MGE Energy, Inc. (MGEE)

MGE Energy Stock Forecast

Stock Price Forecast

The 2 analysts that cover MGE Energy stock have a consensus rating of "Sell" and an average price target of $78, which forecasts a 7.66% increase in the stock price over the next year. The lowest target is $73 and the highest is $83.

Price Target: $78 (+7.66%)

Analyst Consensus: Sell

Target	Low	Average	Median	High
Price	$73	$78	$83	$83
Change	+0.76%	+7.66%	+14.56%	+14.56%

* Price targets were last updated on Feb 2, 2026.

Analyst Ratings

The average analyst rating for MGE Energy stock is "Sell". This means that analysts believe this stock is likely to lead to lower returns than market as a whole.

Recommendation Trends

Rating	Oct '25	Nov '25	Dec '25	Jan '26	Feb '26	Mar '26
Strong Buy	0	0	0	0	0	0
Buy	0	0	0	0	0	0
Hold	1	1	1	1	1	1
Sell	1	1	1	1	1	1
Strong Sell	0	0	0	0	0	0
Total	2	2	2	2	2	2

Latest Forecasts

Analyst	Firm	Rating	Rating	Action	Price Target	Upside	Date
Stephen Byrd Morgan Stanley	Morgan Stanley	Sell Maintains $74 → $73	Sell	Maintains	$74 → $73	+0.76%	Feb 2, 2026
Stephen Byrd Morgan Stanley	Morgan Stanley	Sell Maintains $76 → $75	Sell	Maintains	$76 → $75	+3.52%	Sep 25, 2025
Paul Fremont Ladenburg Thalmann	Ladenburg Thalmann	Strong Sell → Hold Upgrades $69 → $83	Strong Sell → Hold	Upgrades	$69 → $83	+14.56%	Sep 11, 2025
Stephen Byrd Morgan Stanley	Morgan Stanley	Sell Maintains $75 → $74	Sell	Maintains	$75 → $74	+2.14%	May 22, 2025
Stephen Byrd Morgan Stanley	Morgan Stanley	Sell Maintains $80 → $75	Sell	Maintains	$80 → $75	+3.52%	Apr 23, 2025

More Analyst Ratings

Financial Forecast

Revenue This Year

755.87M

Increased by 4.02%

from 726.65M

Revenue Next Year

776.78M

Increased by 2.77%

from 755.87M

EPS This Year

3.99

Increased by 7.14%

from 3.72

EPS Next Year

4.20

Increased by 5.49%

from 3.99

Fiscal Year	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	FY 2026	FY 2027
Period Ending	Dec 31, 2021	Dec 31, 2022	Dec 31, 2023	Dec 31, 2024	Dec 31, 2025	Dec 31, 2026	Dec 31, 2027
Revenue	593.08M	699.82M	673.93M	659.94M	726.65M	755.87M	776.78M
Revenue Growth	13.07%	18.00%	-3.70%	-2.08%	10.11%	4.02%	2.77%
EPS	2.92	3.07	3.25	3.33	3.72	3.99	4.20
EPS Growth	12.52%	5.07%	5.93%	2.45%	11.71%	7.14%	5.49%
Forward PE	-	-	-	-	-	18.18	17.23
No. Analysts	-	-	-	-	-	4	4

Historical EPS numbers are GAAP, while forecasted numbers may be non-GAAP.

Revenue Forecast

Revenue	2026	2027	2028	2029	2030
High	803.4M	821.2M
Avg	755.9M	776.8M
Low	702.7M	726.2M

Revenue Growth

Revenue Growth	2026	2027	2028	2029	2030
High	10.6%	8.6%
Avg	4.0%	2.8%
Low	-3.3%	-3.9%

EPS Forecast

EPS	2026	2027	2028	2029	2030
High	4.15	4.40
Avg	3.99	4.20
Low	3.79	3.97

EPS Growth

EPS Growth	2026	2027	2028	2029	2030
High	11.5%	10.4%
Avg	7.1%	5.5%
Low	1.8%	-0.3%

Sources: Price targets and analyst ratings provided by Benzinga. Revenue and EPS forecast data provided by Finnhub. The data is sourced from Wall Street analysts. Data disclaimer.