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

OGE Energy (NYSE:OGE) updated its FY 2024 earnings guidance on Tuesday. 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 Stock Performance

Shares of OGE opened at $42.14 on Friday. The firm has a market cap of $8.46 billion, a P/E ratio of 21.83, a PEG ratio of 3.55 and a beta of 0.74. OGE Energy has a twelve month low of $32.06 and a twelve month high of $42.50. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.36 and a current ratio of 0.71. The firm’s 50 day moving average price is $40.46 and its two-hundred day moving average price is $38.01.

OGE Energy (NYSE:OGE) last posted its quarterly earnings data on Tuesday, November 5th. The utilities provider reported $1.09 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.03). The company had revenue of $965.40 million during 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 company’s revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.20 earnings per share. On average, analysts forecast that OGE Energy will post 2.14 EPS for the current fiscal year.

OGE Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Monday, October 7th were given a $0.4213 dividend. This represents a $1.69 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date was Monday, October 7th. This is a positive change from OGE Energy’s previous quarterly dividend of $0.42. OGE Energy’s dividend payout ratio (DPR) is currently 87.05%.

Analyst Upgrades and Downgrades

OGE has been the subject of several research reports. Barclays raised their price target 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. Jefferies Financial Group assumed coverage on shares of OGE Energy in a research report on Thursday, September 19th. They issued a “buy” rating and a $46.00 target price for the company. Finally, Evercore ISI lifted their price target on shares of OGE Energy from $36.00 to $40.00 and gave the company an “in-line” rating in a research note on Thursday, August 8th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price 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.