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.
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.
MGE Energy, Inc. (Nasdaq: MGEE) declared a quarterly dividend of $0.37 per share on common stock, payable on December 15, 2020, to shareholders of record as of December 1, 2020. This marks the company's 45th consecutive year of annual dividend increases and extends its history of cash dividends to over 110 years. MGE Energy operates as a public utility holding company, providing electricity and natural gas services to customers in Wisconsin.
Madison Gas and Electric (MGE) has received approval from the Public Service Commission of Wisconsin for a 20-MW solar array, the O'Brien Solar Fields, in Fitchburg, Wisconsin. This project is set to provide cost-effective, carbon-free energy to local businesses and institutions through MGE's Renewable Energy Rider (RER). Construction is expected to begin this year, with completion projected for 2021 at an estimated cost of $32 million. The solar fields will be the largest in Dane County, supporting MGE’s goal of achieving net-zero carbon electricity by 2050.
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