rose to $135.9 million, or $3.72 per share, compared with $120.6 million, or $3.33 per share, a year earlier. Fourth-quarter net income was $23.3 million, or $0.64 per share, up from $22.0 million, or $0.61 per share.
Operating revenues increased to $743.7 million for 2025 from $676.9 million in 2024, and operating income rose to $170.7 million from $146.3 million. The electric segment added Darien Solar and the Paris Battery Energy Storage System in 2025, contributing to an $11.3 million earnings increase. Gas segment earnings grew $2.5 million as retail therm deliveries climbed about 14% versus 2024.
MGE Energy, Inc. and wholly owned utility Madison Gas and Electric file a combined annual report describing a regulated electric and gas business centered in the Madison, Wisconsin area. MGE serves about 170,000 electric and 180,000 gas customers and operates under PSCW and FERC oversight.
Electric operations provided roughly three-quarters of regulated revenues in 2025, with supply from coal, natural gas, renewables, and purchased power. Since 2015, MGE has added 253 MW of solar, 93 MW of wind, and 11 MW of battery storage, and plans roughly a similar amount of additional solar plus 125 MW of storage by 2030.
The company targets net‑zero carbon electricity by 2050 and net‑zero methane emissions from its gas distribution system by 2035, while transitioning the Elm Road coal units to natural gas and considering changes at Columbia. It also highlights extensive environmental regulation, evolving climate and tax policy, data‑center load uncertainty, cybersecurity, and workforce risks.
MGE Energy’s utility subsidiary, Madison Gas and Electric Company, has fully redeemed its last series of first mortgage bonds and terminated a long-standing mortgage indenture. On January 27, 2026, MGE redeemed all $1.2 million of its outstanding 7.70% First Mortgage Bonds due 2028.
The bonds were the final series issued under an Indenture of Mortgage and Deed of Trust originally dated January 1, 1946. With no first mortgage bonds remaining, MGE satisfied and discharged the indenture, is recording the discharge to remove the lien on its utility plant assets, and will not issue additional first mortgage bonds under this indenture.
Madison Gas and Electric Company, a subsidiary of MGE Energy, issued $90 million of new unsecured senior notes in three series under a Note Purchase Agreement dated January 22, 2026. The Series A, B and C Notes have coupons of 5.05%, 5.25% and 5.79% and mature on January 31, 2036, 2041 and 2056, respectively.
MGE plans to use the net proceeds to fund capital expenditures and other corporate obligations. Interest is payable semi-annually starting July 31, 2026. The notes are redeemable at MGE’s option, generally with a make-whole premium, and include a change-of-control prepayment right at 100% of principal plus accrued interest. Key covenants limit the ratio of consolidated indebtedness to consolidated total capitalization to 65% and cap Priority Debt at 20% of consolidated assets.
MGE Energy Inc. officer Cari Anne Renlund, who serves as VP, General Counsel and Secretary, reported a change in her direct ownership of the company’s common stock. On 01/02/2026, a Form 4 transaction coded “F” showed the disposition of 438 shares of common stock at a price of $78.44 per share. After this transaction, she directly beneficially owned 5,319.5459 shares of MGE Energy common stock. A footnote explains that the reported holdings include adjustments for accrued dividends through dividend reinvestment that are exempt from Section 16 reporting under Rule 16a-11.
MGE Energy Inc. Chairman, President & CEO Jeffrey M. Keebler, who also serves as a director, reported one insider transaction involving the company’s common stock. On 01/02/2026, he disposed of 1,216 shares of common stock at a price of $78.44 per share, coded as transaction type F.
Following this transaction, Keebler beneficially owned 21,003.3543 shares of MGE Energy common stock in direct ownership. A footnote explains that this figure includes adjustments for accrued dividends through a dividend reinvestment arrangement that is exempt from Section 16 under Rule 16a-11.
MGE Energy Inc. insider activity: Chairman, President & CEO and Director Jeffrey M. Keebler reported on Form 4 that on 12/04/2025 he acquired 1,900.6589 phantom stock units linked to MGE Energy common stock at a price of $78.92 per unit. These phantom stock units are accrued under MGE's 2023 Deferred Compensation Supplemental Executive Retirement Plan (2023 DCSERP) and are settled in cash according to the plan’s terms. Following this transaction, he beneficially owned a total of 4,782.1704 phantom stock units under the 2023 DCSERP, which amount includes adjustments for accrued dividends through dividend reinvestment.
MGE Energy, Inc. (MGEE) furnished a Regulation FD update. On November 7, 2025, the company posted a financial presentation on its Investor Relations website and furnished the slides as Exhibit 99.1.
Company representatives will meet with investors at the 2025 EEI Financial Conference in Hollywood, Florida, from November 9–11, 2025. The materials are furnished, not filed with the SEC.