What is the 13F Pro Quality Score for MGEE?

13F Pro ranks MGE ENERGY INC (MGEE) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View MGEE's current score at https://13fpro.ai/research/MGEE (free sign-up required for the full ranking).

Which hedge funds own the most MGEE stock?

Based on the most recent Form 13F-HR filings on SEC EDGAR, the largest reported institutional holders of MGEE include BlackRock,, VANGUARD PORTFOLIO MANAGEMENT, STATE STREET. Holdings are reported quarterly within 45 days of quarter-end and updated on https://13fpro.ai/research/MGEE as soon as new 13F filings post.

Where does 13F Pro source MGEE data?

All MGE ENERGY INC fundamentals and ownership data come directly from SEC EDGAR. MGE ENERGY INC files with the SEC under CIK 1161728. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is MGEE in?

MGE ENERGY INC (MGEE) is classified in the Utilities sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/utilities.

How often is MGEE research updated on 13F Pro?

MGEE's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

MGE ENERGY INC(MGEE)Stock Analysis

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13F Pro Quality Score

Not in ranked universe

Pending next ranking run

This company passes all size and coverage filters but hasn't been included in the latest quarterly ranking run. Rankings refresh on Jan 1, Apr 1, Jul 1, Oct 1.

Financial data, filings, and institutional holdings below are still tracked in full — only the proprietary quality composite is unavailable for this name.

MGEE Stock Analysis & AI Quality Score

AI stock analysis and institutional research for MGE ENERGY INC (MGEE), a Utilities sector company. MGEE is not currently included in 13F Pro's AI-ranked quality universe — this company passes all size and coverage filters but hasn't been included in the latest quarterly ranking run. rankings refresh on jan 1, apr 1, jul 1, oct 1. Based on the latest XBRL financial filings (Q1 2026), MGE ENERGY INC reports net income of $48.5M, free cash flow of $-20.4M. Top institutional holders of MGEE by reported 13-F value include BlackRock,, VANGUARD PORTFOLIO MANAGEMENT, STATE STREET, based on the most recent SEC filings. MGEE trades on the Nasdaq exchange and files with the SEC under CIK 1161728. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate MGEE daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for MGE ENERGY INC directly from SEC EDGAR.

Net Income

Q1 2026

$48.5M

Free Cash Flow

Q1 2026

$-20.4M

ROIC

Q1 2026

2.4%

D/E Ratio

Q1 2026

0.70

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro+

Revenue

+9.9% YoY

$743.7MFY 2025

FY22 $714.5MFY23 $690.4MFY24 $676.9MFY25 $743.7M

Net Income

+12.7% YoY

$135.9MFY 2025

FY22 $111.0MFY23 $117.7MFY24 $120.6MFY25 $135.9M

Operating Income

+16.7% YoY

$170.7MFY 2025

FY22 $137.7MFY23 $146.4MFY24 $146.3MFY25 $170.7M

EPS (Diluted)

+11.7% YoY

$3.72FY 2025

FY22 $3.07FY23 $3.25FY24 $3.33FY25 $3.72

Total Assets

+11.6% YoY

$3.16BFY 2025

FY22 $2.52BFY23 $2.68BFY24 $2.83BFY25 $3.16B

Total Debt

+18.1% YoY

$908.4MFY 2025

FY22 $710.1MFY23 $762.0MFY24 $769.0MFY25 $908.4M

Op. Cash Flow

-5.2% YoY

$263.2MFY 2025

FY22 $153.7MFY23 $237.6MFY24 $277.8MFY25 $263.2M

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Revenue	$743.7M +9.9%	$676.9M -2.0%	$690.4M -3.4%	$714.5M +17.8%	$606.6M +12.6%	$538.6M
Net Income	$135.9M +12.7%	$120.6M +2.4%	$117.7M +6.1%	$111.0M +4.9%	$105.8M +14.4%	$92.4M
Operating Income	$170.7M +16.7%	$146.3M -0.1%	$146.4M +6.3%	$137.7M +17.4%	$117.3M +6.6%	$110.0M
EPS (Diluted)	$3.72 +11.7%	$3.33 +2.5%	$3.25 +5.9%	$3.07 +5.1%	$2.92 +12.3%	$2.60
Total Assets	$3.16B +11.6%	$2.83B +5.7%	$2.68B +6.3%	$2.52B +6.1%	$2.37B +5.2%	$2.25B
Total Debt	$908.4M +18.1%	$769.0M +0.9%	$762.0M +7.3%	$710.1M +13.7%	$624.6M +8.3%	$576.6M
Operating Cash Flow	$263.2M -5.2%	$277.8M +16.9%	$237.6M +54.5%	$153.7M +11.8%	$137.5M -20.2%	$172.4M

AI Insight: MGEE Financial Trends

MGE Energy's debt has surged 20% since Q2 2024 while operating cash flow remains volatile, raising capital structure concerns.

• Total debt climbed from $781M (Q2 2024) to $941M (Q1 2026), a $160M increase over 8 quarters.

• Operating cash flow swung from $95M in Q3 2025 to $34M in Q4 2025—lowest level in dataset.

• Equity grew 15% from $1,168M to $1,349M, but debt grew faster, expanding leverage.

⚠ Q4 2025 operating cash flow of $34M contracted sharply from Q3 2025's $95M; monitor seasonal vs structural deterioration.

⚠ Debt-to-equity ratio increased from 0.67x (Q2 2024) to 0.70x (Q1 2026); track refinancing costs.

AI Insight: MGEE Ratio Trends

MGEE shows seasonal earnings volatility with Q1 2026 ROE rebounding to 14.4%, but leverage has drifted back to 0.70 D/E after 6-quarter deleveraging trend.

• Q1 2026 ROE jumped to 14.4% from 7.1% in Q4 2025, continuing strong Q1 seasonal pattern seen in prior year.

• D/E ratio rose from 0.61 in Q1–Q2 2025 to 0.70 by Q1 2026, erasing four quarters of leverage reduction.

• TTM ROIC of 7.5% sits below peak Q1 2025 level of 10.4%, signaling cyclical earnings compression.

⚠ Leverage bounce to 0.70 D/E marks reversal of prior deleveraging discipline; monitor capital allocation priorities.

⚠ Q4 and Q2 quarters consistently show 40–50% ROIC decline versus Q1/Q3 peaks — sustained seasonality risk.

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Available Research

13F Pro tracks comprehensive data for MGE ENERGY INC including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of MGEE

BlackRock, Inc.
$422.0M5,459,694 sh
VANGUARD PORTFOLIO MANAGEMENT LLC
$205.8M2,663,101 sh
STATE STREET CORP
$148.3M1,918,678 sh
VANGUARD CAPITAL MANAGEMENT LLC
$126.8M1,641,026 sh
GEODE CAPITAL MANAGEMENT, LLC
$71.6M925,771 sh
DIMENSIONAL FUND ADVISORS LP
$52.9M684,267 sh
FIRST TRUST ADVISORS LP
$34.5M446,870 sh
CHARLES SCHWAB INVESTMENT MANAGEMENT INC
$32.3M418,151 sh
NORTHERN TRUST CORP
$27.9M360,849 sh
Qube Research & Technologies Ltd
$25.5M330,037 sh

Fund	Value	Shares
BlackRock, Inc.	$422.0M	5,459,694
VANGUARD PORTFOLIO MANAGEMENT LLC	$205.8M	2,663,101
STATE STREET CORP	$148.3M	1,918,678
VANGUARD CAPITAL MANAGEMENT LLC	$126.8M	1,641,026
GEODE CAPITAL MANAGEMENT, LLC	$71.6M	925,771
DIMENSIONAL FUND ADVISORS LP	$52.9M	684,267
FIRST TRUST ADVISORS LP	$34.5M	446,870
CHARLES SCHWAB INVESTMENT MANAGEMENT INC	$32.3M	418,151
NORTHERN TRUST CORP	$27.9M	360,849
Qube Research & Technologies Ltd	$25.5M	330,037

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Is MGEE a good stock to buy?

13F Pro's AI-powered analysis of MGE ENERGY INC (MGEE) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Utilities sector (listed on Nasdaq). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for MGEE are available on the MGEE stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.

Which hedge funds own MGEE?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling MGEE. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of MGE ENERGY INC's investment landscape.