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

OGE Energy (NYSE:OGE) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 2.180-2.180 for the period, compared to the consensus earnings per share estimate of 2.140. The company issued revenue guidance of -. OGE Energy also updated its FY24 guidance to $2.06-2.18 EPS.

OGE Energy Price Performance

Shares of OGE traded up $0.98 during trading hours on Wednesday, reaching $42.01. 912,912 shares of the company’s stock traded hands, compared to its average volume of 1,288,597. OGE Energy has a 12 month low of $32.06 and a 12 month high of $42.03. The company has a current ratio of 0.71, a quick ratio of 0.36 and a debt-to-equity ratio of 1.08. The stock has a market cap of $8.44 billion, a PE ratio of 20.11, a price-to-earnings-growth ratio of 3.53 and a beta of 0.74. The firm’s 50 day simple moving average is $40.35 and its 200-day simple moving average is $37.95.

OGE Energy (NYSE:OGE) last released its quarterly earnings data on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.03). OGE Energy had a net margin of 14.83% and a return on equity of 9.15%. The company 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 EPS. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. Equities analysts expect that OGE Energy will post 2.14 EPS for the current year.

OGE Energy Increases Dividend

The firm 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. This represents a $1.69 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date was Monday, October 7th. This is an increase from OGE Energy’s previous quarterly dividend of $0.42. OGE Energy’s dividend payout ratio is currently 82.35%.

Analyst Upgrades and Downgrades

OGE has been the subject of several recent research reports. Barclays lifted their target price on shares of OGE Energy from $39.00 to $42.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Jefferies Financial Group assumed coverage on shares of OGE Energy in a research report on Thursday, September 19th. They set a “buy” rating and a $46.00 price target for the company. Finally, Evercore ISI upped their price objective on OGE Energy from $36.00 to $40.00 and gave the company an “in-line” rating in a research report on Thursday, August 8th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus 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.