MGE Energy Stock Forecast

Stock Price Forecast

The 3 analysts with 12-month price forecasts for MGE Energy stock have an average target of 77.33, with a low estimate of 74 and a high estimate of 81. The average target predicts a decrease of -3.07% from the current stock price of 79.78.

Analyst Consensus: Hold

Target	Low	Average	Median	High
Price	$74	$77.33	$77	$81
Change	-7.24%	-3.07%	-3.48%	+1.53%

Analyst Ratings

The average analyst rating for MGE Energy stock from 4 stock analysts 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	-7.24%	Jun 24, 2026
Paul Fremont Ladenburg Thalmann & Co.	Ladenburg Thalmann & Co.	Buy Upgrades $84 → $81	Buy	Upgrades	$84 → $81	+1.53%	Jun 8, 2026
Matvey Tayts Freedom Capital Markets	Freedom Capital Markets	Hold Initiates $77	Hold	Initiates	$77	-3.48%	May 29, 2026

More Analyst Ratings

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

3.94

from 3.72

5.85%

from 3.72

EPS Next Year

4.17

from 3.94

5.97%

from 3.94

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	778.95M	822.02M
Revenue Growth	13.07%	18.00%	-3.70%	-2.08%	10.11%	7.20%	5.53%
EPS	2.92	3.07	3.25	3.33	3.72	3.90	4.08
EPS Growth	12.52%	5.07%	5.93%	2.45%	11.71%	4.72%	4.62%
Forward PE	-	-	-	-	-	20.48	19.58
No. Analysts	-	-	-	-	-	4	4

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

Revenue Forecast

Revenue	2026	2027
High	796.2M	865.1M
Avg	778.9M	822.0M
Low	747.0M	775.0M

Revenue Growth

Revenue Growth	2026	2027
High	9.6%	11.1%
Avg	7.2%	5.5%
Low	2.8%	-0.5%

EPS Forecast

EPS	2026	2027
High	3.98	4.29
Avg	3.94	4.17
Low	3.83	3.86

EPS Growth

EPS Growth	2026	2027
High	7.0%	9.0%
Avg	5.8%	6.0%
Low	3.0%	-2.0%

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.