OGE Energy Corp. to Post Q3 2018 Earnings of $0.97 Per Share, KeyCorp Forecasts (OGE)
OGE Energy Corp. (NYSE:OGE) – Stock analysts at KeyCorp issued their Q3 2018 EPS estimates for OGE Energy in a research note issued on Thursday, October 18th. KeyCorp analyst P. Ridzon anticipates that the utilities provider will post earnings per share of $0.97 for the quarter.
A number of other brokerages also recently issued reports on OGE. UBS Group raised their price objective on OGE Energy from $35.00 to $37.00 and gave the stock a “neutral” rating in a research report on Friday, August 10th. Zacks Investment Research raised OGE Energy from a “sell” rating to a “hold” rating in a research report on Friday, July 20th. ValuEngine raised OGE Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, June 26th. Finally, Goldman Sachs Group downgraded OGE Energy from a “buy” rating to a “neutral” rating in a research report on Sunday, June 24th. They noted that the move was a valuation call. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $36.60.
OGE Energy (NYSE:OGE) last issued its quarterly earnings data on Thursday, August 9th. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02). The business had revenue of $567.00 million for the quarter, compared to analyst estimates of $592.64 million. OGE Energy had a return on equity of 10.74% and a net margin of 28.26%. The firm’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.52 earnings per share.
Institutional investors have recently made changes to their positions in the stock. Winslow Evans & Crocker Inc. purchased a new position in OGE Energy during the 2nd quarter valued at about $100,000. Gifford Fong Associates purchased a new position in OGE Energy during the 2nd quarter valued at about $141,000. Sigma Planning Corp purchased a new position in OGE Energy during the 2nd quarter valued at about $205,000. BerganKDV Wealth Management LLC purchased a new position in OGE Energy during the 2nd quarter valued at about $213,000. Finally, Itau Unibanco Holding S.A. purchased a new position in OGE Energy during the 2nd quarter valued at about $276,000. Institutional investors own 61.49% of the company’s stock.
In related news, VP Patricia D. Horn sold 3,715 shares of the firm’s stock in a transaction dated Thursday, August 9th. The stock was sold at an average price of $37.00, for a total transaction of $137,455.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction, the vice president now owns 11,125 shares of the company’s stock, valued at $408,398.75. The disclosure for this sale can be found here. Company insiders own 0.44% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 30th. Investors of record on Wednesday, October 10th will be issued a dividend of $0.365 per share. This represents a $1.46 dividend on an annualized basis and a yield of 3.87%. This is a boost from OGE Energy’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Tuesday, October 9th. OGE Energy’s dividend payout ratio (DPR) is 76.04%.
OGE Energy Company Profile
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.
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