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

OGE Energy (NYSE:OGE) issued its earnings results 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 during the quarter, compared to analyst estimates of $1.02 billion. OGE Energy had a net margin of 14.83% and a return on equity of 9.15%. OGE Energy’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.20 EPS. 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 1.4 %

Shares of OGE Energy stock traded up $0.56 on Wednesday, hitting $41.59. 501,160 shares of the company’s stock traded hands, compared to its average volume of 1,287,064. The company has a quick ratio of 0.36, a current ratio of 0.71 and a debt-to-equity ratio of 1.08. The firm’s 50-day moving average is $40.35 and its 200 day moving average is $37.95. The stock has a market cap of $8.35 billion, a P/E ratio of 20.11, a PEG ratio of 3.53 and a beta of 0.74. OGE Energy has a 52-week low of $32.06 and a 52-week high of $41.75.

OGE Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Monday, October 7th were issued a $0.4213 dividend. The ex-dividend date was Monday, October 7th. This represents a $1.69 dividend on an annualized basis and a yield of 4.05%. This is a positive change from OGE Energy’s previous quarterly dividend of $0.42. OGE Energy’s payout ratio is currently 82.35%.

Wall Street Analyst Weigh In

OGE has been the topic of several research analyst reports. Barclays lifted their price objective on OGE Energy from $39.00 to $42.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Evercore ISI boosted their price objective 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. 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 company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average 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.