“The average retail rate per therm excluding customer fixed charges for the six months ended June 30, 2026, increased approximately 18% compared to the same period in the prior year, reflecting an increase in natural gas commodity costs (recovered through the…”10-Q · Aug 5, 2026 ↗
MGE Energy, Inc.
MGEE
Market read
MGE Energy, Inc.'s move is spreading beyond its market group.
No new filing conclusion is available. 6 of 12 group members are active now; 1 filing-linked outsider is moving with the group, and 0 of 3 directly disclosed connections are confirming.
- At least 8 of 12 durable members become active together.
- Capital-flow agreement rises above 55%.
- CNP remains aligned with the group in the next market snapshot.
Invalidation: The live read weakens if participation falls to 4 of 12 members or fewer.
Research brief
The story so far
No new filing conclusion is available. 6 of 12 group members are active now; 1 filing-linked outsider is moving with the group, and 0 of 3 directly disclosed connections are confirming.
No thresholded supportive filing evidence is available yet.
No thresholded adverse filing evidence is available yet.
- At least 8 of 12 durable members become active together.
- Capital-flow agreement rises above 55%.
- CNP remains aligned with the group in the next market snapshot.
Company research
Understand the business, not just the ticker
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
- Energy and commodity prices has repeated favorable evidence across 5 filings.
- Demand and volume has repeated favorable evidence across 3 filings.
- Supply chain and availability has repeated adverse evidence across 5 filings.
No credible peer-relative valuation comparison is available yet.
Price as of Sep 11, 2026
76.45What management says matters
Persistent and emerging business drivers
“Rate increase Return on Common Equity Common Equity Component of Regulatory Capital Structure Effective Date Approved 2024/2025 rate proceeding (a)(b) Electric (c) 2.63 % 9.7 % 56.1 % 1/1/2025 Gas 1.32 % 9.7 % 56.1 % 1/1/2025 Approved 2026/2027 settlement (b)…”10-Q · Aug 5, 2026 ↗
“Regulatory assets represent costs which are deferred due to the probable future recovery from customers through regulated rates, while regulatory liabilities represent the excess recovery of costs or accrued credits which were deferred because management beli…”10-K · Feb 24, 2026 ↗
“During the six months ended June 30, 2026, fixed and demand charges increased $1.1 million, primarily attributable to the increase in demand charges for commercial customers.”10-Q · Aug 5, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales — · EV/sales —. Comparisons use only industry-matched filing peers.
Fewer than 4 annual revenue periods; too little history to scaffold scenarios.
Price action
How the market is pricing the story
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for MGEE. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
No comparable filing assessment is available yet
Jodie has not yet found a suitable current-versus-prior filing comparison for MGEE. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
The relationships behind MGEE
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
WECWEC Energy Group, Inc.competitorNov 5, 2025 ▾
“ower Company, a subsidiary of WEC Energy Group, Inc.”
JPMJPMorgan Chase & Co.lenderFeb 24, 2026 ▾
“10.1 Second Amended and Restated Credit Agreement dated as of November 8, 2022, among MGE Energy, Inc., the Lenders party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent.”
CAQFiling-linked nameinvesteeFeb 24, 2026 ▾
“If approved, the project is expected to be placed in service in 2028.”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
MGEE is currently a Participant in the organic co-movement group Regulated Water Utilities. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.