MGE Energy, Inc.
MGEE38 yrs growthUtilities · Stock · quarterly payer
Forward Yield
2.64%
Annual Dividend
$2.03
Payout Ratio
47%
5-Yr Growth
5.1%
Ex-Date
Sep 1, 2026
Frequency
Quarterly
Summary
As of September 2026, MGE Energy, Inc. (MGEE) yields 2.64% ($2.03 per share annually), with a blended fair-value estimate of $60.36 — -23% downside, so it screens as overvalued. Dividend safety grade: A (93/100). 38 years of dividend growth.
Is MGEE a good dividend stock?
YesMGE Energy, Inc. (MGEE) pays a quarterly dividend yielding 2.64% ($2.03/yr), with 38 years of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding.
Advantages
- Dividend Aristocrat — 38 consecutive years of growth
- Never cut its dividend on record
- Comfortable payout ratio (47%)
- Strong 5.1% 5-yr dividend growth
- Top-tier dividend safety score
Risks
- Single-stock concentration risk — diversify
Key Data
- Dividend Yield
- 2.64%
- Payout Ratio
- 47%
- Annual Dividend
- $2.03
- 5-Yr Avg Growth
- 5.1%
- Ex-Dividend Date
- Sep 1, 2026
- Years of Growth
- 38
- Frequency
- quarterly
- Beta
- 0.70
- Market Cap
- $2.9B
- P/E Ratio
- 19.0
- 5-Yr Total Return
- 6%
- 52-Week Range
- $72.16 – $87.94
- Dividend Safety
- A · 93/100
- Ever Cut?
- No
Frequently Asked Questions
MGEE Price — Last 12 Months
Daily close
Price Return
1 Year
-7%
3 Years
+14%
5 Years
+6%
52-Week Range
$72.16 – $87.94
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is MGEE worth?
Overvaluedmedium confidenceOur blended fair-value estimate for MGE Energy, Inc. is $60.36 per share, versus a market price of $78.15. That implies 23% of downside.
Fair Value
$60.36
Current Price
$78.15
Downside
-23%
Margin of Safety
-29%
How we get there
Dividend discount
Discounts the future dividend stream back to today.
Earnings multiple (Graham)
Graham's earnings-multiple formula, anchored to bond yields.
At today's price, the market is pricing in about 40.0% annual free-cash-flow growth. We model 6.2% — so the price already assumes faster growth than we think is likely.
Assumptions: 7.8% discount rate (CAPM), 6.2% stage-1 growth, 2.5% terminal growth, $4.06 EPS, $2.03 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
MGEE Dividend Safety Score
Very Safe
SmarterDividends' proprietary score, backtested against which dividends were actually cut over 15+ years (0.78 AUC). It blends a validated cut-risk model (growth streak, cut history) with current payout, cash-flow and debt. Higher is safer · not investment advice.
Dividend Growth
Total dividends per share by year
Dividend History
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Sep 1, 2026 | — | $0.5080 | regular |
| Jun 1, 2026 | — | $0.4750 | regular |
| Feb 27, 2026 | — | $0.4750 | regular |
| Dec 1, 2025 | — | $0.4750 | regular |
| Aug 29, 2025 | — | $0.4750 | regular |
| May 30, 2025 | — | $0.4500 | regular |
| Feb 28, 2025 | — | $0.4500 | regular |
| Nov 29, 2024 | — | $0.4500 | regular |
| Aug 30, 2024 | — | $0.4500 | regular |
| May 31, 2024 | — | $0.4280 | regular |
| Feb 29, 2024 | — | $0.4280 | regular |
| Nov 30, 2023 | — | $0.4280 | regular |
| Aug 31, 2023 | — | $0.4280 | regular |
| May 31, 2023 | — | $0.4080 | regular |
Income Calculator
At $2.03 / yr per share
