MGE Energy Inc
MGEE
ISIN US55277P1049 / Valor 1470628
MGE Energy Inc
UMushroom community rating:
About company
MGE Energy Inc is a holding company based in Madison, WI, and serves as the parent company of the regulated utility Madison Gas and Electric Co. With a focus on prudent investments in its core utility business, MGE Energy has steadily grown its assets over the last 50 years. The company's primary business revolves around providing energy services to customers in the Madison area through its subsidiary, Madison Gas and Electric Co.
Summarized from source with an LLMView SourceSector: EnergyLatest Results (14.08.2024):
Fourth Quarter Earnings
MGE Energy Inc's earnings for the fourth quarter of 2023 were $20.1 million, or 55 cents per share, compared to $21.1 million, or 58 cents per share, for the same period in the prior year. This represents a slight decrease in earnings per share year-over-year.
Operating Revenues
For the fourth quarter of 2023, MGE Energy Inc reported operating revenues of $164.7 million, down from $189.8 million in the fourth quarter of 2022. This decline in revenue is attributed to various factors including warmer-than-normal weather.
Annual Financial Performance
For the year ended December 31, 2023, MGE Energy Inc reported operating revenues of $690.4 million, a decrease from $714.5 million in 2022. Despite the drop in revenue, the company saw an increase in net income to $117.7 million from $111.0 million in the previous year.
Gas Retail Therm Deliveries
During the fourth quarter of 2023, MGE Energy Inc experienced a 15% decrease in gas retail therm deliveries compared to the same period in 2022. This reduction was primarily due to warmer-than-normal weather conditions throughout the year.
Renewable Energy Investments
MGE Energy Inc continues to invest in renewable energy projects, which is contributing to the company's asset growth. The Red Barn wind project was completed in April 2023, and the Badger Hollow II solar project was completed in December 2023, reflecting the company's commitment to sustainable energy solutions.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
3449 M
Market cap (USD)
21,861
Daily traded volume (Shares)
95.25 / 93.9
1 day high/low (USD)
52 weeks high/low (USD)
Dividend ex-date
Dividend (USD)
Dividend yield (p.a.)
Est dividend (USD)
Est dividend yield
P/E ratio
Est P/E ratio
EPS (USD)
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Ratings & reviews
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