OGE Energy (NYSE:OGE) Issues FY 2024 Earnings Guidance

OGE Energy (NYSE:OGE) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 2.060-2.180 for the period, compared to the consensus EPS estimate of 2.130. The company issued revenue guidance of -. OGE Energy also updated its FY24 guidance to $2.06 to $2.18 EPS.

Analyst Upgrades and Downgrades

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

OGE Energy Trading Up 0.5 %

Shares of OGE traded up $0.16 during midday trading on Friday, reaching $35.18. The company had a trading volume of 1,549,718 shares, compared to its average volume of 1,617,650. The firm has a 50 day simple moving average of $33.81 and a 200-day simple moving average of $34.11. OGE Energy has a 1-year low of $31.25 and a 1-year high of $38.04. The company has a quick ratio of 0.30, a current ratio of 0.51 and a debt-to-equity ratio of 0.96. The stock has a market cap of $7.06 billion, a PE ratio of 17.86, a price-to-earnings-growth ratio of 3.28 and a beta of 0.72.

OGE Energy (NYSE:OGE) last announced its earnings results on Wednesday, May 1st. The utilities provider reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.26). OGE Energy had a net margin of 14.63% and a return on equity of 8.89%. The firm had revenue of $596.80 million during the quarter, compared to analysts’ expectations of $607.37 million. During the same period in the previous year, the firm earned $0.19 EPS. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. Research analysts forecast that OGE Energy will post 2.13 EPS for the current fiscal year.

OGE Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Monday, April 8th were paid a dividend of $0.418 per share. The ex-dividend date of this dividend was Friday, April 5th. This represents a $1.67 annualized dividend and a dividend yield of 4.75%. OGE Energy’s dividend payout ratio (DPR) is 84.77%.

Insider Buying and Selling at OGE Energy

In other OGE Energy news, VP Cristina F. Mcquistion sold 4,187 shares of the company’s 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 completion of the transaction, the vice president now owns 25,926 shares in the company, valued at approximately $879,409.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.53% of the company’s stock.

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.