MGEE vs NGG: Which Is the Better Dividend Stock?
As of Nov 5, 2026, MGEE and NGG are closely matched. NGG offers the higher yield at 3.80%, MGEE has the higher dividend-safety score, and NGG looks like the better value (its fair-value estimate is 16% above its share price).
Key facts: MGEE vs NGG
Data as of · Source: SmarterDividends data
- As of Nov 5, 2026, National Grid plc (NGG) has the higher forward dividend yield at 3.80%, versus 2.62% for MGE Energy, Inc. (MGEE).
- As of Nov 5, 2026, SmarterDividends grades MGEE's dividend safety A (93/100) and NGG's C (51/100).
- By SmarterDividends' count as of Nov 5, 2026, MGEE has raised its dividend for 38 consecutive years and NGG for 0.
- As of Nov 5, 2026, MGEE pays out 45% of its earnings as dividends and NGG pays out 72%.
- As of Nov 5, 2026, MGEE's fair-value estimate is 15% below its share price and NGG's fair-value estimate is 16% above its share price, so NGG looks like the better value of the two on SmarterDividends' blended model.
Cite this page
SmarterDividends, "MGEE vs NGG: Dividend Yield, Safety & Value Compared," updated Nov 5, 2026, https://smarterdividends.com/compare/mgee-vs-ngg
| Metric | MGEE | NGG |
|---|---|---|
| Forward yield | 2.62% | 3.80% |
| Annual dividend | $2.03 | $3.24 |
| Payout ratio | 45% | 72% |
| Years of growth | 38 yr | 0 yr |
| 5-yr dividend growth | 5.1% | -0.1% |
| 5-yr total return | 2% | 27% |
| Dividend safety score | 93 (A) | 51 (C) |
| Fair value estimate | $66.64 | $100.21 |
| Upside to fair value | -15% | +16% |
| Frequency | quarterly | semiannual |
| Market cap | $3.0B | $86.9B |
| P/E ratio | 18.1 | 19.7 |
Higher yield
NGG
3.80%
Safer dividend
MGEE
Grade A
Faster growth
MGEE
5.1%
Better value
NGG
+16% upside
MGEE vs NGG — FAQ
Is MGEE or NGG a better dividend stock?
MGEE and NGG are closely matched. NGG has the higher yield; MGEE scores better on safety.
Which has a higher dividend yield, MGEE or NGG?
NGG has the higher forward dividend yield at 3.80%, versus 2.62% for MGEE.
Is MGEE or NGG safer?
MGEE has the higher dividend-safety score (93/100 vs 51/100), reflecting stronger payout coverage and dividend-growth history.
Is MGEE or NGG better value right now?
As of Nov 5, 2026, NGG looks like the better value: its fair-value estimate is 16% above its share price (undervalued). For MGEE, its fair-value estimate is 15% below its share price.
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See more dividend stock comparisons · data refreshes daily · for informational purposes only, not investment advice.