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1 insider bought €37k of shares over the last 90 days, the latest by Berbee James G, filed 11 Sept 2026.
MGE Energy Inc: what insiders have been doing
This page follows insider dealings at MGE Energy Inc as filed with SEC (Form 4), a company from the Energy sector based in Madison, United States. The group dates from 2001. 18 insiders have disclosed 29 filings since 20 October 2025.
The flow runs one way only: 1 insider bought (4 purchases totalling €80k) and nobody sold on the market. A purchase on the market is a deliberate choice to commit personal money, which is why it draws more attention than a grant. Those buying include 1 senior executive. Biggest ticket of the year: €25k, bought by Berbee James G and made public on 12 March 2026.
The latest purchase dates back some time: it was published 40 days ago, on 11 September 2026. Between a trade and the moment it shows up on SEC (Form 4), the median delay is 4 days. US insiders must file a Form 4 within two business days of a trade.
With 29 filings in twelve months, the company is more active than the median of 22 filings across the 5,453 companies we follow on the same exchange. The full history, which starts in 2021, counts 28 purchases against no sales. The 10-K for the year ended 31 December 2025 shows 135.9 m USD of net income and a dividend of 1.85 USD per share.
Elsewhere in the same sector, our signals recently picked up insider purchases at AXIA Energia S.A. and RGC Resources Inc. This summary is built from SEC (Form 4) disclosures alone and does not predict where the share price will go.
Insider Decl.
105
Thresholds
n/a
Buy Volume
€567,341
28 ops. · all time
Sell Volume
n/a
n/a
Who traded when
BuySaleJames G. Berbee7 buys
Since the insiders bought
- -6.3%Entry US$76.12 · Close 19 Oct 2026 US$71.31
- +37.4%Entry US$72.60 · Close at T+365 US$99.78
- +3.4%Entry US$74.01 · Close at T+365 US$76.50
Entry is the close on the day after publication, the first price a reader could act on. Prices in the listing currency. Past moves are not a forecast.
Analyst consensus: bullish or bearish?
Analysts rate MGE Energy Inc Hold (neutral), based on 6 analysts. Average price target: US$76.67.
This score ranks the purchase within its own market. A position size is suggested only on the venues of the backtested strategy universe; elsewhere, signals stay on watch. Not investment advice.
Fundamental score
Ranked 11,764 of 26,281 companies
54.3
score / 100
Value46
Quality63
FCF yld-2.9%
Earn yld5.0%
EV/EBITDA11.9x
ROE11%
Gross mgn42%
Net mgn18%
Debt/EBITDA3.0x
Pillars2/3
Transparent value + quality ranking, distinct from the insider signal.
Financial data
as of FY 2025FY ended December 2025 · cache
US$72.27
Analyst consensus
6 analystsHold
US$71.00Target US$76.67(+6%)US$81.00
Income statement
RevenueUS$743.7M
Gross profitUS$308.9M42% margin
EBITDAUS$304.8M41% margin
Net incomeUS$135.9M19.9% margin
Valuation
PER (trailing)17.8x
PER (forward)17.2x
P/Book1.9x
Beta0.69
Balance sheet & cash
Market capUS$2.7B
Total debtUS$908.4M
Free Cash Flow-US$80M
Debt / Equity65%
Profitability & ownership
ROE11.0%
ROA3.7%
% insiders0.3%
% institutions70.4%
Last declaration on 11 September 2026
Declarations105 total
274.742 shares@ US$77.350.0008% mcap3.6% of flowCommon StockSEC:0001193125-26-388717:0
Canonical exit: 8 Dec 2026 (T+90)
261.364 shares@ US$81.300.0008% mcap3.6% of flowCommon StockSEC:0001193125-26-359468:0
Canonical exit: 17 Nov 2026 (T+90)
25,000 shares0Common StockSEC:0001193125-26-167136:0
372.839 shares@ US$77.744.9% of flowCommon StockSEC:0001193125-26-104002:0
Canonical exit: 9 Jun 2026 (T+90)
945 shares0Common StockSEC:0001193125-26-088907:0
1,390 shares0Common StockSEC:0001193125-26-088358:0
1,716 shares0Common StockSEC:0001193125-26-088272:0
688 shares0Common StockSEC:0001193125-26-088441:0
1,374 shares0Common StockSEC:0001193125-26-088418:0
1,116 shares0Common StockSEC:0001193125-26-088315:0
3,684 shares0Common StockSEC:0001193125-26-088305:0
10,905 shares0Common StockSEC:0001193125-26-088253:0
466 shares@ US$78.4433.1% of flowCommon StockSEC:0001193125-26-003952:0
299 shares@ US$78.4430.7% of flowCommon StockSEC:0001193125-26-003924:0
430 shares@ US$78.4438.0% of flowCommon StockSEC:0001193125-26-003912:0
275 shares@ US$78.4426.5% of flowCommon StockSEC:0001193125-26-003898:0
438 shares@ US$78.4433.5% of flowCommon StockSEC:0001193125-26-003891:0
1,216 shares@ US$78.4430.9% of flowCommon StockSEC:0001193125-26-003875:0
173 shares@ US$78.44100.0% of flowCommon StockSEC:0001193125-26-003932:0
2,062 sharesCommon StockSEC:0001193125-26-002462:0
2,062 sharesCommon StockSEC:0001193125-26-002441:0
2,062 sharesCommon StockSEC:0001193125-26-002562:0
2,062 sharesCommon StockSEC:0001193125-26-002546:0
918 sharesCommon StockSEC:0001193125-26-002536:0
2,062 sharesCommon StockSEC:0001193125-26-002524:0
25 of 105 declarations
About MGE Energy Inc
MGE Energy Inc. (ticker: MGEE) is a U.S.-listed utility holding company trading on the NASDAQ market in the United States. For international investors, it is best viewed as a classic regulated utility platform: a holding company whose core operating subsidiary is Madison Gas and Electric Co. (MGE), the regulated electric and natural gas utility serving customers in Wisconsin. The company is headquartered in Madison, Wisconsin, which is also the center of its historical franchise and operating footprint.
MGE Energy’s origins are closely tied to the long history of utility service in the Madison area. The operating utility traces its roots back more than 150 years, while MGE Energy was formed as a holding company in the early 2000s to create a more transparent corporate structure around the regulated utility business and related subsidiaries. This structure is common among U.S. utilities: the parent company owns the principal regulated asset base while also overseeing smaller complementary businesses, all within a tightly regulated rate-setting environment.
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The company’s business model is anchored by two main utility lines: electric distribution and natural gas distribution. According to company disclosures, MGE serves roughly 170,000 electric customers in Dane County and purchases and distributes natural gas to about 180,000 customers across seven south-central and western Wisconsin counties. MGE emphasizes reliability, infrastructure investment, safety, customer service, and decarbonization. A key long-term objective is to achieve net-zero carbon electricity by 2050, underscoring a strategy focused on grid modernization, clean-energy investment, and regulatory compliance rather than rapid expansion.
From a competitive standpoint, MGE Energy has a defensive, regionally concentrated franchise. Its service area is limited in geography, which reduces diversification, but that concentration also supports stable demand, recurring revenue visibility, and a constructive relationship with regulators. Most of the company’s earnings are tied to regulated operations, which typically offer more predictable cash generation than unregulated energy businesses. The company also reports additional segments, including nonregulated energy and transmission investments, providing some diversification, though the overall profile remains squarely within the utility sector.
Recent developments are relevant for investors. In 2026, MGE Energy reported first-quarter results, announced and completed a public equity offering, and continued to highlight solar-related investments. The company also stated that it has raised its dividend for 50 consecutive years, which is an important marker for income-oriented shareholders. For French, Belgian, and Swiss investors, MGEE is therefore a U.S. energy name with a conservative utility profile, a strong local franchise in Wisconsin, a long operating history, and a measured transition strategy aligned with the evolving U.S. power mix on the NASDAQ market in the United States.
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