OGE Energy (NYSE:OGE) Issues Quarterly Earnings Results

OGE Energy (NYSE:OGE) issued its earnings results on Wednesday. The utilities provider reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.26), Briefing.com reports. OGE Energy had a net margin of 15.59% and a return on equity of 9.37%. The firm had revenue of $596.80 million during the quarter, compared to the consensus estimate of $607.37 million. During the same period in the previous year, the company posted $0.19 earnings per share. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. OGE Energy updated its FY24 guidance to $2.06 to $2.18 EPS and its FY 2024 guidance to 2.060-2.180 EPS.

OGE Energy Trading Down 0.1 %

Shares of NYSE:OGE traded down $0.03 during mid-day trading on Thursday, reaching $35.02. 1,805,641 shares of the company were exchanged, compared to its average volume of 1,609,470. The firm has a market cap of $7.02 billion, a price-to-earnings ratio of 16.87, a P/E/G ratio of 3.25 and a beta of 0.72. OGE Energy has a 1 year low of $31.25 and a 1 year high of $38.04. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.65 and a quick ratio of 0.30. The firm’s 50-day simple moving average is $33.74 and its 200 day simple moving average is $34.10.

OGE Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Monday, April 8th were paid a $0.418 dividend. The ex-dividend date was Friday, April 5th. This represents a $1.67 annualized dividend and a dividend yield of 4.77%. OGE Energy’s dividend payout ratio (DPR) is 80.68%.

Insider Activity

In related news, VP Cristina F. Mcquistion sold 4,187 shares of OGE Energy stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $33.92, for a total transaction of $142,023.04. Following the sale, the vice president now directly owns 25,926 shares in the company, valued at approximately $879,409.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

OGE has been the topic of a number of analyst reports. TheStreet lowered OGE Energy from a “b” rating to a “c+” rating in a research report on Wednesday, February 21st. Barclays downgraded OGE Energy from an “overweight” rating to an “equal weight” rating and set a $34.00 price objective on the stock. in a report on Monday, April 22nd. LADENBURG THALM/SH SH cut OGE Energy from a “buy” rating to a “neutral” rating and cut their price objective for the company from $36.00 to $34.00 in a research report on Tuesday, January 16th. Finally, StockNews.com upgraded shares of OGE Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, April 23rd. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $33.40.

About OGE Energy

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.