OGE Energy (NYSE:OGE) Announces Earnings Results

OGE Energy (NYSE:OGE) released its quarterly earnings results on Tuesday. The utilities provider reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.03), Briefing.com reports. OGE Energy had a return on equity of 9.15% and a net margin of 14.83%. The company had revenue of $965.40 million during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the prior year, the firm earned $1.20 EPS. OGE Energy’s quarterly revenue was up 2.1% on a year-over-year basis. 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 opened at $42.19 on Thursday. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.71 and a quick ratio of 0.36. OGE Energy has a one year low of $32.06 and a one year high of $42.26. The business’s 50 day simple moving average is $40.41 and its two-hundred day simple moving average is $37.98. The stock has a market capitalization of $8.47 billion, a P/E ratio of 21.86, a price-to-earnings-growth ratio of 3.55 and a beta of 0.74.

OGE Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Monday, October 7th were issued a dividend of $0.4213 per share. The ex-dividend date of this dividend was Monday, October 7th. This is a boost from OGE Energy’s previous quarterly dividend of $0.42. This represents a $1.69 annualized dividend and a yield of 3.99%. OGE Energy’s dividend payout ratio is currently 87.05%.

Analyst Upgrades and Downgrades

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