OGE Energy (NYSE:OGE) Posts Quarterly Earnings Results, Misses Estimates By $0.03 EPS

OGE Energy (NYSE:OGE) announced its quarterly earnings results on Tuesday. The utilities provider reported $1.09 earnings per share 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 business had revenue of $965.40 million for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period last year, the company posted $1.20 earnings per share. The firm’s revenue for the quarter 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 Stock Down 0.3 %

OGE stock opened at $42.08 on Thursday. The company has a quick ratio of 0.36, a current ratio of 0.71 and a debt-to-equity ratio of 1.08. The firm’s 50-day simple moving average is $40.41 and its 200 day simple moving average is $37.98. The stock has a market cap of $8.45 billion, a PE ratio of 21.86, a price-to-earnings-growth ratio of 3.55 and a beta of 0.74. OGE Energy has a fifty-two week low of $32.06 and a fifty-two week high of $42.26.

OGE Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Monday, October 7th were issued a dividend of $0.4213 per share. This is an increase from OGE Energy’s previous quarterly dividend of $0.42. The ex-dividend date was Monday, October 7th. This represents a $1.69 annualized dividend and a dividend yield of 4.00%. OGE Energy’s payout ratio is 87.05%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on OGE. Evercore ISI upped 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. Jefferies Financial Group assumed coverage on OGE Energy in a research report on Thursday, September 19th. They set a “buy” rating and a $46.00 price target on the stock. Finally, Barclays increased their price objective on shares of OGE Energy from $39.00 to $42.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $39.40.

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.