What is MGE Energy, Inc.'s Shariah compliance score?

MGE Energy, Inc.'s (MGEE) compliance score is being calculated. Check HalalScreener.app for the latest AAOIFI screening results.

Does MGE Energy, Inc. pass AAOIFI screening?

MGE Energy, Inc. (MGEE) does not pass AAOIFI Shariah screening. AAOIFI requires: (1) no primary involvement in prohibited activities like alcohol, gambling, or conventional banking, (2) debt-to-market-cap below 30% (MGEE: 30.2%), (3) interest-bearing deposits below 30% (MGEE: 0.2%), and (4) prohibited income below 5% (MGEE: 0.0%). HalalScreener provides free AAOIFI screening for 10,000+ stocks at halalscreener.app.

How much purification is needed for MGE Energy, Inc. stock?

MGE Energy, Inc. (MGEE) has a non-permissible income ratio of 0.00%. Muslim investors should purify this percentage of any dividends received and capital gains realized from MGEE shares by donating it to charity. HalalScreener's purification calculator at halalscreener.app/en/purification automates this calculation using the latest financial data.

Where can I screen MGE Energy, Inc. for Shariah compliance for free?

HalalScreener (halalscreener.app) offers free Shariah compliance screening for MGE Energy, Inc. (MGEE) and 10,000+ other US-listed stocks, ETFs, and 100+ cryptocurrencies. The screening uses AAOIFI Standard No. 21 and shows all financial ratios transparently. No credit card or signup required for basic screening. HalalScreener also includes an AI Islamic Scholar for follow-up questions about MGEE's compliance across different madhabs (Hanafi, Shafi'i, Maliki, Hanbali, Ja'fari).

MGEE: Is MGE Energy, Inc. Halal?

MGE Energy, Inc.

NASDAQUtilitiesUS

$84.23

+3.85%

Market Cap: 3.2B

Compliance Status

Not Halal

Screened on Jul 17, 2026 · AAOIFI Standard 21

Non-Compliant

0Score

Is MGE Energy, Inc. (MGEE) halal? Not Halal. Based on AAOIFI screening, MGE Energy, Inc. passes the business activity screen but fails financial ratio screens with a compliance score of 0/100 (Grade: F).

AvoidBorderlineClean

Business activity

What the company sells is permissible.

Passed

Company debt

Over the limit

How much the company borrows, compared to its total value. AAOIFI allows up to 30%.

30.2% of 30.0% limit

What this means for you

Most scholars advise not holding MGEE

It does not pass AAOIFI Shariah screening.

See halal alternatives from the same sector further down this page

About MGE Energy, Inc.

MGE Energy, Inc. operates as a public utility holding company, primarily conducting its business in Wisconsin through various subsidiary entities. The company's operations are divided into several key segments: Regulated Electric Utility, Regulated Gas Utility, Nonregulated Energy, Transmission Investments, and an "All Other" category. Its core activities involve the generation, acquisition, and delivery of electricity, utilizing owned or leased power generation facilities situated in both Wisconsin and Iowa. Furthermore, MGE Energy undertakes the planning, construction, operation, maintenance, and expansion of transmission infrastructure to provide essential transmission services. The company's electricity generation portfolio includes coal-fired, gas-fired, and renewable energy sources, supplemented by power purchased under both short-term and long-term agreements. As of December 31, 2021, MGE Energy was supplying electricity to 159,000 customers in Dane County, Wisconsin, and distributing natural gas to 169,000 customers across seven Wisconsin counties. The company maintains its corporate headquarters in Madison, Wisconsin.

Sector: Utilities · Industry: Diversified Utilities

Shariah Compliance Status

AAOIFI Standard 21Updated Jul 17, 2026

Compliance History

Not Halalnow
since Jul 2026
Doubtful
until the change above
Not Halal
until the change above

Tracked since May 2026. Updates automatically on each re-screen.

Fiscal: FY 2025Data source: FMP

Halal Alternatives in Utilities

This stock is not Shariah-compliant. Here are halal alternatives from the same sector, ranked by compliance score:

0011.KLA+

Brite-Tech Bhd

$0.25

-0.02%

3069.KLA+

Mega First Corporation Bhd

$2.89

+0.00%

5041.KLA+

PBA Holdings Bhd

$2.01

-0.01%

5209.KLA+

Gas Malaysia Bhd

$5.13

-0.01%

5264.KLA+

Malakoff Corporation Bhd

$0.79

+0.00%

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AEP

American Electric Power Company, Inc.

SRE

Sempra

B+

Dominion Energy, Inc.

Free · No credit card required

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Frequently Asked Questions

Is MGE Energy, Inc. (MGEE) halal to invest in?

MGE Energy, Inc. (MGEE) is rated Not Halal under AAOIFI Standard 21 screening. It fails either the business activity screen (primary involvement in prohibited sectors such as conventional banking, alcohol, or gambling) or one of the quantitative financial ratio thresholds. Muslim investors should avoid or exit this position.

Why did MGE Energy, Inc. get a F compliance rating?

MGE Energy, Inc. (MGEE) received a grade of F (Non-Compliant) based on three AAOIFI Standard 21 financial ratios: debt-to-market-cap of 30.2% (limit 30%); interest-bearing deposits of 0.2% (limit 30%); prohibited income of 0.00% (limit 5%). The grade reflects the margin of safety across all three ratios relative to their thresholds.

What could change MGE Energy, Inc.'s Shariah verdict?

MGE Energy, Inc.'s verdict is re-evaluated at each annual re-screen. Three events could change it: (1) the debt-to-market-cap ratio crossing 30%, typically from new debt issuance or a major drop in share price; (2) interest-bearing deposits exceeding 30% of market cap; or (3) prohibited revenue (alcohol, gambling, conventional finance, etc.) exceeding 5% of total revenue. Verdict flips are tracked in the compliance history section above.

How often is MGE Energy, Inc. re-screened for Shariah compliance?

MGE Energy, Inc. (MGEE) is re-screened annually using the most recent full-year financial data from SEC filings. HalalScreener also triggers an on-demand re-screen whenever the stored data is more than 7 days old, ensuring the ratios reflect the latest available financial statements. Last screened: Jul 17, 2026.

Screened according to AAOIFI Standard No. 21 · For informational purposes only. Consult a qualified Islamic finance advisor before investing.

Disclaimer: This screening is for informational purposes only and does not constitute financial, legal, or religious advice. Compliance is evaluated using AAOIFI financial standards (debt, deposits, and prohibited income ratios) and publicly available data. Ethical, political, social, or environmental considerations are outside the scope of this screening. Individual scholars and methodologies may differ. Always consult a qualified Islamic finance advisor before making investment decisions.