OGE Energy (NYSE:OGE) Issues Quarterly Earnings Results, Misses Expectations By $0.03 EPS

OGE Energy (NYSE:OGE) announced its quarterly earnings data 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. The firm had revenue of $965.40 million for the quarter, compared to analysts’ expectations of $1.02 billion. OGE Energy had a net margin of 14.83% and a return on equity of 9.15%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.20 earnings per share. 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 Performance

Shares of NYSE:OGE traded down $0.05 during trading on Thursday, hitting $42.14. 1,671,182 shares of the company traded hands, compared to its average volume of 1,295,717. The stock has a market capitalization of $8.46 billion, a price-to-earnings ratio of 21.86, a PEG ratio of 3.55 and a beta of 0.74. The company has a quick ratio of 0.36, a current ratio of 0.71 and a debt-to-equity ratio of 1.08. OGE Energy has a one year low of $32.06 and a one year high of $42.50. The business’s fifty day moving average is $40.41 and its 200-day moving average is $37.98.

OGE Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders 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 yield of 4.00%. The ex-dividend date of this dividend was Monday, October 7th. This is a boost from OGE Energy’s previous quarterly dividend of $0.42. OGE Energy’s dividend payout ratio is 87.05%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on OGE shares. Jefferies Financial Group initiated coverage on OGE Energy in a research report on Thursday, September 19th. They issued a “buy” rating and a $46.00 price objective for the company. 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. Finally, Evercore ISI increased their price objective on shares of OGE Energy from $36.00 to $40.00 and gave the company an “in-line” rating in a report on Thursday, August 8th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $39.40.

OGE Energy Company Profile

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.