Bullish indicating open at $55-$60, IPO prices at $37
MADISON, WI - MGE Energy, Inc. (NASDAQ:MGEE), a utility company whose stock has delivered an impressive 52% return over the past year, and its subsidiary Madison Gas and Electric Company disclosed in a recent SEC filing that Lynn Hobbie, Executive Vice President – Marketing and Communications, has announced her intention to retire by the end of 2025. The announcement was made on February 21, 2025, and was officially filed with the SEC today.
Lynn Hobbie has played a significant role in the company’s marketing and communications initiatives. The details surrounding her departure and any potential successors have not been disclosed as of this report.
MGE Energy, based in Madison, Wisconsin, is a utility holding company engaged in generating and distributing electricity to customers in the region. Madison Gas and Electric Company, the primary subsidiary, provides electric and gas services.
The company’s filing did not indicate any immediate financial impact resulting from Hobbie’s planned retirement. The full implications for the company’s marketing and communications strategy will unfold as the transition progresses through the year.
This development is part of the natural cycle of executive management within corporations, as senior officers occasionally step down, paving the way for new leadership.
Investors and stakeholders of MGE Energy can refer to the company’s SEC filings for further details and updates on this and other corporate matters. The information in this article is based on a press release statement issued by MGE Energy, Inc. and Madison Gas and Electric Company.
In other recent news, Ladenburg Thalmann has initiated coverage on MGE Energy with a Sell rating, setting a price target of $77.00. The firm expressed concerns about MGE Energy’s current valuation, noting that the stock is trading at a 68% premium compared to its regulated utility group peers. This premium is significantly higher than the company’s 4-year historical average premium of approximately 23%. Ladenburg Thalmann’s analysis suggests that market consensus estimates for MGE Energy’s earnings might be overly optimistic. Their estimates are between 6% to 11% lower than the consensus, projecting a compound annual growth rate of around 6.1% over the next five years, starting from the 2023 earnings per share. Despite acknowledging MGE Energy’s strong financial position and favorable regulatory environment in Wisconsin, the firm advises investors to consider divesting due to the stock’s elevated price levels. Ladenburg Thalmann’s report emphasizes caution, indicating that the current premium might not be sustainable. Investors will be keenly observing MGE Energy’s performance to see if it aligns with these projections and whether the market adjusts its valuation accordingly.
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