OGE Energy (NYSE:OGE) Announces Earnings Results, Misses Expectations By $0.26 EPS

OGE Energy (NYSE:OGE) posted its quarterly earnings data on Wednesday. The utilities provider reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.26), Briefing.com reports. The firm had revenue of $596.80 million for the quarter, compared to analysts’ expectations of $607.37 million. OGE Energy had a net margin of 15.59% and a return on equity of 9.37%. The firm’s revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.19 EPS. OGE Energy updated its FY24 guidance to $2.06 to $2.18 EPS and its FY 2024 guidance to 2.060-2.180 EPS.

OGE Energy Stock Down 0.1 %

NYSE OGE traded down $0.03 on Thursday, reaching $35.02. 1,805,641 shares of the stock traded hands, compared to its average volume of 1,609,470. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.30 and a current ratio of 0.65. The company has a fifty day moving average price of $33.74 and a 200-day moving average price of $34.10. The company has a market cap of $7.02 billion, a price-to-earnings ratio of 16.87, a PEG ratio of 3.25 and a beta of 0.72. OGE Energy has a 12 month low of $31.25 and a 12 month high of $38.04.

OGE Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Monday, April 8th were given a dividend of $0.418 per share. This represents a $1.67 dividend on an annualized basis and a yield of 4.77%. The ex-dividend date was Friday, April 5th. OGE Energy’s dividend payout ratio (DPR) is presently 80.68%.

Insider Transactions at OGE Energy

In other news, VP Cristina F. Mcquistion sold 4,187 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $33.92, for a total value of $142,023.04. Following the completion of the transaction, the vice president now directly owns 25,926 shares of the company’s stock, valued at approximately $879,409.92. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on OGE. Barclays lowered OGE Energy from an “overweight” rating to an “equal weight” rating and set a $34.00 price target for the company. in a research note on Monday, April 22nd. StockNews.com raised OGE Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, April 23rd. TheStreet lowered OGE Energy from a “b” rating to a “c+” rating in a research note on Wednesday, February 21st. Finally, LADENBURG THALM/SH SH cut OGE Energy from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $36.00 to $34.00 in a report on Tuesday, January 16th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat, OGE Energy currently has a consensus rating of “Hold” and a consensus price target of $33.40.

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.