$0.96 EPS Expected for OGE Energy Corp. (OGE) This Quarter

Wall Street brokerages expect that OGE Energy Corp. (NYSE:OGE) will post earnings per share (EPS) of $0.96 for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have issued estimates for OGE Energy’s earnings, with estimates ranging from $0.94 to $0.97. OGE Energy posted earnings of $0.92 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 4.3%. The business is expected to issue its next quarterly earnings results before the market opens on Thursday, November 8th.

According to Zacks, analysts expect that OGE Energy will report full year earnings of $2.03 per share for the current fiscal year, with EPS estimates ranging from $2.00 to $2.05. For the next year, analysts anticipate that the business will report earnings of $2.13 per share, with EPS estimates ranging from $2.10 to $2.15. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow OGE Energy.

OGE Energy (NYSE:OGE) last posted its earnings results on Thursday, August 9th. The utilities provider reported $0.55 EPS for the quarter, missing the Zacks’ consensus estimate of $0.57 by ($0.02). OGE Energy had a net margin of 28.26% and a return on equity of 10.74%. The company had revenue of $567.00 million during the quarter, compared to analysts’ expectations of $592.64 million. During the same period last year, the business earned $0.52 earnings per share. The company’s quarterly revenue was down 3.3% on a year-over-year basis.

Several research analysts have issued reports on OGE shares. Zacks Investment Research downgraded shares of OGE Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, July 10th. Barclays started coverage on shares of OGE Energy in a research report on Monday, October 22nd. They set a “sell” rating and a $36.00 price objective on the stock. Finally, UBS Group raised their target price on shares of OGE Energy from $35.00 to $37.00 and gave the stock a “neutral” rating in a research note on Friday, August 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $36.50.

In related news, VP Jerry A. Peace sold 2,513 shares of the firm’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $36.71, for a total value of $92,252.23. Following the completion of the sale, the vice president now owns 11,125 shares in the company, valued at $408,398.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Patricia D. Horn sold 3,715 shares of the firm’s stock in a transaction dated Thursday, August 9th. The shares were sold at an average price of $37.00, for a total transaction of $137,455.00. The disclosure for this sale can be found here. 0.44% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its stake in shares of OGE Energy by 17.7% in the second quarter. Dimensional Fund Advisors LP now owns 826,795 shares of the utilities provider’s stock valued at $29,111,000 after purchasing an additional 124,084 shares during the period. Covalis Capital LLP lifted its stake in shares of OGE Energy by 61.6% in the second quarter. Covalis Capital LLP now owns 299,809 shares of the utilities provider’s stock valued at $10,557,000 after purchasing an additional 114,339 shares during the period. Putnam Investments LLC lifted its stake in shares of OGE Energy by 43.0% in the second quarter. Putnam Investments LLC now owns 262,038 shares of the utilities provider’s stock valued at $9,227,000 after purchasing an additional 78,804 shares during the period. Gideon Capital Advisors Inc. acquired a new stake in shares of OGE Energy in the second quarter valued at about $988,000. Finally, ING Groep NV acquired a new stake in shares of OGE Energy in the second quarter valued at about $1,077,000. Hedge funds and other institutional investors own 61.16% of the company’s stock.

Shares of OGE Energy stock opened at $37.50 on Friday. OGE Energy has a 1 year low of $29.59 and a 1 year high of $38.13. The company has a current ratio of 0.45, a quick ratio of 0.28 and a debt-to-equity ratio of 0.64. The firm has a market cap of $7.14 billion, a price-to-earnings ratio of 19.38, a price-to-earnings-growth ratio of 3.41 and a beta of 0.54.

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 30th. Stockholders of record on Wednesday, October 10th were paid a $0.365 dividend. This represents a $1.46 annualized dividend and a dividend yield of 3.89%. The ex-dividend date was Tuesday, October 9th. This is a boost from OGE Energy’s previous quarterly dividend of $0.33. OGE Energy’s dividend payout ratio (DPR) is 76.04%.

About OGE Energy

OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that offers physical delivery and related services for electricity and natural gas primarily in the south central United States. The company operates in two segments, Electric Utility and Natural Gas Midstream Operations.

Featured Article: Determine Your Level of Risk Tolerance

Get a free copy of the Zacks research report on OGE Energy (OGE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for OGE Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OGE Energy and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply