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 (symbol: MGEE) is a public utility holding company established in 1855, headquartered in Madison, Wisconsin. Through its subsidiaries, the company operates primarily in Wisconsin, providing essential utility services to a wide range of customers.
Core Operations:
- Regulated Electric Utility Operations: MGE Energy generates, purchases, and distributes electricity to approximately 155,000 customers in Dane County, Wisconsin. The company operates electric generation facilities in Wisconsin and Iowa.
- Regulated Gas Utility Operations: The company also purchases and distributes natural gas to around 163,000 customers across seven south-central and western Wisconsin counties, ensuring reliable energy supply.
- Non-regulated Energy Operations: MGE Energy invests in non-regulated energy projects, expanding its footprint beyond traditional utility services.
- Transmission Investments: The company plans, constructs, operates, maintains, and expands transmission facilities to provide dependable transmission services.
- All Other: This segment includes investments in various companies and properties, along with financing activities related to regulated operations.
Energy Sources:
MGE Energy generates electricity from a diverse mix of sources including coal, natural gas, fuel oil, and renewable energy. The company is committed to sustainability, investing in renewable energy projects to reduce its carbon footprint and promote environmental stewardship.
Recent Achievements and Projects:
MGE Energy continues to innovate and expand its services to meet growing demand. Recent projects include the upgrading of transmission infrastructure and the development of new renewable energy facilities.
Financial Condition and Partnerships:
The company's stable financial condition allows it to invest in critical infrastructure and pursue strategic partnerships. This financial stability ensures MGE Energy can continue to provide reliable services to its customers.
Overall, MGE Energy Inc plays a vital role in the energy landscape of Wisconsin, delivering essential utility services with a focus on sustainability and reliability.
MGE Energy (MGEE) reported Q3 2024 earnings of $40.9 million, or $1.13 per share, up from $37.9 million, or $1.05 per share, in Q3 2023. The company's electric net income increased by $3.9 million, driven by increased electric investments in rate base and lower fuel costs. Operating revenues rose to $168.5 million from $160.5 million year-over-year. Gas net income remained relatively stable compared to the previous year. For the six-month period, operating revenues decreased to $505.5 million from $525.8 million, while net income slightly increased to $98.5 million from $97.6 million.
MGE Energy (Nasdaq: MGEE) has declared a regular quarterly dividend of $0.45 per share on its outstanding common stock. The dividend is payable on December 15, 2024, to shareholders of record as of the close of business on December 1, 2024. This announcement continues the company's impressive track record of increasing dividends annually for the past 49 years and maintaining a consistent dividend payment history spanning over 110 years.
MGE Energy (Nasdaq: MGEE) has released its September 2024 'Inside View' investor newsletter, highlighting 49 consecutive years of dividend increases. The newsletter also covers two key initiatives:
1. Expansion of agrivoltaics through livestock grazing at the company's newest solar facility, combining renewable energy generation with agricultural practices.
2. Pursuit of regulatory approval for a pioneering long-duration energy storage project in the United States, demonstrating MGE Energy's commitment to innovative energy solutions.
These developments showcase MGE Energy's focus on sustainable practices and advanced energy technologies, potentially impacting its market position and investor appeal.
MGE Energy (Nasdaq: MGEE) has announced a 5.3% increase in its regular quarterly dividend to $0.45 per share, payable on Sept. 15, 2024, to shareholders of record on Sept. 1, 2024. This raise bumps the annualized dividend rate from $1.71 to $1.80 per share, marking the company's 49th consecutive year of dividend increases. Chairman, President and CEO Jeff Keebler emphasized the company's commitment to sustainable dividend growth and its focus on providing safe, reliable, affordable, and sustainable energy. MGE Energy has maintained a remarkable track record of paying cash dividends for over 110 years, underlining its long-term business strategy and financial stability.
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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