OGE Energy (NYSE:OGE) Issues FY24 Earnings Guidance

OGE Energy (NYSE:OGE) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $2.06 to $2.18 for the period, compared to the consensus earnings per share estimate of $2.13. OGE Energy also updated its FY 2024 guidance to 2.060-2.180 EPS.

Analysts Set New Price Targets

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

OGE Energy Price Performance

OGE stock traded up $0.16 during midday trading on Friday, reaching $35.18. The stock had a trading volume of 1,549,718 shares, compared to its average volume of 1,617,650. OGE Energy has a 52-week low of $31.25 and a 52-week high of $38.04. The company has a market cap of $7.06 billion, a price-to-earnings ratio of 17.86, a price-to-earnings-growth ratio of 3.28 and a beta of 0.72. The company’s fifty day simple moving average is $33.81 and its 200 day simple moving average is $34.11. The company has a current ratio of 0.51, a quick ratio of 0.30 and a debt-to-equity ratio of 0.96.

OGE Energy (NYSE:OGE) last announced its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.26). OGE Energy had a net margin of 14.63% and a return on equity of 8.89%. The business had revenue of $596.80 million for the quarter, compared to analysts’ expectations of $607.37 million. During the same period in the prior year, the company posted $0.19 EPS. The firm’s revenue was up 7.0% on a year-over-year basis. As a group, sell-side analysts predict that OGE Energy will post 2.13 earnings per share for the current fiscal year.

OGE Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Monday, April 8th were given a dividend of $0.418 per share. The ex-dividend date was Friday, April 5th. This represents a $1.67 dividend on an annualized basis and a yield of 4.75%. OGE Energy’s payout ratio is 84.77%.

Insider Buying and Selling at OGE Energy

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

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.