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

by · The Markets Daily

OGE Energy (NYSE:OGE – Get Free Report) released its earnings results on Tuesday. The utilities provider reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.03), Briefing.com reports. OGE Energy had a net margin of 14.83% and a return on equity of 9.15%. The firm had revenue of $965.40 million for the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter last year, the firm posted $1.20 EPS. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. 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 Price Performance

Shares of OGE Energy stock traded up $0.76 during trading hours on Wednesday, reaching $41.79. The company’s stock had a trading volume of 583,487 shares, compared to its average volume of 1,287,446. The firm has a 50 day moving average price of $40.35 and a 200-day moving average price of $37.95. OGE Energy has a one year low of $32.06 and a one year high of $41.82. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.71 and a quick ratio of 0.36. The stock has a market cap of $8.39 billion, a P/E ratio of 20.11, a P/E/G ratio of 3.53 and a beta of 0.74.

OGE Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Monday, October 7th were issued a $0.4213 dividend. The ex-dividend date was Monday, October 7th. This is an increase 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 4.03%. OGE Energy’s payout ratio is 82.35%.

Analyst Ratings Changes

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

Read Our Latest Analysis on OGE

About OGE Energy

(Get Free Report)

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.

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