OGE Energy (NYSE:OGE) Updates FY 2024 Earnings Guidance

OGE Energy (NYSE:OGE) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 2.060-2.180 for the period, compared to the consensus EPS estimate of 2.130. The company issued revenue guidance of -. OGE Energy also updated its FY24 guidance to $2.06 to $2.18 EPS.

Analyst Upgrades and Downgrades

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

OGE Energy Stock Up 0.5 %

Shares of OGE traded up $0.16 during mid-day trading on Friday, hitting $35.18. 1,549,718 shares of the company traded hands, compared to its average volume of 1,617,650. The company has a market capitalization of $7.06 billion, a PE ratio of 17.86, a price-to-earnings-growth ratio of 3.28 and a beta of 0.72. The company has a quick ratio of 0.30, a current ratio of 0.51 and a debt-to-equity ratio of 0.96. The business has a 50 day moving average of $33.81 and a 200 day moving average of $34.11. OGE Energy has a 1-year low of $31.25 and a 1-year high of $38.04.

OGE Energy (NYSE:OGE) last announced its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $0.09 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 company had revenue of $596.80 million during the quarter, compared to analysts’ expectations of $607.37 million. During the same period in the previous year, the business earned $0.19 earnings per share. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. Equities research analysts anticipate that OGE Energy will post 2.13 EPS for the current year.

OGE Energy Cuts Dividend

The firm 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. The ex-dividend date was Friday, April 5th. This represents a $1.67 annualized dividend and a yield of 4.75%. OGE Energy’s dividend payout ratio (DPR) is presently 84.77%.

Insider Transactions at OGE Energy

In other news, VP Cristina F. Mcquistion sold 4,187 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $33.92, for a total transaction of $142,023.04. Following the sale, 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 Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.53% of the company’s stock.

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.