OGE Energy (NYSE:OGE) Issues FY24 Earnings Guidance

OGE Energy (NYSE:OGE) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $2.06-2.18 for the period, compared to the consensus estimate of $2.15. OGE Energy also updated its FY 2024 guidance to 2.180-2.180 EPS.

OGE Energy Price Performance

Shares of OGE traded up $1.00 during midday trading on Tuesday, reaching $40.84. The stock had a trading volume of 878,554 shares, compared to its average volume of 1,287,495. OGE Energy has a 52 week low of $32.06 and a 52 week high of $41.48. 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 company has a market capitalization of $8.20 billion, a P/E ratio of 19.53, a P/E/G ratio of 3.53 and a beta of 0.74. The firm’s 50 day moving average price is $40.32 and its 200-day moving average price is $37.90.

OGE Energy (NYSE:OGE) last released its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.05. The company had revenue of $662.60 million for the quarter, compared to analysts’ expectations of $837.51 million. OGE Energy had a return on equity of 9.15% and a net margin of 14.83%. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.44 earnings per share. On average, analysts forecast that OGE Energy will post 2.14 earnings per share for the current fiscal year.

OGE Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Monday, October 7th were paid a $0.4213 dividend. The ex-dividend date of this dividend was Monday, October 7th. 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 4.13%. OGE Energy’s payout ratio is currently 82.35%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Barclays raised their target price on OGE Energy from $39.00 to $42.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Jefferies Financial Group initiated coverage on shares of OGE Energy in a research report on Thursday, September 19th. They issued a “buy” rating and a $46.00 price objective on the stock. Finally, Evercore ISI upped 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. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, OGE Energy currently has an average rating of “Hold” and an average 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.