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

OGE Energy (NYSE:OGE) issued its quarterly earnings results on Tuesday. The utilities provider reported $1.09 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.03), Briefing.com reports. The firm had revenue of $965.40 million for the quarter, compared to the consensus estimate of $1.02 billion. OGE Energy had a net margin of 14.83% and a return on equity of 9.15%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the company 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 Up 1.9 %

Shares of OGE traded up $0.76 during mid-day trading on Wednesday, hitting $41.79. The company’s stock had a trading volume of 583,487 shares, compared to its average volume of 1,287,446. The company’s 50-day moving average is $40.35 and its 200-day moving average is $37.95. OGE Energy has a 52-week low of $32.06 and a 52-week high of $41.82. The firm has a market capitalization of $8.39 billion, a price-to-earnings ratio of 20.11, a PEG ratio of 3.53 and a beta of 0.74. The company has a current ratio of 0.71, a quick ratio of 0.36 and a debt-to-equity ratio of 1.08.

OGE Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Monday, October 7th were given a $0.4213 dividend. This represents a $1.69 annualized dividend and a dividend yield of 4.03%. The ex-dividend date 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 presently 82.35%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Evercore ISI upped their target price on shares of OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a research note on Thursday, August 8th. Barclays upped their target price on shares of OGE Energy from $39.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Finally, Jefferies Financial Group assumed coverage on shares of OGE Energy in a research note on Thursday, September 19th. They issued a “buy” rating and a $46.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, OGE Energy presently has a consensus 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.