MGE Energy Stock Forecast

Stock Price Forecast

According to 4 analysts polled by S&P Global, MGE Energy stock has a consensus rating of "Hold" and an average price target of $77.25. The average 1-year stock price forecast is 5.53% lower than the current stock price, while the lowest is $74 (-9.50%) and the highest is $81 (-0.94%).

Price Target: $77.25 (-5.53%)

Analyst Consensus: Hold

Target	Low	Average	Median	High
Price	$74	$77.25	$77	$81
Change	-9.50%	-5.53%	-5.83%	-0.94%

Analyst Ratings

The average analyst rating for MGE Energy stock is "Hold". This means that analysts believe this stock is likely to perform similarly to the overall market.

Recommendation Trends

Rating	Jan '26	Feb '26	Mar '26	Apr '26	May '26	Jun '26
Strong Buy	0	0	0	0	0	1
Buy	0	0	1	1	0	0
Hold	2	2	0	0	2	2
Sell	0	0	0	0	0	0
Strong Sell	1	1	1	1	1	1
Total	3	3	2	2	3	4

Latest Forecasts

Analyst	Firm	Rating	Rating	Action	Price Target	Upside	Date
David Arcaro Morgan Stanley	Morgan Stanley	Sell Maintains $70 → $74	Sell	Maintains	$70 → $74	-9.50%	Jun 24, 2026
Paul Fremont Ladenburg Thalmann & Co.	Ladenburg Thalmann & Co.	Buy Upgrades $84 → $81	Buy	Upgrades	$84 → $81	-0.94%	Jun 8, 2026
Matvey Tayts Freedom Capital Markets	Freedom Capital Markets	Hold Initiates $77	Hold	Initiates	$77	-5.83%	May 29, 2026

Financial Forecast

Revenue This Year

778.95M

from 726.65M

7.20%

from 726.65M

Revenue Next Year

822.02M

from 778.95M

5.53%

from 778.95M

EPS This Year

3.93

from 3.72

5.65%

from 3.72

EPS Next Year

4.14

from 3.93

5.34%

from 3.93

Fiscal Year	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	FY 2026
Period Ending	Dec 31, 2021	Dec 31, 2022	Dec 31, 2023	Dec 31, 2024	Dec 31, 2025	Dec 31, 2026
Revenue	593.08M	699.82M	673.93M	659.94M	726.65M	778.95M
Revenue Growth	13.07%	18.00%	-3.70%	-2.08%	10.11%	7.20%
Net Income	105.76M	110.95M	117.70M	120.57M	135.89M	145.33M
EPS	-	-	-	-	3.72	3.93
EPS Growth	-	-	-	-	11.71%	5.65%
Forward PE	25.24	25.24	25.24	25.24	25.24	20.81
Dividend / Share	1.52	1.59	1.67	1.76	1.85	1.96
Dividend Growth	-	4.61%	5.03%	5.39%	5.11%	5.95%
No. Analysts	-	-	-	-	-	4

EPS and Forward PE are based on non-GAAP adjusted numbers.

Revenue Forecast

Revenue	2026	2027	2028
High	796.2M
Avg	778.9M
Low	747.0M

Revenue Growth

Revenue Growth	2026	2027	2028
High	9.6%
Avg	7.2%
Low	2.8%

EPS Forecast

EPS	2026	2027	2028
High	3.98
Avg	3.93
Low	3.83

EPS Growth

EPS Growth	2026	2027	2028
High	7.0%
Avg	5.6%
Low	3.0%