OGE Energy (NYSE:OGE) Posts Earnings Results, Misses Estimates By $0.03 EPS

OGE Energy (NYSE:OGE) announced its quarterly earnings data on Tuesday. The utilities provider reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.03), Briefing.com reports. The firm had revenue of $965.40 million during the quarter, compared to analysts’ expectations of $1.02 billion. OGE Energy had a return on equity of 9.15% and a net margin of 14.83%. The company’s revenue was up 2.1% compared to the same quarter last year. During the same period last year, the business posted $1.20 EPS. OGE Energy updated its FY 2024 guidance to 2.180-2.180 EPS and its FY24 guidance to $2.06-2.18 EPS.

OGE Energy Trading Up 2.8 %

Shares of OGE stock opened at $42.19 on Thursday. The company has a market capitalization of $8.47 billion, a PE ratio of 21.86, a price-to-earnings-growth ratio of 3.55 and a beta of 0.74. OGE Energy has a 52-week low of $32.06 and a 52-week high of $42.26. The business’s fifty day moving average is $40.41 and its 200 day moving average is $37.98. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.36 and a current ratio of 0.71.

OGE Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Monday, October 7th were given a dividend of $0.4213 per share. This is a positive change from OGE Energy’s previous quarterly dividend of $0.42. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date of this dividend was Monday, October 7th. OGE Energy’s payout ratio is 87.05%.

Analyst Ratings Changes

Several research firms have recently weighed in on OGE. Jefferies Financial Group assumed coverage on shares of OGE Energy in a research note on Thursday, September 19th. They issued a “buy” rating and a $46.00 target price for the company. Evercore ISI boosted their target price on shares of OGE Energy from $36.00 to $40.00 and gave the company an “in-line” rating in a report on Thursday, August 8th. Finally, Barclays raised their price target on OGE Energy from $39.00 to $42.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $39.40.

OGE Energy Company Profile

OGE Energy Corp., together with its subsidiaries, operates as an energy services provider in the United States. The company generates, transmits, distributes, and sells electric energy. In addition, it provides retail electric service to approximately 896,000 customers, which covers a service area of approximately 30,000 square miles in Oklahoma and western Arkansas; and owns and operates coal-fired, natural gas-fired, wind-powered, and solar-powered generating assets.