OGE Energy (NYSE:OGE) Updates 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.

Analyst Ratings Changes

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

OGE Energy Stock Performance

OGE Energy stock traded up $0.16 during mid-day trading on Friday, reaching $35.18. The company’s stock had a trading volume of 1,549,718 shares, compared to its average volume of 1,617,650. 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 has a twelve month low of $31.25 and a twelve month high of $38.04. The business has a 50 day moving average price of $33.81 and a 200-day moving average price of $34.11. The firm has a market cap of $7.06 billion, a price-to-earnings ratio of 17.86, a PEG ratio of 3.28 and a beta of 0.72.

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

OGE Energy Cuts Dividend

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

Insider Buying and Selling

In other OGE Energy news, VP Cristina F. Mcquistion sold 4,187 shares of the firm’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 sale, the vice president now directly owns 25,926 shares in the company, valued at $879,409.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.53% of the stock is owned by company insiders.

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.