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

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

OGE Energy Trading Up 0.5 %

OGE stock traded up $0.16 on Friday, hitting $35.18. 1,549,718 shares of the company were exchanged, compared to its average volume of 1,617,650. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.51 and a quick ratio of 0.30. The stock has a market capitalization of $7.06 billion, a price-to-earnings ratio of 17.86, a price-to-earnings-growth ratio of 3.28 and a beta of 0.72. OGE Energy has a twelve month low of $31.25 and a twelve month high of $38.04. The business’s fifty day moving average is $33.81 and its two-hundred day moving average is $34.11.

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

OGE Energy Cuts Dividend

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

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at OGE Energy

In other OGE Energy news, VP Cristina F. Mcquistion sold 4,187 shares of OGE Energy stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $33.92, for a total value of $142,023.04. Following the transaction, the vice president now owns 25,926 shares in the company, valued at $879,409.92. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.53% of the stock is owned by corporate insiders.

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.